Adani Defence to Acquire Majority Stake in Air Works for Rs 400 Cr
24 Dec 2024
2 Min Read
CW Team
Adani Defence & Aerospace, a subsidiary of Adani Enterprises, has signed an agreement to acquire an 85.8 per cent stake in Air Works, India鈥檚 largest private-sector aircraft maintenance, repair, and overhaul (MRO) company, for Rs 4 billion.
The existing shareholders of Air Works include Punj Lloyd, GTI Capital, and the Menon family. Ravi S Menon, a member of the founding family, is currently serving as a director on the company鈥檚 board.
Ashish Rajvanshi, the Chief Executive Officer of Adani Defence & Aerospace, stated that the acquisition marks a crucial step in the company鈥檚 mission to strengthen India鈥檚 MRO capabilities. He emphasised that their vision is to offer a comprehensive MRO service covering line, base, component, and engine maintenance to meet the needs of both commercial and defence aviation sectors. He also highlighted the commitment to scaling domestic capabilities to serve the armed forces and the broader aviation sector, especially as self-reliance in defence becomes a national priority.
Air Works operates in 35 cities, with major facilities in Hosur, Mumbai, and Kochi, employing over 1,300 personnel. The company provides commercial aircraft line and base maintenance services, in addition to offering maintenance for the Indian Navy's Boeing P-8I maritime surveillance aircraft and landing gear services for the Indian Air Force鈥檚 Boeing 737 aircraft.
Jeet Adani, Director of Adani Airports Holdings, remarked that establishing a presence in the MRO sector is not just a strategic move but a commitment to creating an integrated aviation services ecosystem that will bolster India鈥檚 aviation infrastructure.
The acquisition is expected to significantly enhance Adani Group's airport operations. Adani Airport Holdings currently holds a controlling stake in Mumbai International Airport and Navi Mumbai International Airport, and operates six other airports in Ahmedabad, Jaipur, Lucknow, Thiruvananthapuram, Mangaluru, and Guwahati.
Adani Defence & Aerospace, a subsidiary of Adani Enterprises, has signed an agreement to acquire an 85.8 per cent stake in Air Works, India鈥檚 largest private-sector aircraft maintenance, repair, and overhaul (MRO) company, for Rs 4 billion.
The existing shareholders of Air Works include Punj Lloyd, GTI Capital, and the Menon family. Ravi S Menon, a member of the founding family, is currently serving as a director on the company鈥檚 board.
Ashish Rajvanshi, the Chief Executive Officer of Adani Defence & Aerospace, stated that the acquisition marks a crucial step in the company鈥檚 mission to strengthen India鈥檚 MRO capabilities. He emphasised that their vision is to offer a comprehensive MRO service covering line, base, component, and engine maintenance to meet the needs of both commercial and defence aviation sectors. He also highlighted the commitment to scaling domestic capabilities to serve the armed forces and the broader aviation sector, especially as self-reliance in defence becomes a national priority.
Air Works operates in 35 cities, with major facilities in Hosur, Mumbai, and Kochi, employing over 1,300 personnel. The company provides commercial aircraft line and base maintenance services, in addition to offering maintenance for the Indian Navy's Boeing P-8I maritime surveillance aircraft and landing gear services for the Indian Air Force鈥檚 Boeing 737 aircraft.
Jeet Adani, Director of Adani Airports Holdings, remarked that establishing a presence in the MRO sector is not just a strategic move but a commitment to creating an integrated aviation services ecosystem that will bolster India鈥檚 aviation infrastructure.
The acquisition is expected to significantly enhance Adani Group's airport operations. Adani Airport Holdings currently holds a controlling stake in Mumbai International Airport and Navi Mumbai International Airport, and operates six other airports in Ahmedabad, Jaipur, Lucknow, Thiruvananthapuram, Mangaluru, and Guwahati.
Next Story
3i Infotech Reports Rs 7.25 Bn Revenue for FY25
3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..
Next Story
Emerald Finance Joins Baya PTE to Boost SME Bill Discounting
Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..
Next Story
BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25
BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, 鈥淲e are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..
