Adani Defence Systems & Technologies has signed a definitive agreement to acquire Air Works, the country’s biggest maintenance, repair and overhaul (MRO) firm in the aviation sector, for `400 crore.
Air Works is a highly diversified independent MRO firm, with a pan-India network across 27 cities, Adani Defence said in a statement after signing the agreement on the sidelines of DefExpo22.
“… the maintenance, repair, and overhaul sector has a crucial role to play in both the defence and civilian aerospace sector. Add to this the ongoing modernisation programme to make India a large market for defence aircraft, and what emerges is one of the most exciting, comprehensive, at scale and digital MRO services within the boundaries of the nation,” said Ashish Rajvanshi, CEO of Adani Defence & Aerospace.
From the first P-8I aircraft Phase 32 checks to Phase 48 checks and MRO on landing gear of the Indian Air Force’s 737 VVIP aircraft, Air Works undertakes base maintenance for ATR 42/72, A320 and B737 fleet of aircraft from its EASA and DGCA-certified facilities at Mumbai, Delhi, Hosur and Kochi, the statement said.
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Rajvanshi said Air Works has proven capabilities and over its 70-year aviation legacy has delivered several India-first and industry-first projects. With the Adani Group’s capabilities, it will be an entity that represents what Atmanirbhar Bharat should look like, he said.
“India has the potential to become the MRO hub for the region across defence and civil aircrafts. It is a wonderful opportunity for Air Works and its employees to be subsumed under Adani Defence & Aerospace platform,” said D Anand Bhaskar, MD & CEO, Air Works Group.
Established in 1951, Air Works is the preferred MRO partner to global aviation OEMs, aircraft owners/ operators (including fixed wing and rotary wing), lessors, airlines and the Indian Defence Services.