Integrated aviation business Aero Group has announced it has agreed to purchase US airline charter business Swift Air, the company said.
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.
iAero Group has partnered with investment firm Blackstone/GSO, with over USD 450 billion in assets under management, who holds a minority interest in iAero Group.
Swift Air 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.