Adani Defence & Aerospace To Acquire Air Works For An Enterprise Value Of Rs 400 Crore
Air Works is the oldest MRO in India with presence across 27 cities, 6 maintenance bays, and 900+ maintenance experts
Adani Group-backed Adani Defence Systems & Technologies Ltd (ADSTL) has signed a definitive agreement to acquire Air Works, according to a release by Adani Group. Air Works, founded in 1951, is India’s biggest and highly diversified independent Maintenance, Repair, and Overhaul (MRO) with the largest pan-Indian network presence across 27 cities.
Air Works has developed extensive operational capabilities within the country for k.ey defence and aerospace platforms. From the first P-8I aircraft Phase 32 checks to Phase 48 checks and MRO on the landing gear of the Indian Air Force’s 737 VVIP aircraft, the firm undertakes base maintenance for ATR 42/72, A320 and B737 fleet of aircraft from its EASA and DGCA-certified units in Mumbai, Delhi, Hosur, and Kochi.
“Given India’s growth trajectory and the government’s focus to network the nation through a massive mesh of air connectivity, it is inevitable that the primary growth of India’s airline and airport sector lies ahead of it. Therefore, the MRO sector has a crucial role to play in both, the defence and civilian aerospace sector. Add to this the ongoing modernisation program to make India a large market for defence aircrafts, and what emerges is one of the most exciting, comprehensive, at scale and digital MRO services within the boundaries of the nation,” said Ashish Rajvanshi, CEO, Adani Defence & Aerospace.
“Air Works has impeccable proven capabilities and over its 70-year aviation legacy has successfully delivered several India-first and industry-first projects. Combine this with the Adani Group’s capabilities and what we get is an entity that truly represents what an Atmanirbhar Bharat in a critical sector should look like,” he added.
D Anand Bhaskar, MD and CEO, Air Works Group, said, “India has the potential to become the MRO hub for the region across defence and civil aircrafts. It is a wonderful opportunity for Air Works and its employees to be subsumed under Adani Defence & Aerospace platform. The government’s policy measures and initiatives, including convergence of civil and defence MRO would create economies of scale and huge employment opportunities.”
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