Adani Defense has acquired aircraft maintenance company Air Works for Rs 400 crore, and is looking to strengthen its presence in the maintenance, repair and overhaul (MRO) sector.

Adani Defense Systems & Technologies Ltd. has signed (ADSTL) has finalized a definitive agreement to acquire 85.8% stake in aircraft maintenance company Air Works India for an enterprise value of Rs 400 crore. This acquisition represents a significant development in the maintenance, repair and overhaul (MRO) sector in India, bringing one of the country’s largest private sector players under the Adani umbrella.

Air Works, a major player in the aviation services sector, operates in 35 cities in India and employs over 1,300 employees. The company provides a wide range of services, including line maintenance, heavy inspections and avionics work for fixed-wing and rotorcraft. It also undertakes essential maintenance of narrow-body and turboprop aircraft at its facilities in Hosur, Mumbai and Kochi, with certifications from more than 20 international civil aviation authorities.

In addition to its commercial aviation services, Air Works has developed its expertise in defense MRO, undertaking projects for aircraft used by the Indian Navy and Air Force. The acquisition by Adani Defense is seen as an attempt to strengthen and expand its presence in the commercial and defense aviation sectors.

Highlighting the growing importance of the aviation sector in India, Jeet Adani, Director, Adani Airports, said: “The country is on track to become a global aviation hub, with a rapid increase in fleet size and connectivity. This acquisition allows us to strengthen our position in the maintenance, repair and overhaul sector, which “It is a critical component of the aviation value chain.”

According to Adani Defence, the deal is in line with ongoing efforts to enhance indigenous capabilities in the defense sector under the government’s Aatmanirbhar Bharat initiative. The acquisition will allow Adani to expand its offerings in the aerospace sector while meeting the maintenance needs of both commercial operators and armed forces, noted Ashish Rajvanshi, CEO, Adani Defense & Aerospace.

Air Works has been a prominent player in the Indian aviation industry for decades, serving both domestic and international clients. With this acquisition, Adani Defense aims to integrate Air Works’ expertise into its broader strategy to develop a comprehensive aviation services ecosystem.

About Adani Defense & Space
Adani Defense & Aerospace, an Adani group company, focuses on developing products and solutions for the defense sector in India. Its activities include establishing partnerships with startups and SMEs, promoting innovation, and contributing to the country’s self-reliance in defense manufacturing.

This acquisition comes at a time when the aviation sector in India is witnessing significant growth, creating opportunities for expansion of maintenance and repair services to support the increasing fleet size and connectivity requirements.