The Adani Group, which manages seven airports within the country, is trying to spend money on India’s largest impartial plane upkeep, restore and overhaul (MRO) organisation in a bid to boost its civil aviation portfolio.
The Adani Group is looking to invest in India’s largest independent aircraft maintenance, repair and overhaul (MRO) organisation. Adani Group has made a ₹462 crore non-binding offer to acquire Air Works, one of India’s oldest aircraft maintenance and repair companies.
A team from Adani’s defence and aerospace division has been leading the discussions for the Air Works acquisition. One of the sources cited earlier said the due diligence was “progressing well”.
Air Works was founded in 1951 by the family of Ravi Menon. The company has four major groups of shareholders-the Menon family, Punj Lloyd Aviation, GTI Capital and an employee welfare trust-which together own 100% of its shares.
Air Works holds certifications from aviation authorities of over 25 countries to maintain both narrow and wide-body aircraft at leading airports.
Having a pan-India presence across 19 international airports, Air Works Group is the largest provider of transit or line maintenance services to foreign passenger and cargo carriers operating in the country.
The Air Works Group is India’s largest independent aircraft maintenance, repair and overhaul (MRO) organisation. It has customers like IndiGo, Vistara and GoAir amongst other international airlines like Etihad, FlyDubai, Lufthansa, Turkish Atlantics and Virgin Atlantic.
Line maintenance work includes changing tyres, checking aircraft lights for their functioning, topping up engine oil, and charging hydraulic accumulators, among others.
The proposed take care of Air Works is according to the Adani Group’s plan to leverage options arising from the rising Indian civil aviation demand and the rising desire for MRO providers.
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