Adani Group to acquire air works for ₹400 crore in expansion move

The Adani Group has announced its plan to acquire Air Works, a leading aircraft maintenance, repair, and overhaul (MRO) company, for an enterprise value of ₹400 crore. This move is expected to enhance Adani’s presence in the aviation and defence sectors. The acquisition will be carried out through Adani Defence Systems & Technologies Ltd (ADSTL), which will purchase an 85.8% shareholding in Air Works, as stated in the official announcement.

About air works

Air Works is a significant player in the Indian aviation sector with a presence across 35 cities and a workforce of over 1,300 employees. The company provides a wide range of aviation services, including line maintenance, heavy checks, interior refurbishment, painting, avionics upgrades, redelivery checks, and asset management. It also undertakes base maintenance for narrow-body aircraft, turboprop planes, and rotary aircraft from facilities in Hosur, Mumbai, and Kochi. Air Works holds regulatory approvals from over 20 countries, making it a trusted name in the global aviation sector.

In addition to its strong position in civil aviation, Air Works has developed notable expertise in defence MRO. It has executed key projects for the Indian Navy and the Indian Air Force, contributing to critical platforms. This dual expertise in civil and defence aviation has made Air Works an attractive acquisition target for Adani Group.

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Strategic importance of the acquisition

This acquisition aligns with Adani Group’s strategy to strengthen its capabilities in the defence MRO sector while expanding into civil aviation services. According to Jeet Adani, Director of Adani Airports, India’s aviation industry is at a transformative stage. With India now being the third-largest aviation market globally and expected to induct over 1,500 new aircraft in the coming years, opportunities in aviation services are expanding rapidly.

Adani Defence & Aerospace CEO Ashish Rajvanshi highlighted that this acquisition represents a commitment to building a robust aviation ecosystem. The company aims to provide a comprehensive range of MRO services, including line, base, component, and engine maintenance. This is part of the broader goal of achieving Aatmanirbharta (self-reliance) in the defence sector. The acquisition supports India’s vision of strengthening domestic capabilities in aviation and ensuring the safety and sovereignty of its skies.

The Adani Group’s focus on creating an integrated aviation services ecosystem underscores its commitment to supporting India’s growing aviation needs. This acquisition is a step forward in enhancing the infrastructure that underpins India’s aviation industry.