New Delhi: Adani Group said on Monday that it will acquire aviation maintenance, repair and overhaul (MRO) services firm Air Works for an enterprise value of Rs 400 crore.
"Adani Defence Systems & Technologies Ltd (ADSTL) has signed a share purchase agreement to acquire 85.8 per cent shareholding in Air Works, India's largest private sector MRO company with the largest pan-India footprint," the conglomerate said in a statement.
With operations spanning 35 cities and a workforce of over 1,300 personnel, Air Works brings extensive expertise in servicing both fixed-wing and rotary-wing aircraft. The acquisition enhances Adani's capabilities in the defence MRO sector, solidifying its position in India's airborne defence ecosystem. This strategic move marks a pivotal step in Adani's growth trajectory, laying the foundation for its expansion into the civil aviation services domain.
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Adani acquires Air Works, boosts aviation and defence ecosystem.
Air Works offers an end-to-end bouquet of aviation services spanning line maintenance, heavy checks, interior refurbishment, painting, redelivery checks, avionics and asset management services to its Indian and global customers. The company undertakes base maintenance for narrowbody and turboprop aircraft and rotary aircraft from its facilities at Hosur, Mumbai, and Kochi, with regulatory approvals from civil aviation authorities of more than 20 countries. In addition to being a market leader in civil aviation, Air Works has built significant capabilities in defence MRO, executing projects for key platforms of the Indian Navy and Indian Air Force.
Adani Group's Strategic Push to Strengthen India's Aviation and Defence Ecosystem
"The Indian aviation industry stands at a transformative juncture, now the third-largest globally and on track to induct over 1,500 aircraft in the coming years," said Adani Airports Director Jeet Adani. "This growth aligns seamlessly with the government's vision to connect every corner of our nation, creating unprecedented opportunities in aviation services. "For us, creating a presence in the MRO sector is more than just a strategic step - it's a commitment to building an integrated aviation services ecosystem that strengthens the backbone of India's aviation infrastructure. Together, we are excited to play a pivotal role in shaping the future of India's skies," he said.
"This landmark acquisition represents a pivotal step in Adani Defence & Aerospace's mission to strengthen India's MRO capabilities," the CEO of Adani Defence & Aerospace, Ashish Rajvanshi, said.
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"Our vision is to deliver a full-spectrum MRO offering - spanning line, base, component, and engine maintenance - to meet the needs of both commercial and defence aviation sectors. At a time when Aatmanirbharta is in defence, a national imperative, we stand fully committed to scaling domestic capabilities to serve both our armed forces and the broader aviation sector. "This is our pledge to the nation - to build capabilities that secure our skies and strengthen our sovereignty," he said.
Adani Defence & Aerospace, an arm of the Adani Group, specializes in designing, developing and manufacturing state-of-the-art defence products.
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