Sky Harbour Group Reports 78% Revenue Growth to $7.3 Million in Q3 2025

Sky Harbour Group Corporation reported significant financial developments in its latest 10-Q filing for the quarter ending September 30, 2025. The company generated total revenue of $7.3 million for the quarter, a 78% increase from $4.1 million in the same period last year. This growth was primarily driven by a 61% rise in rental revenue, which reached $5.7 million, and a substantial 193% increase in fuel revenue, totaling $1.6 million. For the nine months ending September 30, 2025, total revenue was $19.5 million, compared to $10.1 million for the same period in 2024, reflecting a 92% increase.

Despite the revenue growth, the company reported an operating loss of $7.7 million for the third quarter, compared to a loss of $4.9 million in the prior year. Total expenses rose to $15.0 million, up from $9.0 million, largely due to increased campus operating expenses, fuel costs, and employee compensation. The net loss attributable to Sky Harbour shareholders was $1.9 million for the quarter, a significant improvement from a loss of $18.6 million in the same quarter of 2024. For the nine-month period, the company recorded a net income of $577,000, a turnaround from a loss of $37.7 million in the previous year.

Operationally, Sky Harbour has expanded its footprint, with the acquisition of the Camarillo Airport hangar campus contributing to increased occupancy rates at existing facilities. The company has also commenced operations at new hangar campuses in DVT, ADS, and APA, which are expected to further enhance revenue streams. As of September 30, 2025, the company reported a total of 61 hangars across its campuses, with an overall occupancy rate of 71.3%.

In terms of strategic developments, Sky Harbour entered into a Credit Agreement in September 2025, securing a term loan facility of up to $200 million to fund ongoing and future construction projects. The company also signed a new ground lease at Long Beach Airport, covering approximately 17 acres, which is expected to bolster its operational capacity. The company’s cash and restricted cash totaled $36.5 million at the end of the reporting period, down from $94.4 million at the beginning of the year, reflecting ongoing investments in construction and operational expansion.

Looking ahead, Sky Harbour remains focused on capitalizing on the growing demand for hangar space in the U.S. business aviation market. The company anticipates continued revenue growth driven by increased occupancy and new developments, while also managing operational costs to improve profitability. The management expressed confidence in its ability to navigate market conditions and execute its growth strategy effectively.