Adani Group on Monday stated it should purchase aviation upkeep, restore and overhaul (MRO) companies agency Air Works for an enterprise worth of ₹400 crore.
The emblem of the Adani Group is seen on the facade of its Company Home on the outskirts of Ahmedabad, India, November 21, 2024(Amit Dave/Reuters)
“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 stated in an announcement.
With operations spanning 35 cities and a workforce of over 1,300 personnel, Air Works brings in depth experience in servicing each fixed-wing and rotary-wing plane.
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The acquisition enhances Adani’s capabilities within the defence MRO sector, solidifying its place in India’s airborne defence ecosystem. This strategic transfer marks a pivotal step in Adani’s development trajectory, laying the muse for its growth into the civil aviation companies area.
Air Works provides an end-to-end bouquet of aviation companies spanning line upkeep, heavy checks, inside refurbishment, portray, redelivery checks, avionics in addition to asset administration companies to its Indian and international clients.
The corporate undertakes base upkeep for narrowbody and turboprop plane, in addition to rotary plane from its amenities at Hosur, Mumbai, and Kochi and with regulatory approvals from civil aviation authorities of greater than 20 international locations.
Along with being a market chief in civil aviation, Air Works has constructed vital capabilities in defence MRO, executing initiatives for key platforms of Indian Navy and Indian Air Pressure.
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“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,” stated 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, making a presence within the MRO sector is greater than only a strategic step — it is a dedication to constructing an built-in aviation companies ecosystem that strengthens the spine of India’s aviation infrastructure. Collectively, we’re excited to play a pivotal position in shaping the way forward for India’s skies,” he said.
“This landmark acquisition represents a pivotal step in Adani Defence & Aerospace’s mission to strengthen India’s MRO capabilities,” said Ashish Rajvanshi, CEO, Adani Defence & Aerospace.
“Our imaginative and prescient is to ship a full-spectrum MRO providing — spanning line, base, part, and engine upkeep — to satisfy the wants of each industrial and defence aviation sectors. At a time when Aatmanirbharta in defence is a nationwide crucial, we stand totally dedicated to scaling home capabilities to serve each our armed forces and the broader aviation sector.
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“This is our pledge to the nation — to build capabilities that secure our skies and strengthen our sovereignty,” he stated.
Adani Defence & Aerospace, part of the Adani Group, is into designing, improvement, and manufacturing of state-of-the-art defence merchandise.