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| Global airport operators eye stake in Axis Aerospace's aviation hub |
| Raghuvir Badrinath / Bangalore Nov 03, 2009, 12:35 IST |
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Global airport operators from the European Union and South East Asia are in active discussion to pick up a strategic stake in the Rs 1,000 crore aviation hub being put up by Axis Aerospace in Hassan district of Karnataka.
Axis Aerospace with interests in aviation infrastructure, lifecycle support systems, strategic & defence technologies and engineering design are among the key businesses being pursued by Rajeev Chandrasekhar after exiting the mobile telecom space for an enterprise value of $1.3 billion.
Sudhakar Gande, vice chairman, Axis Aerospace & Technologies, confirmed interest from global majors to pick up stake in the aviation hub which will involve setting up an airport, an MRO unit with focus on modification, component maintenance in addition to various lifecycle management processes for an aircraft.
“Majority of the 960 acres of land for this project has been acquired and work is progressing,” Gande added. This aviation hub is one of the key pieces of a large aviation picture being put together by Axis Aerospace.
In addition to this aviation hub, Axis is setting up an MRO dedicated for aircraft engines at Devanahalli adjacent to the international airport in Bangalore. Axis is also set to kickstart private jet operations during next year.
Elaborating on the game plan being adopted by Axis to gain stronghold in the aviation design and maintenance segment, Gande said: “Except running a civil airline, we are in most of the segments of aviation lifecycle. Right from engineering design to lifecycle support systems to leveraging the offset opportunities we are positioned to be among the top five in the country.”
Axis, as part of this strategy, recently gained controlled of Bangalore-based CADES which specialises in design related services in aerospace, defence, automotive, transportation and energy sectors. “This acquisition is a key in our strategy. It will help synergise with Axis IT&T’s existing engineering and aviation businesses and will help us in becoming the choice partner in India to aerospace, defense, auto and off-highway majors in the world,” detailed Gande. Axis IT&T is the flagship firm of the group in the engineering services business.
Post this acquisition of CADES, Axis gets the critical mass of 700 engineers in design vertical, positioning them among the top 5 pureplay engineering services company in the Indian market by end of this financial year. On a consolidated basis, Axis IT&T and CADES recorded a turnover of Rs 100 crore.
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