Feather moult is an important and energy‐demanding avian life‐history trait that is necessary to maintain the function of the plumage by replacing abraded feathers with new ones. However, during moult, aerodynamic capacity is temporarily impaired by the reduction and shape change of the flight surface. Therefore, among aerial birds, adaptations may evolve to reduce this impairment. Here, we studied the timing, duration and sequence of the annual complete moult of adult Little Swifts Apus affinis in northern Israel by examining the plumage of 55 individuals monthly in their colony. Primary moult occurs over 191.7 ± 24.0 days, representing 52.5 ± 6.6% of the annual cycle, and overlaps with the breeding season, a rare occurrence among small Palaearctic bird species. In addition, primary moult duration was significantly affected by its timing such that individuals that started to moult later had a shorter moult duration than those that started to moult earlier. This relationship is most likely to be a result of the time available for moult, which is limited by breeding and also by the cold season and the expected decline in food availability. Moult overlap with breeding or cold seasons may involve energetic and functional costs. Our results indicate two strategies that appear sequentially: (1) a slow and long moult that largely overlaps with breeding, and (2) a shorter moult that overlaps less with breeding (both strategies avoid moulting during the cold season). Most Little Swifts (85.7%) moulted their rectrices in a centripetal sequence starting with the outermost pair of rectrices inward. This moult was later in relation to wing feather renewal and had almost no overlap with primary moult. Finally, we tested a method for non‐invasively monitoring moult of small species by collecting and sampling shed feathers without the need to capture the birds themselves, as has been successfully used for larger bird species. This work demonstrates the importance of aerodynamic considerations in the evolution of life‐history traits. Moult‐related aerodynamic costs may be an important evolutionary factor shaping moult strategy, including timing, duration and sequence, mainly among species, like swifts, that are highly dependent on their aerodynamic ability.