Adani Defence and Aerospace to acquire Air Works for 400 crores
October 28, 2022
The largest aircraft maintenance, repair, and overhaul (MRO) company in the nation, Air Works, will be purchased by Adani Defence and Aerospace, the defence manufacturing division of the Adani Group, for an enterprise value of 400 crores. The deal will expand the civil aviation holdings of the Adani Group, which is headed by billionaire Gautam Adani and manages seven airports throughout the nation: Mumbai, Ahmedabad, Lucknow, Thiruvananthapuram, Jaipur, Guwahati, and Mangalore.
According to a press statement from Adani Defence and Aerospace on October 18, the Indian MRO business, which is predicted to grow three times from $1.7 billion to $5 billion by 2030, is essential to both the defence and civilian aerospace sectors.
Air Works Group, which was founded in 1951, is India’s largest and most diverse independent MRO, with a presence in 27 cities across the country. Air Works offers aviation services to the majority of domestic airlines, including IndiGo, GoAir, SpiceJet, and Vistara. These services range from business and executive planes to airlines and defence platforms. International airlines including Qatar, Lufthansa, Turkish Airlines, FlyDubai, Etihad, and Virgin Atlantic are among the clients it serves.
In addition, Air Works has built up substantial operational capabilities for important aerospace and defence platforms in the nation. It performs base maintenance for the ATR 42/72, A320, and B737 fleet of aircraft from the Phase 32 checks on the first P-8I aircraft through the Phase 48 checks and MRO on the landing gear of the Indian Air Force’s 737 VVIP aircraft. from its EASA and DGCA-certified facilities at Mumbai, Delhi, Hosur and Kochi.
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