This paper studies the design and analysis of approximation algorithms for aggregating preferences over combinatorial domains, represented using Conditional Preference Networks (CP-nets). Its focus is on aggregating preferences over so-called swaps, for which optimal solutions in general are already known to be of exponential size. We first analyze a trivial 2-approximation algorithm that simply outputs the best of the given input preferences, and establish a structural condition under which the approximation ratio of this algorithm is improved to 4/3. We then propose a polynomial-time approximation algorithm whose outputs are provably no worse than those of the trivial algorithm, but often substantially better. A family of problem instances is presented for which our improved algorithm produces optimal solutions, while, for any ε, the trivial algorithm cannot attain a (2- ε)-approximation. These results may lead to the first polynomial-time approximation algorithm that solves the CP-net aggregation problem for swaps with an approximation ratio substantially better than 2.