The Sky Harbour Group Corporation (NYSE American: SKYH, SKYH WS) on May 28 announced that the Port Authority of New York and New Jersey (PANYNJ) voted to authorize the execution of a lease agreement for the development of a Sky Harbour campus at Stewart International Airport (SWF), serving the New York Metropolitan Area. Sky Harbour expects the lease to be fully executed in the coming months.
The Sky Harbour campus will offer “the best home base in business aviation” to house the New York area’s top corporate and privately-owned business jets in state-of-the art hangars, with line-services dedicated exclusively to based tenants, offering “the shortest time to wheels-up in business aviation.” The campus is expected to create or sustain hundreds of local jobs and generate significant economic benefits for New York State, Orange County, and the Stewart International Airport.
The Stewart International Airport campus joins Sky Harbour campuses now operating at Houston’s Sugar Land Regional Airport (SGR), Nashville International Airport (BNA), Miami Opa-Locka Executive Airport (OPF), and San Jose Mineta Airport (SJC); campuses in development at Denver Centennial Airport (APA), Phoenix Deer Valley Airport (DVT), Dallas’s Addison Airport (ADS), Chicago Executive Airport (PWK), Bradley International Airport (BDL), Hudson Valley Regional Airport (POU), and Orlando Executive Airport (ORL); and additional campuses soon to be announced.
Tal Keinan, Sky Harbour’s Chairman and Chief Executive Officer, commented, “Sky Harbour’s Stewart International Airport campus will be the third Sky Harbour facility to serve the New York metropolitan area, the nation’s top market for business aviation. Sky Harbour is honored to be joining the PANYNJ community and committed to delivering the long-term benefits of a Sky Harbour campus to the Cities of Newburgh and New Windsor, to Orange County, and to New York State. This project has been driven by Sky Harbour’s invaluable partnership with MJJ Builders, with the guidance of Passero Associates. The SWF project marks Sky Harbour’s first active partnership with Jonah Mandelbaum and the Red Tail Flight Academy. https://www.redtailflightacademy.org”
