New Delhi: Adani Defence Systems & Technologies Ltd (ADSTL), a wholly owned subsidiary of Adani Enterprises, has signed a share purchase agreement to acquire 85.8 per cent shareholding in Air Works India (Engineering) Private Limited, the country’s largest private sector aircraft maintenance, repair, and overhaul (MRO) company, for an enterprise value of ₹400 crore. The announcement was made by Adani Enterprises on December 23.
In a regulatory filing, Adani Enterprises said that this acquisition is aimed at enhancing Adani Defence’s presence in the aviation sector and expanding its capabilities in both civil and defence MRO services. Adani Defence first announced in October 2022 its plan to acquire Air Works.
Director of Adani Airports, Jeet Adani said, “The Indian aviation industry stands at a transformative juncture, now the third largest globally and on track to induct over 1,500 aircraft in the coming years. This growth aligns seamlessly with the Government’s vision to connect every corner of our nation, creating unprecedented opportunities in aviation services. For us, 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.”
Offering an end-to-end bouquet of aviation services spanning line maintenance, heavy checks, interior refurbishment, painting, redelivery checks, avionics as well as asset management services to its Indian and global customers, Air Works undertakes base maintenance for narrowbody and turboprop aircraft, as well as rotary aircraft from its facilities at Hosur, Mumbai and Kochi. Air Works holds regulatory approvals for aircraft maintenance from civil aviation authorities in more than 20 countries.
“This landmark acquisition represents a pivotal step in Adani Defence & Aerospace’s mission to strengthen India’s MRO capabilities. 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. This is our pledge to the nation—to build capabilities that secure our skies and strengthen our sovereignty,” stated Ashish Rajvanshi, CEO, Adani Defence & Aerospace.
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