Wednesday, May 29, 2024

Adani Defence Systems & Technologies Set To Pay Rs 400 Cr To Acquire Air Works

By Staff Correspondent

Adani Defence Systems & Technologies said it had signed a definitive agreement to acquire Air Works for ₹400 crores. The Adani group-backed company revealed in its exchange filing that it is set to gain ownership of the nation’s biggest and highly diversified independent Maintenance, Repair, and Overhaul (MRO) service provider. Air Works, which is the oldest MRO in India, has the most extensive pan-India network spread across six maintenance bays, 27 cities, and over 900 maintenance experts.

The company has extensive experience and provides a wide range of services. Air Works has developed capabilities to perform the first P-8I aircraft Phase 32 checks to Phase 48 checks, MRO on the landing gear of the Indian Air Force’s 737 VVIP aircraft, base maintenance for ATR 42/72, A320, and B737 fleet of aircraft from its EASA and DGCA-certified facilities. These facilities are located in Mumbai, Delhi, Kochi and Hosur.

At its Hosur facility, the service provider is working with Boeing to complete heavy maintenance checks on three of the Indian Navy’s P-8I long-range maritime patrol and anti-submarine warfare aircraft.

Ashish Rajvanshi, CEO of Adani Defence & Aerospace, stated that with India’s current growth trajectory, paired with the Indian government’s emphasis on connecting the nation through a massive mesh of air networks, the growth of the country’s airline and airport sector is inevitable.

It is due to this reason that the company sees the MRO sector as playing an essential role in the defence as well as the civilian aerospace sector.

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