Adani Defence Systems & Technologies Ltd. (ADSTL) has signed a share purchase agreement to acquire 85.8% shareholding in Air Works, India’s largest private sector maintenance repair and overhaul (MRO) company.
The acquisition cost would be at an enterprise value of Rs.400 crore, Adani Enterprises Limited informed the stock exchange on Monday.
“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,” Mr. Jeet Adani, director, Adani Airports was quoted in a press statement. The group manages seven top-tier airports including Mumbai, Ahmedabad and Lucknow which, together, account for 25% of passengers and 33% of air cargo in the country. The upcoming greenfield airport in Navi Mumbai being developed in a public-private partnership and expected to be operational next year is the eighth airport in its portfolio.
“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. In a time when Aatmanirbharta in defence is a national imperative, we stand fully committed to scaling domestic capabilities to serve both our armed forces and the broader aviation sector,” said Mr. Ashish Rajvanshi, CEO, Adani Defence & Aerospace.
Established in 1951, Air Works Group is India’s biggest MRO with the largest pan-India network presence across 27 cities with close to 1,500 employees. It counts global aviation OEMs, commercial airlines, military customers, business aviation companies, lessors. It offers services for 50 types of aircraft which include heavy checks, line maintenance, cabin & interiors solutions, exterior finishing and painting, avionics upgrades, integrations and retrofits, end-of-lease/ redelivery checks, maintenance training, and asset management services to domestic and international clients.
Published – December 23, 2024 07:16 pm IST