The Adani Group announced acquisition of Air Works, India's largest private aviation maintenance, repair, and overhaul (MRO) services company on December 23 for an enterprise value of Rs. 400 crore (approximately $4.70 billion). The deal, finalized through Adani Defence Systems & Technologies Ltd (ADSTL), includes a substantial 85.8% shareholding in Air Works, further cementing Adani Group's ambitions to enhance its footprint in India’s aerospace and defence sectors.

Air Works, established as a leader in aviation MRO, has a vast presence across India and has operations spanning 35 cities and a workforce of over 1,300 skilled personnel. The company specializes in providing end-to-end services for both fixed-wing and rotary-wing aircraft. These services include line maintenance, heavy checks, interior refurbishments, avionics, and asset management, among others. Its facilities in India’s Hosur, Mumbai, and Kochi are equipped with regulatory approvals from over 20 countries, underscoring its credibility in the international aviation sector.

The acquisition is seen as a strategic move by Adani Defence, a subsidiary of Adani Enterprises, as part of its broader vision to bolster India's MRO capabilities, particularly in the defence aviation sector. This deal is expected to contribute significantly to India's growing defence and aerospace infrastructure, which aligns with the government's ‘Aatmanirbharta’ or self-reliance initiative.

ADSTL has taken a crucial step by securing a controlling stake in Air Works. The move marks a major shift in the aviation services landscape, as it strengthens Adani's position in the rapidly growing Indian aviation market. The country, now the third-largest aviation market globally, is on track to induct more than 1,500 new aircraft in the coming years, according to industry projections. As the aviation sector expands, the need for robust MRO services to support this growth is becoming increasingly critical.

Jeet Adani, Director of Adani Airports, emphasized the transformative nature of India’s aviation industry. “This growth aligns seamlessly with the Government’s vision to connect every corner of our nation, creating unprecedented opportunities in aviation services,” he said. He further noted that the acquisition of Air Works reflects Adani's commitment to building a comprehensive aviation services ecosystem, which will fortify India's aviation infrastructure and play a pivotal role in shaping the future of the country’s skies.

The acquisition also serves as a pivotal step in enhancing Adani Defence & Aerospace’s capabilities in the MRO sector. Ashish Rajvanshi, CEO of Adani Defence & Aerospace, remarked, "This landmark acquisition represents a pivotal step in Adani Defence & Aerospace’s mission to strengthen India’s MRO capabilities. Our vision is to deliver a full-spectrum MRO offering—spanning line, base, component, and engine maintenance—to meet the needs of both commercial and defence aviation sectors." He added that this deal is part of Adani’s broader strategy to provide critical services to India’s armed forces, ensuring the nation’s air defence infrastructure remains strong and self-sufficient.