Adani Group to acquire 85.5% share in Air Works

Adani Group to Acquire 85.5% Stake in Air Works: Expansion in Aviation

Adani Group has recently acquired a private MRO company, Air Works. The management has signed an agreement that allows them 85.8% of shares in Air Works by a whopping amount of Rs. 400 crore. Interestingly, Adani Enterprises Limited let the stock market know this news. Air Works had a humble beginning in a small way near Mumbai Airport, India, in 1951 and now runs in 35 centers all over India with more than 1,300 employees. It serves both Indian and global clients, providing broad aviation services ranging from aircraft painting to works in aircraft’s interior.

The company also holds regulatory authorization in over 20 countries, which in turn further strengthens its position as a competent company in the sector. The Indian Navy’s P-8I aircraft and the Indian Air Force’s 737 VVIP fleet are being supported with defense facilities by it, which in turn is also strengthening our country’s policy of Atmanirbhar Bharat. The CEO, considering the strategic significance, believes that this deal will help to deliver services in sectors such as commercial and defense. Purchasing such a massive share marks a significant milestone for Adanis, as it has become an important player in India’s aviation and defense sectors. Under them, India’s aviation sector is gearing up for a massive transformation, with plans to induct over 1,500 aircraft by various airlines. It is hoped the recent acquisitions by Adani Group will benefit Air Works and Adani Defense as their capabilities will be integrated for a better future.