Air Works

The acquisition is part of Adani Group's plans to expand in the aircraft services and maintenance, repair, and overhaul segment

Air Works, which has a workforce of more than 1,300 personnel, handles MRO work for commercial as well as defence aircraft

Adani Group on Monday said it will acquire aviation maintenance, repair and overhaul (MRO) services firm Air Works for an enterprise value of Rs 400 crore. "Adani Defence Systems & Technologies Ltd (ADSTL) has signed a share purchase agreement to acquire 85.8 per cent shareholding in Air Works, India's largest private sector MRO company with the largest pan-India footprint," the conglomerate said in a statement. With operations spanning 35 cities and a workforce of over 1,300 personnel, Air Works brings extensive expertise in servicing both fixed-wing and rotary-wing aircraft.

The MRO firm, which has six investors, received its first external funding from GTI Group and Punj Lloyd in 2007

Established in 1951, Air Works Group is India's biggest independent MRO with a pan-Indian presence across 27 cities

Boeing India and Air Works will commemorate their collaboration at the Boeing India Aatmanirbharta in Defence Conference which is being organized in New Delhi on Tuesday, May 10, 2022

The company has recently opened a new facility at Cochin and is looking for business from foreign airlines

Aerospace major Boeing on Thursday said it has entered into a strategic collaboration with Air Works Group for the maintenance, repair and overhaul of its Poseidon 8I maritime reconnaissance aircraft

Will look to double revenue in five years, aim for a public listing in 2020