Adani Group to acquire India's largest private-sector MRO company Air Works

Adani Defence Systems & Technologies Ltd. (ADSTL) has signed a share purchase agreement to acquire an 85.8% stake in Air Works India (Engineering) Pvt. Ltd., the country’s largest private sector maintenance, repair, and overhaul (MRO) company, for an enterprise value of Rs 400 crore.

Major MRO Expansion

Air Works offers an end-to-end bouquet of aviation services spanning line maintenance, heavy checks, interior refurbishment, painting, redelivery checks, avionics as well as asset management services to its Indian and global customers.

The company undertakes base maintenance for narrow-body and turboprop aircraft, as well as rotary aircraft from its facilities at Hosur, Mumbai, and Kochi and with regulatory approvals from civil aviation authorities of more than 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 the Indian Navy and Indian Air Force.

Strengthening India’s aviation sector

“The Indian aviation industry stands at a transformative juncture, now the third largest globally and on track to induct over 1,500 aircraft in the coming years,” said Jeet Adani, director of Adani Airports. He added that the government’s push to improve air connectivity presents major opportunities in aviation services.

“This acquisition reflects our commitment to developing an integrated aviation services ecosystem that supports India’s aviation infrastructure. Together, we aim to play a key role in shaping the future of India’s skies,” Adani said.

This landmark acquisition represents a pivotal step in Adani Defence & Aerospace’s mission to strengthen India’s MRO capabilities,” said Ashish Rajvanshi, CEO, Adani Defence & Aerospace.

“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. In a time when Aatmanirbharta in defence is a national imperative, we stand fully committed to scaling domestic capabilities to serve both our armed forces and the broader aviation sector. This is our pledge to the nation—to build capabilities that secure our skies and strengthen our sovereignty," Rajvanshi added.

Adani Defence & Aerospace, part of the Adani Group, focuses on designing, developing, and manufacturing advanced defence products.