On 2025‑10‑21, Sky Harbour Group Corporation announced that it had entered into a floating‑to‑fixed interest rate swap with an affiliate of JPMorgan Chase Bank, N.A. The swap applies to the company’s $200 million tax‑exempt warehouse facility and locks in a fixed rate of 4.73% for a five‑year period.
By converting the variable‑rate debt to a fixed rate, Sky Harbour reduces its exposure to rising interest rates and stabilizes its interest‑expense profile. The lower, predictable cost of capital improves the company’s debt‑service coverage ratios and frees cash that can be deployed toward new campus construction and other growth initiatives.
The transaction aligns with Sky Harbour’s broader capital‑structure strategy, providing a stable cost base for future financing and supporting the company’s goal of reaching consolidated cash‑flow breakeven by the end of 2025. The fixed‑rate commitment is a key component of the firm’s plan to fund its accelerated expansion of the Home Base Operator network.
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