Adani Group Acquires 85.8% Stake in Air Works for Rs 400 Crore Enterprise Value

The Adani Group has announced the acquisition of an 85.8% stake in Air Works, India’s largest private-sector Maintenance, Repair, and Overhaul (MRO) company, at an enterprise value of Rs 400 crore. This move solidifies Adani’s position in the defence and civil aviation MRO sectors, marking a strategic expansion into an integrated aviation services ecosystem. With operations spanning 35 cities, over 1,300 personnel, and approvals from aviation authorities in 20+ countries, Air Works brings expertise in both civil and defence MRO services.

Key Highlights

Largest Private MRO Acquisition

Air Works provides comprehensive services, including line maintenance, heavy checks, interior refurbishment, avionics, and asset management, serving both Indian and global clients. It has established capabilities in base maintenance for narrow-body and turboprop aircraft and rotary aircraft at facilities in Hosur, Mumbai, and Kochi.

Strengthening Defence Capabilities

The company has a proven track record in defence MRO, executing projects for the Indian Navy and Indian Air Force. Adani Defence & Aerospace CEO Ashish Rajvanshi emphasized the acquisition’s role in scaling domestic MRO capabilities under India’s Aatmanirbhar Bharat initiative in defence.

Industry Context and Future Vision

India, the world’s third-largest aviation market, is poised to induct over 1,500 aircraft in the near future. Jeet Adani, Director of Adani Airports, highlighted the government’s vision to connect the nation, making this acquisition a strategic step toward developing aviation infrastructure. Adani Defence aims to deliver end-to-end MRO solutions for both commercial and defence aviation sectors, bolstering India’s aviation ecosystem and sovereignty.

Strategic Implications

This acquisition aligns with Adani Group’s vision to build a full-spectrum MRO ecosystem, integrating civil and defence aviation services. It complements the group’s ongoing investments in aerospace design, development, and manufacturing, ensuring India’s aviation capabilities remain globally competitive and self-reliant.

Summary of the news