Sky Harbour Group Reports 102% Revenue Growth to $12.18 Million in First Half of 2025

Sky Harbour Group Corporation reported significant financial performance improvements in its latest quarterly filing for the period ending June 30, 2025. The company generated total revenue of $12.18 million for the first half of 2025, a substantial increase of 102% compared to $6.02 million in the same period of 2024. This growth was primarily driven by a 82% rise in rental revenue, which reached $9.69 million, and a 251% increase in fuel revenue, totaling $2.50 million. The company attributed these increases to enhanced occupancy rates at its hangar campuses, particularly following the acquisition of the Camarillo Airport (CMA) facility in late 2024.

Despite the revenue growth, Sky Harbour reported an operating loss of $14.35 million for the first half of 2025, compared to a loss of $10.18 million in the prior year. Total expenses rose to $26.53 million, up from $16.20 million, largely due to increased campus operating expenses, ground lease expenses, and employee compensation costs. The company’s net loss for the period was $5.23 million, a significant improvement from a net loss of $17.04 million in the first half of 2024, indicating a positive trend in overall financial health.

Operationally, Sky Harbour has been expanding its footprint in the aviation infrastructure sector. The company has made strategic moves, including entering into new ground leases at Hillsboro Airport (HIO) and Stewart International Airport (SWF), which cover approximately 13 and 16 acres, respectively. These leases are expected to enhance the company’s capacity to meet the growing demand for hangar space, particularly for larger private jets. As of June 30, 2025, the company reported occupancy rates averaging 68.9% across its operational hangar campuses.

The company’s balance sheet reflects a total asset value of $568.14 million, a slight increase from $556.56 million at the end of 2024. Cash and restricted cash decreased to $32.11 million from $94.36 million, primarily due to ongoing construction costs and operational expenditures. Sky Harbour's total liabilities increased to $401.09 million, up from $396.74 million, driven by higher operating lease liabilities and ground lease obligations. The company continues to focus on its long-term growth strategy, which includes expanding its network of hangar campuses and optimizing operational efficiencies.

Looking ahead, Sky Harbour remains optimistic about its growth trajectory, citing strong demand for hangar space and ongoing investments in infrastructure. The company plans to leverage its recent acquisitions and new leases to enhance its market position. However, it acknowledges potential challenges, including rising construction costs and interest rates, which could impact future profitability. The management is committed to navigating these challenges while pursuing its goal of establishing a nationwide network of home basing hangar campuses for business aircraft.