Adani Defence And Aerospace To Acquire Air Works For Rs 400 Crore
Adani Defence and Aerospace has signed a definitive agreement on Tuesday to acquire maintenance, repair and operations company Air Works for Rs 400 crore.
Air Works is the country's oldest and biggest independent MRO with a pan-India network spanning 27 cities, six maintenance bays and more than 900 maintenance experts, Adani Defence said in a statement.
Operational capabilities of the MRO player include 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 company has also worked on the P-8I aircraft, which is being currently used by the Indian Navy.
Air Works is the preferred MRO partner to global aviation original equipment manufacturers, aircraft owners and operators—including fixed wing and rotary wing, lessors, airlines and the Indian Defence Services, Adani Defence said.
The company offers a host of services including MRO and heavy checks, line maintenance, cabin and interior refurbishment, exterior finishing and painting, avionics upgrades, integrations and retrofits, end-of-lease/redelivery checks, CAR 147 maintenance training, and asset management services to domestic and international clients.
"... 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 program to make India a large market for defence aircrafts, and what emerges is one of the most exciting, comprehensive, at scale and digital MRO services within the boundaries," said Ashish Rajvanshi, chief executive officer of Adani Defence and Aerospace.
"India has the potential to become the MRO hub for the region across defence and civil aircrafts... The government's policy measures and initiatives including convergence of civil and defence MRO would create economies of scale and huge employment opportunities," said D Anand Bhaskar, managing director and chief executive officer of Air Works Group.
Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.
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