Adani Defence Systems & Technologies Ltd. (ADSTL) has signed a definitive agreement to acquire an 85.8% stake in the aircraft maintenance company, Air Works India for an enterprise value of ₹400 crore. The acquisition marks a significant development in India’s Maintenance, Repair, and Overhaul (MRO) sector, bringing one of the country’s largest private players under the Adani umbrella.
Air Works, a key player in the aviation services sector, operates across 35 cities in India and employs more than 1,300 personnel. The company provides a broad range of services, including line maintenance, heavy checks, and avionics work for fixed-wing and rotary aircraft. It also handles base maintenance for narrow-body and turboprop aircraft at its facilities in Hosur, Mumbai, and Kochi, with certifications from over 20 international civil aviation authorities.
In addition to its commercial aviation services, Air Works has developed expertise in defence MRO, undertaking projects for aircraft used by the Indian Navy and Air Force. The acquisition by Adani Defence is seen as an effort to consolidate and expand its presence in both commercial and defence aviation sectors.
Jeet Adani, Director at Adani Airports, highlighted the growing importance of the aviation sector in India, stating, “The country is on the path 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 aligns with ongoing efforts to bolster domestic capabilities in the defence sector under the government’s Aatmanirbhar Bharat initiative. Ashish Rajvanshi, CEO of Adani Defence & Aerospace, noted that the acquisition would allow Adani to expand its offerings 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 India’s aviation industry for decades, offering services to domestic and international customers. With this acquisition, Adani Defence aims to integrate Air Works’ expertise into its broader strategy to develop a comprehensive aviation services ecosystem.
About Adani Defence & Aerospace
Adani Defence & Aerospace, a subsidiary of the Adani Group, focuses on developing products and solutions for India’s defence sector. Its activities include partnerships with start-ups and MSMEs, fostering innovation, and contributing to the country’s self-reliance in defence manufacturing.
This acquisition comes at a time when India’s aviation sector is witnessing significant growth, creating opportunities for expansion in maintenance and repair services to support the increasing fleet size and connectivity demands.