Sky Harbour Group Corporation has increased its footprint at New York Stewart International Airport from 16 acres to 26 acres, a 10‑acre expansion that will add roughly 150,000 sq ft of rentable hangar space. The lease amendment, approved by the Port Authority of New York and New Jersey, allows the company to reconfigure the site for a more efficient layout and higher revenue density.
The move positions Sky Harbour to capture the largest business‑aviation market in the United States. CEO Tal Keinan noted that New York is the top home‑basing market and that the expanded campus will serve the region’s largest corporate and private jets. The additional space is expected to boost operating margins by leveraging economies of scale and higher utilization rates, giving Sky Harbour a competitive edge over traditional fixed‑base operators.
Sky Harbour’s Q3 2025 results provide context for the expansion’s impact. Consolidated revenue rose 78.2% year‑over‑year to $X million, while net cash used in operating activities improved to $0.9 million from $1.2 million in Q3 2024. The company’s guidance to reach consolidated cash‑flow breakeven by the end of 2025 reflects confidence that the new hangar capacity will generate incremental revenue and margin expansion, offsetting the upfront development costs.
The expansion also taps a broader industry trend of rising demand for dedicated hangar space, driven by a surge in corporate jet activity post‑COVID‑19. Local economic benefits are expected, with the project projected to create or sustain hundreds of jobs in the Hudson Valley. Partnerships with the Port Authority, MJJ Builders, Passero Associates, and the Red Tail Flight Academy underscore the collaborative effort behind the development.
Management emphasized that the expansion aligns with Sky Harbour’s nationwide Home Base Operator strategy and signals a strong commitment to capturing high‑margin opportunities in top markets. The company’s goal of reaching consolidated cash‑flow breakeven by year‑end 2025 is seen as achievable, given the projected revenue lift and margin improvement from the new campus.
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