Second Richest man in the world does not stop , after multiple Airports under the management of one of his companies — Adani Airports , another of his company 'Adani Defence & Aerospace' , is now in the in the process of acquiring India's Leading MRO for an enterprise value of INR 400 Crore (USD 48,593,520).
His company Adani Defence Systems & Technologies Ltd. (ADSTL) said to have signed definitive agreements to acquire Air Works , India’s biggest and highly diversified independent MRO with the largest pan-India network presence across 27 cities.
Over the years , Air Works has developed extensive operational capabilities within the country for key defence and aerospace platforms. From the first P-8I aircraft Phase 32 checks to Phase 48 checks and MRO on the landing gear of the Indian Air Force’s 737 VVIP aircraft.
Air Works also undertakes 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.
“Given India's growth trajectory and the Government's focus to network the nation through a massive mesh of air connectivity, it is inevitable that the primary growth of India's airline and airport sector lies ahead of it. Therefore, 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 of the nation.” said Ashish Rajvanshi, CEO of Adani Defence & Aerospace."Air Works has impeccable proven capabilities and over its 70-year aviation legacy has successfully delivered several India-first and industry-first projects. Combine this with the Adani Group's capabilities and what we get is an entity that truly represents what an Atmanirbhar Bharat in a critical sector should look like."
D Anand Bhaskar, MD & CEO, Air Works Group said,
“India has the potential to become the MRO hub for the region across defence and civil aircrafts. It is a wonderful opportunity for Air Works and its employees to be subsumed under Adani Defence & Aerospace platform. The government’s policy measures and initiatives including convergence of civil and defence MRO would create economies of scale and huge employment opportunities.”
Established in 1951 , Air Works Group is India’s biggest and highly diversified independent MRO with the largest pan-India network presence across 27 cities.
The MRO is famous among global aviation OEMs, aircraft owners/ operators (including Fixed Wing & Rotary Wing), lessors, airlines and the Indian Defence Services, offering a host of services including MRO and heavy checks, Line maintenance, Cabin and Interior refurbishment, Exterior finishing and painting.
It also undetakes modification works like Avionics upgrades, integrations and retrofits , End-of-lease/ redelivery checks, Maintenance training (CAR 147), and Asset Management services to domestic and international clients.
New owners — Adani Defence & Aerospace have already established capabilities in India across a wide domain such as small arms, unmanned aerial systems, radars, defence electronics & avionics, tactical communication systems, and electro-optical systems with a proven record to support the Indian Armed Forces and other para-military forces in India.
On the other hand, Adani Group forayed into the airports sector in 2019. Incubated within the group’s flagship company Adani Enterprises Ltd. (AEL) , Adani Airports won the mandate to modernize and operate six airports – Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati and Thiruvananthapuram – through the Airports Authority of India’s globally competitive tendering process.
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