On Monday said it will acquire aviation repair, maintenance and overhaul (MRO) services firm Air Works for an enterprise value of Rs 400 crore.
“Adani Defense Systems and Technologies Limited (ADSTL) has signed a share purchase agreement to acquire 85.8 per cent stake in Air Works, India’s largest private sector MRO company, the group said in a statement.
With operations spread across 35 cities and a workforce of over 1,300 employees, Air Works brings extensive expertise in servicing both fixed-wing and rotary-wing aircraft.
The acquisition enhances Adani’s capabilities in the defense MRO sector, strengthening its position in India’s aerospace defense ecosystem. This strategic move marks a decisive step in Adani’s growth path, laying the foundation for its expansion into the civil aviation services sector.
Air Works offers its Indian and global customers an end-to-end bouquet of aviation services spanning line maintenance, heavy checks, interior refurbishment, painting, redistribution checks, avionics as well as asset management services.
The company operates narrowbody and turboprop aircraft as well as rotary aircraft based in Hosur, Mumbai and Kochi and maintains 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 defense MRO, executing projects for key platforms of the Indian Navy and Indian Air Force.
“The Indian aviation industry stands at a transformative juncture, now the third largest in the world and on track to include more than 1,500 aircraft in the coming years,” said Jeet Adani, Director, Adani Airports.
“This growth seamlessly aligns with the government’s vision to connect every corner of our nation, creating unprecedented opportunities in air service.
“For us, creating a presence in the MRO sector is not just a strategic move – it is a commitment to build an integrated aviation services ecosystem that strengthens the backbone of India’s aviation infrastructure. Together, we are excited to play a significant role in shaping the future of India’s skies,” he said. said
“This historic acquisition represents a significant step in Adani Defense & Aerospace’s mission to strengthen India’s MRO capabilities,” said Ashish Rajvanshi, CEO, Adani Defense & Aerospace.
“Our vision is to provide a full-spectrum MRO offering for spanning line, base, component and engine maintenance to meet the needs of both the commercial and defense aviation sectors. At a time when self-reliance in defense is a national imperative, we look forward to serving our armed forces and the wider aviation sector. We are fully committed to scaling domestic capabilities to serve both.
“It is a commitment to our nation to build capabilities that protect our skies and strengthen our sovereignty,” he said.
Adani Defense & Aerospace, a part of the Adani Group, designs, develops and manufactures advanced defense products.