Sky Harbour Advances National Expansion With New Hangar Campus Developments at Dallas Love Field and Dallas Executive Airport, Alongside Strategic Financing Updates
Sky Harbour Group Corporation (NYSE: SKYH, SKYH WS) (“SHG” or the “Company”), a rapidly growing airport infrastructure developer pioneering the first nationwide network of specialized Home Base Operator (HBO) campuses for business aviation, announced a major milestone in its expansion strategy with new developments approved in Dallas, Texas. The Dallas City Council has formally voted to authorize ground lease agreements enabling Sky Harbour to build state-of-the-art hangar campuses at two key regional airports: Dallas Love Field (DAL) and Dallas Executive Airport (RBD).
This approval reflects not only Dallas’s importance as a business aviation hub, but also Sky Harbour’s accelerating growth as it scales its HBO campus model across the United States.
Strengthening Dallas’s Position as a Business Aviation Powerhouse
With the addition of new campuses at DAL and RBD, Sky Harbour continues to strategically expand in markets where demand for premium aviation infrastructure significantly exceeds supply. Dallas, home to one of the largest concentrations of corporate headquarters in the nation, has seen sustained growth in private and business aviation operations. Sky Harbour’s targeted expansion aligns with this need.
The Company’s HBO model is designed to provide business aircraft with a true “home base”—a private, secure, and highly efficient aviation environment that prioritizes operational control, tenant experience, and aircraft safety. Each campus includes premium hangar space paired with office and lounge suites, as well as Sky Harbour’s proprietary line-service program exclusively dedicated to based aircraft tenants.
By increasing its presence in Dallas, Sky Harbour is positioning itself to serve the region’s diverse mix of business jet operators, from large corporate flight departments to private owners requiring top-tier facilities and support.
Economic and Operational Impact Across the Metroplex
Sky Harbour’s move into DAL and RBD is expected to have a meaningful positive impact on the broader North Texas economy. The developments will support or create hundreds of local jobs across construction, operations, maintenance, line service, and administrative functions.
Additionally, the Company’s investment in aviation infrastructure is expected to generate long-term value for the City of Dallas, Dallas County, and surrounding communities. Airport lease revenues, increased aviation activity, and enhanced corporate travel capabilities contribute to the region’s economic competitiveness.
When fully built, the two campuses will significantly expand the city’s capacity to host and service business aircraft, improving overall efficiency and supporting Dallas’s robust aviation ecosystem.
A Growing National Network: 23 Airports and Counting
The addition of Dallas Love Field and Dallas Executive Airport will expand Sky Harbour’s national network to 23 airports, with nine locations already operational and fourteen under development. This milestone marks another step toward the Company’s vision of building the country’s first interconnected network of premium home-base aviation campuses.
Sky Harbour’s footprint strategy is built around clustering campuses in major business aviation markets—an approach that provides meaningful benefits. These include operational efficiencies, shared servicing capabilities, streamlined capital deployment, and a consistent premium customer experience across regions.
Leadership Perspectives on the Expansion
Tal Keinan, CEO of Sky Harbour, emphasized the strategic importance of Dallas within the Company’s national expansion plan.
Dallas is already one of the most robust business aviation markets in the United States, and is also among the fastest growing. Sky Harbour’s three Dallas locations—Love Field, Dallas Executive, and our already-operating campus at Dallas Addison—serve distinct segments of the Dallas market. We see advantages in clustering Sky Harbour campuses in the nation’s deepest business aviation markets, manifesting in more tailored solutions to the respective business aviation communities and in significant opex and capex benefits. We are grateful for the partnership of the City of Dallas throughout this multi-year process.
The Dallas Department of Aviation echoed this sentiment.
Patrick Carreno, Director of Aviation, stated:
The addition of Sky Harbour at Dallas Executive and Dallas Love Field is one we believe will create vital infrastructure that has a positive, long-term economic impact on the city, especially in Southern Dallas. We look forward to welcoming Sky Harbour to our airports and having them as a valued partner in the aviation ecosystem.
Campus Features: Premium Hangars and Customized Support Services
Both the DAL and RBD campuses will feature six SH37 hangars, each approximately 37,000 square feet. These will be designed to accommodate the latest generation of business aircraft, including large-cabin models that require significant clearances, advanced fire protection systems, and integrated support spaces.
Adjacent suites—including pilot lounges, private offices, briefing rooms, and hospitality areas—will be tailored to individual operator needs. Together with Sky Harbour’s exclusive line-service offering, the campuses will provide tenants with unmatched levels of privacy, operational efficiency, aircraft protection, and overall control of their aviation operations.
Strategic Financing Developments to Support Expansion
Alongside the campus announcements, Sky Harbour issued an update on recent financing initiatives that support its broader operational and development roadmap.
Yorkville Advisors Loan Provides New Corporate Flexibility
On December 9, the Company entered into a $15 million corporate holding company loan with an affiliate of Yorkville Advisors Global, LP, referred to as the Yorkville Loan.
Key terms include:
- 18-month term
- 7.75% taxable interest rate
- Upfront fee: 50,000 SKYH shares
- Principal paydown beginning July 9, 2026
The Company expects to use the proceeds for general corporate purposes. Additionally, Yorkville Securities, LLC—also an affiliate of Yorkville Advisors—will join Sky Harbour’s existing At-The-Market (ATM) program as an agent.
This financing strengthens Sky Harbour’s corporate liquidity and provides flexibility as it pursues simultaneous infrastructure developments across multiple states.
Stratus Refinances Debt to Improve Long-Term Cost Structure
On December 4, 2025, Stratus Building Systems, Inc., Sky Harbour’s wholly owned manufacturing subsidiary, closed a $9.5 million commercial term loan with Vista Bank (“Vista Loan”). The financing was executed to refinance Stratus’s existing debt under more favorable long-term conditions.
Key loan features include:
- 10-year term
- 25-year amortization schedule
- Interest rate structure:
- Year 1: Prime Rate + 0.25%
- Years 2–10: 30-day SOFR + 2.25% (taxable), resetting every five years
Approximately $6.3 million of the loan was applied to refinancing prior term debt, equipment loans, and transaction fees.
The remaining $3.2 million may become available after year one—provided Stratus maintains at least a 1.4x EBITDA-to-interest coverage ratio—to support working capital needs or to repay prior advances from the parent company.
This refinancing underscores Sky Harbour’s continued efforts to manage debt efficiently while supporting the growth of its vertically integrated manufacturing operations.
Sky Harbour’s newly authorized developments at Dallas Love Field and Dallas Executive Airport mark a significant step forward for the Company’s national expansion and reinforce Dallas’s leadership role in U.S. business aviation. By combining premium aviation infrastructure with strategic financing initiatives, Sky Harbour is well positioned to continue building out a robust, high-performance network of HBO campuses tailored to the evolving needs of corporate and private aircraft operators.
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