Swiftair, European leader in outsourced express airfreight, welcomes Antin to accelerate its growth

Black and white image of a long and empty meeting room table

Seventh investment by Antin’s Mid Cap Fund I

Paris, London, New York

Antin Infrastructure Partners is acquiring a majority stake in Swiftair Group to support a new phase of growth at the leading European provider of aircraft leasing and air transportation solutions for time-critical cargo.

Based in Madrid, Swiftair was founded in 1996 by Salvador Moreno, who has led its strong expansion and will remain as CEO and a significant shareholder. The company is a leading provider of aircraft, crew, operations and maintenance (ACMI) for express airfreight in Europe of such goods as pharmaceuticals and food products. Swiftair provides mission critical services to blue-chip clients with whom it has enjoyed long-standing relationships, many of which span decades, including delivery service companies such as DHL, FedEx and UPS and post and parcel operators such as the UK’s Royal Mail and France’s La Poste.

The company currently operates 77 routes in over 45 countries with its fleet of 71 airplanes, a majority of which are owned. In addition, Swiftair owns and operates a state-of-the art hangar in Madrid Barajas airport and has a strong network of 38 maintenance centres strategically positioned to seamlessly cover its clients, mostly across Europe.

With 2024 net revenue of €342 million and over 1,350 employees, Swiftair has a strong track record of organic growth and market consolidation, through such acquisitions as Cygnus Air in 2018 and West Atlantic in 2019. The company is ideally positioned to continue its growth, capitalising on ongoing demand growth in time-critical delivery services.

Antin’s Mid Cap Fund I will acquire a significant majority stake in the Swiftair, while Mr Moreno will retain a significant minority stake, reinvesting in the company alongside other members of the management team.

Upon closing, this investment will be the seventh by Antin’s €2.2 billion Mid Cap Fund I. Antin’s mid cap strategy focuses on smaller and medium-sized investments in established infrastructure companies in Europe and North America across the energy and environment, digital, transport and social sectors.

Francisco Cabeza and Simon Soder, respectively Partner and Senior Partner at Antin Infrastructure Partners, commented: “It is a true honour for us to partner with Salvador Moreno, an exceptional entrepreneur who has made a leader of Swiftair, and to help the company reach the next level. With its scale, unique market positioning and track record of providing reliable and essential transportation services to its strategic global client base, the company is a perfect fit for our mid cap strategy. Airfreight is an essential part of supply chains for time-sensitive cargo, supported by long-term tailwinds. We look forward to working with Salvador and Swiftair’s team to support the company’s continued expansion journey and the needs of its customers.”

Salvador Moreno, CEO of Swiftair, added: “We are delighted to welcome Antin to jointly write a new chapter in Swiftair’s successful growth journey. With Antin’s support, we will be able to accelerate our strategy, notably continuing to optimize and invest in our fleet, and further consolidate our market leadership, both organically and through new acquisitions. My team and I are excited to start executing this growth plan with Antin.”

The transaction is expected to close in Q4 2025.

Antin was advised by Deutsche Bank and BBVA as financial co-advisers and Perez Llorca as legal adviser. Swiftair was advised by Morgan Stanley as financial adviser and CMS Albiñana as legal adviser.

About Antin Infrastructure Partners

Antin Infrastructure Partners is a leading private equity firm focused on infrastructure. With over €33 billion in assets under management across its Flagship, Mid Cap and NextGen investment strategies, Antin targets investments in the energy and environment, digital, transport and social infrastructure sectors. With offices in Paris, London, New York, Seoul, Singapore and Luxembourg, Antin employs over 240 professionals dedicated to growing, improving and transforming infrastructure businesses while delivering long-term value to portfolio companies and investors. Majority owned by its partners, Antin is listed on Euronext Paris (Ticker: ANTIN – ISIN: FR0014005AL0). For more information visit: www.antin-ip.com/

About Swiftair Group

Swiftair Group is one of the market leading providers of dedicated airfreight capacity provision to Global Integrators, Mail Organisations and Freight Forwarders. Swiftair group has a well-established geographic network across Europe, UK and West Africa and operates a fleet of 71 aircraft comprised of Boeing 757, Airbus 321, Boeing 737-800, Boeing 737-400, ATR-72, Embraer 120 and Fairchild Metro III. Swiftair was founded in 1996, employs more than 1,350 staff is headquartered in Madrid, Spain and has five operating airlines in Europe and the United Kingdom. For FY 2024, Swiftair reported net revenues of €342 million.

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