Adani Group to acquire MRO services firm Air Works for enterprise value of ₹400 crore

Adani Group on Monday announced its plan to acquire maintenance, repair, and overhaul (MRO) company Air Works for an enterprise value of ₹400 crore.

"Adani Defence Systems & Technologies Ltd. (ADSTL) has signed a share purchase agreement to acquire 85.8% shareholding in Air Works, India’s largest private sector MRO company with the largest pan-India footprint," the ports-to-power conglomerate said in a statement.

The acquisition enhances Adani's capabilities in the defence MRO sector, solidifying its position in India's airborne defence ecosystem.

Air Works, which operates across 35 cities with a workforce of over 1,300 personnel, provides comprehensive aviation services, including line maintenance, heavy checks, interior refurbishment, and avionics upgrades.

The company also offers base maintenance for narrow-body, turboprop, and rotary-wing aircraft from its facilities in Hosur, Mumbai, and Kochi, and with regulatory approvals from civil aviation authorities in over 20 countries.

In addition to being a market leader in civil aviation, Air Works has built significant capabilities in defence MRO, executing projects for key platforms of Indian Navy and Indian Air Force.

Commenting on the acquisition plan, Jeet Adani, Director, Adani Airports, said, “The Indian aviation industry stands at a transformative juncture, now the third largest globally and on track to induct over 1,500 aircrafts in the coming years.”

"For us, creating a presence in the MRO sector is more than just a strategic step—it’s a commitment to building an integrated aviation services ecosystem that strengthens the backbone of India’s aviation infrastructure."

Ashish Rajvanshi, CEO, Adani Defence & Aerospace, termed the acquisition a "a pivotal step" in the company's "mission to strengthen India’s MRO capabilities."