Swiftair, European Leader in Outsourced Express Airfreight, Welcomes Antin to Accelerate Its Growth

Regulatory News:

Antin Infrastructure Partners (Paris:ANTIN) 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.”