iAero Group, a Miami International-based integrated aviation platform business with ties to private equity, says it has completed the acquisition of charter specialist Swift Air (United States of America) (WQ, Phoenix Sky Harbor).

Swift Air now joins iAero Group's other aviation-related assets, the engine MRO and leasing firm AeroThrust and airframe MRO AeroTech. The value of the transaction has not been disclosed.

The Arizona-based charter company will now have access to iAero's MRO and aircraft refurbishment capabilities, the group said in a statement. This will allow it "to build and maintain the highest quality and most flexible fleet of aircraft in the market", while enabling it to reduce costs, increase in-service rates, and extend the life of its aircraft.

Jeff Conry, who remains in his position as chief executive of Swift Air, said that joining iAero would give the charter firm "access to new capital to refresh and expand our fleet."

Swift Air operates a fleet of two B737-300s, one B737-300(F), twenty-one B737-400s, and four B737-800s, while its Swift Aircraft Management (Phoenix Sky Harbor) subsidiary operates a fleet of private jets that includes three Legacy 600/650s.