Saker Aviation Services Stock

Saker Aviation Services, Inc., through its subsidiaries, operates in the aviation services segment of the general aviation industry.

The company serves as the operator of a heliport. The company's business activities are carried out as the operator of the Downtown Manhattan (New York) Heliport, and as a fixed base operation (FBO), a provider of aircraft maintenance and repair services (MRO). FBOs provide ground-based services, such as fueling and aircraft storage for general aviation, commercial and military aircraft, and other miscellaneous services.

The company's business activities at the Downtown Manhattan (New York) Heliport facility (the 'Heliport') commenced in 2008 when it was awarded the Concession Agreement by the City of New York to operate the Heliport, which it assigned to its subsidiary, FirstFlight Heliports, LLC doing business as Saker Aviation Services (FFH).

Customers

For the year ended December 31, 2022, three customers represented approximately 83 % of the company's revenue. The company has a security deposit in place for each of these customers.

Government Regulation

The company is subject to a variety of governmental laws and regulations that apply to companies in the aviation industry. These include, among other matters, compliance with the Federal Aviation Administration (FAA) rules and regulations, and local, regional, and national rules and regulations as they relate to environmental matters.

History

The company was formerly known as FirstFlight, Inc. and changed its name to Saker Aviation Services, Inc. in 2009.