Chicago Executive Airport Announces Sky Harbour Hangar Campus Development
October 12 2023 - 8:23AM
Business Wire
Chicago Executive Airport (PWK) and Sky Harbour Group [Sky
Harbour Group Corporation (NYSE: SKYH, SKYH WS)] today announced
the execution of an agreement for the development of a Sky Harbour
Home Base campus at PWK, the leading General Aviation airport in
the Chicago area.
The Sky Harbour campus, to be developed on approximately 25
acres, is expected to create or sustain hundreds of local jobs and
generate approximately $550MM in economic benefits. The campus will
offer “the best home base in business aviation” to house
approximately twenty of the Chicago area’s top corporate and
privately-owned business jets in private hangars, with
line-services dedicated exclusively to based tenants, offering “the
shortest time to wheels-up in business aviation.”
Court Harris, Chairman of the Chicago Executive Airport Board,
noted, “Sky Harbour brings unique and differentiated benefits to
PWK, to the communities of Prospect Heights and Wheeling, and to
the Chicago area in general. We appreciate the spirit of
partnership and professionalism that the Sky Harbour team has
brought to this relationship. We value the company’s track record
of delivering on its commitments, and look forward to working
together to enhance PWK’s value, both to the local community and to
the business aviation community.”
The Chicago Executive Airport campus joins Sky Harbour campuses
now operating at Houston’s Sugar Land Regional Airport (SGR),
Nashville International Airport (BNA), and Miami Opa-Locka
Executive Airport (OPF); campuses in development at Denver
Centennial Airport (APA), Phoenix Deer Valley Airport (DVT) and
Dallas’s Addison Airport (ADS); and additional campuses soon to be
announced.
Tal Keinan, Sky Harbour’s Chairman and Chief Executive Officer,
commented, “Chicago Executive Airport is among the best-managed
business aviation airports in the United States, serving one of the
country’s top business aviation markets. Sky Harbour is honored to
be joining the PWK community and committed to maximizing the
long-term benefits of a Sky Harbour campus to Prospect Heights,
Wheeling, Cook County, and the Greater Chicago area.
About Chicago Executive Airport
Chicago Executive is a top reliever airport for Chicago O’Hare
International (ORD), accepting some 100,000 corporate, charter and
light recreational aircraft annually. Located just 10 miles north
of ORD, Chicago Executive Airport is jointly owned by the Village
of Wheeling and City of Prospect Heights. Visit us at chiexec.com
for additional information.
About Sky Harbour Group Corporation
Sky Harbour Group Corporation is an aviation infrastructure
company developing the first nationwide network of Home-Basing
campuses for business aircraft. The company develops, leases and
manages general aviation hangars across the United States. Sky
Harbour’s Home-Basing offering aims to provide private and
corporate customers with the best physical infrastructure in
business aviation, coupled with dedicated service tailored to based
aircraft, offering the shortest time to wheels-up in business
aviation. To learn more, visit www.skyharbour.group.
Forward Looking Statements
Certain statements made in this release are "forward looking
statements" within the meaning of the "safe harbor" provisions of
the United States Private Securities Litigation Reform Act of 1995,
including statements about the financial condition, results of
operations, earnings outlook and prospects of Sky Harbour Group
(“SHG”) may include statements for the period following the
consummation of the business combination. When used in this press
release, the words “plan,” “believe,” “expect,” “anticipate,”
“intend,” “outlook,” “estimate,” “forecast,” “project,” “continue,”
“could,” “may,” “might,” “possible,” “potential,” “predict,”
“should,” “would” and other similar words and expressions (or the
negative versions of such words or expressions) are intended to
identify forward-looking statements, but the absence of these words
does not mean that a statement is not forward-looking. The
forward-looking statements are based on the current expectations of
the management of SHG as applicable and are inherently subject to
uncertainties and changes in circumstances and their potential
effects and speak only as of the date of such statement. There can
be no assurance that future developments will be those that have
been anticipated. These forward-looking statements involve a number
of risks, uncertainties or other assumptions that may cause actual
results or performance to be materially different from those
expressed or implied by these forward-looking statements. These
risks and uncertainties include, but are not limited to, those
discussed and identified in the public filings made or to be made
with the SEC by SHG, including the filings described above,
regarding the following: expectations regarding SHG’s strategies
and future financial performance, including its future business
plans, expansion plans or objectives, prospective performance and
opportunities and competitors, revenues, products and services,
pricing, operating expenses, market trends, liquidity, cash flows
and uses of cash, capital expenditures, and SHG’s ability to invest
in growth initiatives; SHG’s ability to scale and build the hangars
currently under development or planned in a timely and
cost-effective manner; the implementation, market acceptance and
success of SHG’s business model and growth strategy; the success or
profitability of SHG’s hangar facilities; SHG’s future capital
requirements and sources and uses of cash; SHG’s ability to obtain
funding for its operations and future growth; developments and
projections relating to SHG’s competitors and industry; the ability
to recognize the anticipated benefits of the business combination;
geopolitical risk and changes in applicable laws or regulations;
the possibility that SHG may be adversely affected by other
economic, business, and/or competitive factors; operational risk;
risk that the COVID-19 pandemic, and local, state, and federal
responses to addressing the pandemic may have an adverse effect on
SHG’s business operations, as well as SHG’s financial condition and
results of operations. Should one or more of these risks or
uncertainties materialize or should any of the assumptions made by
the management of SHG prove incorrect, actual results may vary in
material respects from those projected in these forward-looking
statements. SHG undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20231012706217/en/
Chicago Executive Airport Public Affairs: tori@serafin.com Sky
Harbour Airport Relations: estolpman@skyharbour.group Sky Harbour
Member Relations: asigourney@skyharbour.group Sky Harbour Investor
Relations: investors@skyharbour.group Attn: Francisco Gonzalez
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