Adani Group to acquire Air Works
By MYBRANDBOOK
As part of its growing defence portfolio, the Adani Group is set to acquire Air Works, one of India’s biggest and highly diversified aircraft Maintenance, Repair and Overhaul (MRO) companies with the largest pan-India presence across 27 cities.
The Adani Defence Systems and Technologies Ltd have signed definitive agreements to acquire Air Works at a cost of Rs 400 crore. Air Works serves IndiGo, GoAir and Vistara, in addition to over a dozen foreign airlines including Lufthansa, Turkish Airlines, FlyDubai, Etihad, and Virgin Atlantic.
Ashish Rajvanshi, CEO of Adani Defence & Aerospace said that the MRO sector has a crucial role to play in both the defence and civilian aerospace sector. He said, “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.”
Air Works has been a partner to global aviation OEMs, aircraft owners and operators, lessors, airlines and the Indian defence services. It offers MRO services, heavy checks, line maintenance, cabin and interior refurbishment, exterior finishing and painting, avionics upgrades, retrofits, maintenance training, and redelivery checks.
D Anand Bhaskar, MD & CEO, Air Works Group said that India has the potential to become the Air Works hub for the nation. He said, “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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