Adani Defence Systems & Technologies Ltd. (ADSTL), a subsidiary of Adani Enterprises and the defence manufacturing arm of Adani Group, has recently inked a definitive agreement to acquire one of India’s oldest MRO companies Air Works which currently has a presence across 27 cities for an enterprise value of Rs 400 crore ($48.2 million).
The Adani Group which currently operates seven airports in India is expected to strengthen its civil aviation portfolio with this move as Air Works is one of India’s largest independent aircraft maintenance, repair, and overhaul (MRO) companies with a 70-year-old legacy.
This development also follows that of Adani Group setting up one of India’s first comprehensive aircraft MRO facilities in Nagpur that is slated to offer maintenance services in partnership with Indamer, an aviation services company.
Air Works was established in 1951 and has been a partner to global aviation OEMs, aircraft owners and operators, lessors, airlines, and the Indian defence services. It offers MRO services, heavy checks, line maintenance, cabin and interior refurbishment, exterior finishing and painting, avionics upgrades, retrofits, maintenance training, and redelivery checks.
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