Saker Aviation enters one-year revocable permit to operate Downtown Manhattan Heliport

Saker Aviation Services, Inc.

Agreement effective May 1, 2023, term of one year, but terminable at will by NYC Commissioner with 5 business days' notice.
Operator pays $5,000 monthly administrative fee to NYCEDC; $60,000 security deposit required.
Prior concession expired April 30, 2023; temporary authorization bridges while NYCEDC conducts RFP for new long-term deal.
Operator retains all revenue but faces immediate termination without compensation if City decides.
Company expects additional agreement to clarify economic terms, including possible extra fees.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Saker Aviation Services, Inc. entered into Temporary Use Authorization Agreement with City of New York (DSBS) (effective 2023-05-01).

Action: entry
Counterparty: City of New York (DSBS)
Effective: 2023-05-01

Exact text from the filing

On April 28, 2023, the Company, through its fully owned subsidiary, FirstFlight Heliports, LLC d/b/a Saker Aviation Services entered into a Temporary Use Authorization Agreement (the “Agreement”) effective as of May 1, 2023, with the City of New York acting by and through the New York City of Department of Small Business Services (“DSBS”).

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Saker Aviation Services, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-23-012577

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