Adani Defence and Aerospace has inked a definitive agreement to acquire Air Works, the aircraft Maintenance, Repair and Overhaul (MRO) organization, for an enterprise value of Rs 400 Crores.
Air works is the oldest MRO in India with a presence across 27 cities, 6 maintenance bays, and 900+ maintenance experts.
From the first P-8I aircraft Phase 32 checks to Phase 48 checks and MRO on the landing gear of the Indian Air Force’s 737 VVIP aircraft, Air Works undertakes base maintenance for ATR 42/72, A320 and B737 fleet of aircraft.
Currently, Air Works and Boeing are undertaking heavy maintenance checks on three P-8I long-range maritime patrol and anti-submarine warfare aircraft operated by the Indian Navy (IN).
According to industry reports, the Indian MRO market is expected to grow three times to USD 5 billion by 2030 from USD 1.7 billion at present.
