Acquisition of Swift Air by iAero Group

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Phoenix, Arizona-headquartered operator Swift Air is the subject of a definitive purchase agreement by recently formed iAero Group. The transaction is subject to regulatory approvals and is expected to close in Q1, 2019. Swift Air is an independent airline charter business with a fleet of 27 Boeing 737s converted to VIP configuration. Jeff Conry will stay on as its CEO.

This acquisition adds to iAero Group's portfolio of aviation businesses that includes 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 sq ft 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 it to leverage our capabilities to further its 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 customers growth needs in a manner that is unmatched in the industry.”