Adani Defence acquires MRO Air Works for Rs400 crore
25 Dec 2024
Adani Group has acquired an 85.8 per cent stake in Air Works, India’s largest and, perhaps, the oldest maintenance, repair, and overhaul (MRO) firm in India’s private sector, for Rs400 crore, expanding its presence to more areas of the aviation sector.
The acquisition was made through Adani Defence Systems and Technologies Ltd (ADSTL).
A pioneer in aircraft maintenance and repair services in India Air Works started off in a small way near Mumbai (then Bombay) Airport India in 1951, and now operates in 35 centres across India, with more than 1,300 employees.
With over 73 years of experience in servicing and repairing various aircraft, the company has expertise across an array of aviation services, including line maintenance, heavy checks, avionics, aircraft painting, and interior works.
At present, Air Works Group offers base maintenance services for various aircraft types with turboshaft, turboprop and rotary engines, from its facilities in Hosur (NIL), Mumbai (BOM), and Kochi (Cok) airports.
Air Works also provides MRO services for the Indian Navy’s P-8I aircraft and the Indian Air Force’s 737 VVIP fleet.
The acquisition will be beneficial for both Adani Defence and Air Works as it allows mutual integration of capabilities.
With regulatory approvals from over 20 international aviation authorities, Air Works will prove a proven asset for Adani Defence for global and domestic operations.
The acquisition is also key to the Adani Group’s success in developing an integrated aviation services ecosystem, according to Jeet Adani, director of Adani Airports.
The demand for aircraft maintenance and repair services in the country is expected to grow by leaps and bounds as India’s aviation sector is set for a major transformation, with plans to induct over 1,500 aircraft by various airlines.
