The following is a summary of the Sky Harbour Group Corporation (SKYH) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Sky Harbour's revenues for Q4 2023 remained stable in comparison to the previous quarter.

• There is a dedicated focus towards achieving a breakeven point in consolidated cash flow from operations, projected to occur at the beginning of 2025.

• Additional cash equity of $27 million was injected from the holding company to Sky Harbour Capital to support construction ventures.

• The company is anticipating achieving EBITDA positivity soon with projected positivity at Sky Harbour Capital throughout 2024.

• Around 250,000 warrants were exercised recently, bringing in close to $3 million of proceeds.

Business Progress:

• Progress is noted in securing new ground leases at the San Jose Mineta International Airport and Orlando Executive Airport, expecting to sign six new leases in 2025.

• Launching operations at the first Tier 1 airport, the San Jose Mineta International Airport, with pre-leased operations starting shortly.

• There has been a ramp-up in development activities for cost and execution efficiency which includes standardizing hangar designs, increasing internal manufacturing capacity, and seamless process integration.

• Remediation plan details have been shared to resolve prototype hangar's structural design issues affecting cost and schedule of construction projects.

• Sky Harbour is aggressively focusing on scaling at Tier 1 airports and planning to expand operations and headcount with the opening of more campuses.

• Financing options are under consideration as part of the expansion plan, targeting a capital structure that maximizes the use of permanent bond transactions at the lowest possible rate.

• There is a plan to achieve investment grade by mid-2025 through debt, bank debt, and equity financing with a plan for a possible bond issue by 2025.

• Sky Harbour is considering increasing occupancy beyond 100% through their new flagship hangar, the Sky Harbour 34.

More details: Sky Harbour Group IR

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