Private equity group buys majority stake in Spanish cargo airline Swiftair 

Spanish air cargo operator Swiftair has been acquired by Antin Infrastructure Partners, a private equity group headquartered in Paris, France, for €280 million. 

The transaction, through which the investment firm will acquire 70% of Swiftair, was announced on October 1, 2025.  

Swiftair’s founder and CEO, Salvador Moreno, will remain a minority shareholder of the company and retain the top executive role after the acquisition is completed. 

Founded in 2007, Antin Infrastructure Partners specializes in investing in cash-generating infrastructure and transportation businesses. It manages four separate investment funds which focus on energy & environment, digital technology, transportation and social infrastructure. 

Madrid-based Swiftair is a major player in the European air cargo and parcel delivery scene. According to ch-aviation, as of October 2025, it has a fleet of 49 aircraft operating under its own brand, ranging from A321 P2F freighters to different versions of the Boeing 737 and 757 and ATR turboprops. It also has one A321 and four more B737s on order. 

Additionally, Swiftair’s holding company, LUSAT, has controlling stakes in several other cargo businesses.  

The most prominent of these is Sweden-based West Atlantic Group, which was acquired by LUSAT for €20 million in 2019. The Malmö-based group is the parent company of two cargo airlines, West Atlantic Sweden and West Atlantic UK, which together operated a fleet of around 15 freighters.  

Since 2019, Swiftair’s parent company has also controlled Spanish cargo airline Cygnus Air (previously known as Gestair Cargo), which operates a fleet of five B757 freighters. 

Following the announcement of the acquisition, Spain’s main pilot union, SEPLA (Sindicato Español de Pilotos de Líneas Aéreas), has issued a public statement welcoming the change of ownership and criticizing Switfair’s current management team for what they claim is a continued unwillingness to negotiate an update of the current labor relations framework at the airline. The post Private equity group buys majority stake in Spanish cargo airline Swiftair  appeared first on AeroTime.

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