Adani Defense & Aerospace Signs Agreement to Buy Air Works for ₹400 Crore
The largest private sector maintenance, repair and overhaul (MRO) company in India, Air Works has agreed to be acquired by Adani Defense & Aerospace for an enterprise value of ₹400 crore according to a binding deal inked on Monday.
“Adani Defense Systems & Technologies Ltd (ADSTL) has signed a share purchase agreement to acquire 85.8 per cent shareholding in Air Works India (Engineering) Private Ltd,” a company statement said.
With regulatory permits from civil aviation authorities in over 20 countries, Air Works does base maintenance for rotary, narrow-body and turboprop aircraft from its facilities in Hosur, Mumbai and Kochi.
According to the announcement, Air Works is a global leader in civil aviation and has developed strong defense MRO capabilities carrying out projects for important Indian Navy and Indian Air Force platforms.
“The acquisition enhances the Adani Group’s capabilities in the defense MRO sector, solidifying its position in India’s airborne defense ecosystem,” the statement said.
According to the statement, this strategic initiative is a turning point in the Adani Group’s growth trajectory and lays the groundwork for its future expansion into the civil aviation services sector.
Air Works which employs more than 1,300 people and operates in 35 cities offers a wealth of experience in maintaining both fixed-wing and rotary-wing aircraft.
According to the statement, the MRO company provides its Indian and international clients with an end-to-end suite of aviation services that includes avionics, line maintenance, heavy checks, interior renovation, painting, redelivery checks and asset management.
“The Indian aviation industry stands at a transformative juncture, now the third largest globally and on track to induct over 1,500 aircraft in the coming years,” said Jeet Adani, Director, Adani Airports.
“This growth aligns seamlessly with the government’s vision to connect every corner of our nation, creating unprecedented opportunities in aviation services. 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.”
Adani Defense & Aerospace CEO Ashish Rajvanshi said: “This landmark acquisition represents a pivotal step in Adani Defense & Aerospace’s mission to strengthen India’s MRO capabilities.”
“Our vision is to deliver a full-spectrum MRO offering – spanning line, base, component and engine maintenance – to meet the needs of both commercial and defense aviation sectors. In a time when Aatmanirbharta in defense is a national imperative, we stand fully committed to scaling domestic capabilities to serve both our armed forces and the broader aviation sector. This is our pledge to the nation-to build capabilities that secure our skies and strengthen our sovereignty.”
As a division of the Adani Group, Adani Defense & Aerospace is a leader in the creation, design and production of cutting-edge defense equipment. According to the corporate statement, the company has also created an ecosystem of MSMEs and start-ups with quality management systems, best in class procedures and an export-oriented mindset.
