Adani Defense Systems & Technologies Ltd. (ADSTL) has entered into a definitive agreement to acquire 85.8% stake in aircraft maintenance company Air Works India for an enterprise value of Rs 400 crore. The acquisition marks a significant development in India’s maintenance, repair and overhaul (MRO) sector, bringing one of the country’s leading private players under the Adani umbrella.

Air Works, a key player in the aviation services sector, operates in 35 cities across India and employs over 1,300 people. The company offers a wide range of services including line maintenance, heavy controls and avionics work for fixed and rotary wing aircraft. It also handles basic maintenance of narrowbody and turboprop aircraft at its facilities in Hosur, Mumbai and Kochi, with certifications from more than 20 international civil aviation authorities.

In addition to its commercial aviation services, Air Works has developed expertise in defense MRO, undertaking projects for aircraft used by the Indian Navy and Air Force. The acquisition by Adani Defense is seen as an effort to consolidate and expand its presence in both the commercial and defense aviation sectors.

Jeet Adani, Director, Adani Airports, highlighted the growing importance of the aviation sector in India, stating, “The country is on its way to becoming a global aviation hub, with a rapid increase in fleet size and connectivity. This acquisition allows us to strengthen our position in the MRO sector, which is a critical component of the aviation value chain.”

According to Adani Defence, the deal is in line with ongoing efforts to strengthen national capabilities in the defense sector under the government’s Aatmanirbhar Bharat initiative. Ashish Rajvanshi, managing director of Adani Defense & Aerospace, noted that the acquisition would enable Adani to expand its offering in the aviation sector while meeting the maintenance needs of both commercial operators and the armed forces.

Air Works has been a prominent player in the Indian aviation industry for decades, serving domestic and international customers. With this acquisition, Adani Defense aims to integrate Air Works’ expertise into its broader strategy to develop a comprehensive ecosystem of aviation services.

About Adani Defense & Aerospace
Adani Defense & Aerospace, a subsidiary of the Adani Group, focuses on developing products and solutions for India’s defense sector. Its activities include partnerships with start-ups and MSMEs, fostering innovation and contributing to the country’s self-sufficiency in defense manufacturing.

This acquisition comes at a time when India’s aviation sector is experiencing significant growth, creating opportunities for the expansion of maintenance and repair services to support the growing fleet size and demands of connectivity.