Adani Defence acquires 86% shareholding in MRO firm Air Works at Rs 400 cr

Adani Defence Systems and Technologies (ADSTL) has signed an agreement to acquire 85.8 per cent stake in Air Works, India’s largest private sector aircraft maintenance, repair and overhaul (MRO) company, at a valuation of ~400 crore.

“Air Works undertakes base maintenance for narrow-body and turboprop aircraft, as well as rotary aircraft from its facilities at Hosur, Mumbai and Kochi,” a statement by ADSTL said.

Air Works has received regulatory approvals from civil aviation authorities of more than 20 countries.

With a workforce of more than 1,300 personnel, Air Works handles MRO works of commercial as well as defence aircraft.

Indian carriers have ordered about 1,500 commercial aircraft in the last two years. This would need a massive expansion of existing MRO services in the country.

Jeet Adani, Director, Adani Airports, said, “The Indian aviation industry stands at a transformative juncture, now the third largest globally and on track to induct over 1,500 aircrafts in the coming years.”

“For us, creating a presence in the MRO sector is more than just a strategic step-- it’s a commitment to building an integrated aviation services ecosystem that strengthens the backbone of India’s aviation infrastructure. Together, we are excited to play a pivotal role in shaping the future of India’s skies,” he added.

IndiGo and privatised Air India now own more than more than 90 per cent of the domestic passenger market. While IndiGo recently ordered 500 planes from Airbus, Air India has ordered 570 planes, showing the scope of the growth in the Indian aviation sector. Akasa Air in January ordered 150 planes from Boeing.