Thursday, 13 December 2018

iAero buys Swift Air

Photo Swift Air
iAero Group, a leading integrated aviation business, has signed a definitive agreement to purchase Swift Air, the leading independent US airline charter business.  The transaction is subject to regulatory approvals and is expected to close in Q1, 2019.  With the pending acquisition of Swift Air, iAero Group will add to its portfolio of aviation businesses acquired since its inception earlier this year including the leading engine MRO and leasing company, AeroThrust and airframe MRO AeroTech.  iAero Group is headquartered in Miami along with its MRO service businesses on a campus with more than 350,000 square feet of office and MRO space at Miami International Airport.

"Bringing Swift Air into the iAero Group creates an integrated aviation services platform and will enable the airline to leverage our capabilities to further their already exemplary customer service and impeccable safety record through access to our high quality, efficient, stateside maintenance services," says iAero Group Chief Executive Officer, Robert Caputo.  "In addition, with our aircraft acquisition capabilities in our engine and airframe leasing division, we have developed a pipeline of assets that will allow Swift Air to meet its customer's growth needs in a manner that is unmatched in the industry." 

Jeff Conry will remain as the leader of Swift Air as its CEO.  Jeff brings over thirty years of airline management experience and will be a welcomed addition to the iAero Group management team.

Swift Air was founded in 1997 and has evolved from a single corporate aircraft to a vibrant full-service aviation enterprise. It is the largest, independent airline charter business in the US with twenty-seven 737 aircraft providing services to professional and collegiate sports teams, entertainers, vacation companies domestically and internationally and government agencies. 

iAero Group is an integrated aviation platform co-founded by Chief Executive, Robert Caputo, Group President, David Doerr and Will Ashcroft, that provides a full range of services including engine and airframe MRO services, engine and airframe sale and leasing, and flight charter services.  Through the combination of leading companies in the MRO and aircraft charter industries, iAero Group has created unique capabilities, including a full range of aviation offerings with safety, quality and cost advantages that benefit all of our customers.  iAero Group has partnered with Blackstone/GSO, one of the world's leading investment firms with over $450 billion in assets under management, who holds a minority interest in iAero Group.