Saker Aviation Services, Inc.

What they do

The Company previously operated the Downtown Manhattan Heliport under a concession agreement with the City of New York through March 29, 2025. As of December 2025, it has commenced providing strategic financial advisory services to clients. Operations are currently limited, with no heliport business and only nascent advisory revenue.

Revenue drivers

• Strategic financial advisory services — Started in December 2025; only source of current revenue. Generated $5,000 in Q4 2025 and $15,000 in Q1 2026, indicating very early stage.
• Downtown Manhattan Heliport (discontinued) — Formerly the main revenue source; operated under a concession agreement until March 29, 2025. Generated $9.2M revenue in 2024, but ceased entirely.

Recent performance

For the fiscal year 2025, revenue collapsed to $1.3M from $9.2M in 2024, and the company recorded a net loss of $1.1M versus net income of $1.3M in 2024. Operating cash flow was negative $604,147 in 2025, following a negative $599,580 in 2024. In Q1 2026, revenue was only $15,000, with cash and equivalents of $4.5M and total assets of $9.0M as of March 31, 2026. The company has a strong balance sheet with no long-term debt.

Strategy

The company is pivoting to strategic financial advisory services, which began in December 2025. Management is focused on growing this new business and identifying alternative revenue streams. There is no stated plan to return to heliport operations; the prior concession was awarded to another company in November 2024.

Risks

• Single-source revenue loss — The loss of the Downtown Manhattan Heliport concession removed the company's primary revenue engine, and the new advisory business is minimal.
• Go-concern risk — If the financial advisory business does not generate sufficient revenue or alternative streams are not found, the company may cease operations.
• Key person dependence — The company relies heavily on its sole executive officer and director; losing this person could hinder an orderly wind-down or transition.
• Investment company risk — Given its large cash and investments ($4.5M cash and $3.7M investments as of March 31, 2026), there is a risk of being deemed an investment company under the 1940 Act, which would impose burdensome compliance and restrictions.

Outlook

Management is seeking to build the financial advisory business and secure new revenue streams, but there is no concrete guidance on future revenue or profitability. The company's large cash position provides a buffer, but without significant new business, the outlook remains uncertain.