The Adani Group, which operates 7 major airports in the country, is now planning to invest in India’s largest aircraft maintenance, repair and overhaul (MRO Services) company. Through this, Adani Group’s endeavor is to further strengthen its Civil Aviation Portfolio. Sources told ‘The Sunday Express’ that the Adani Group is exploring a deal with shareholders to buy a stake in Air Works Group, a 71-year-old Mumbai-based airline.
Air Works Service serves aircraft from Indian airlines such as Indigo, GoAir and Vistara as well as other foreign airlines Lufthansa, Turkish Airlines, Flydubai, Etihad and Virgin Atlantic. Along with this, the name of the Indian Navy is also included in the list of customers of the company. Earlier this month, the company had tied up with aircraft maker Boeing for maintenance of three P-81 long-range maritime patrol aircraft of the Indian Navy.
Air Works Group’s business is spread over 27 cities in India. At present more than 50 companies are working in this sector. It also includes the names of government companies AI Engineering Services and GMR Technics.
Adani Group currently operates seven airports in the country. These airports include the country’s second largest Mumbai, including Ahmedabad, Lucknow, Thiruvananthapuram, Jaipur, Guwahati and Mangaluru. The company is currently providing MRO service at many airports in the country in association with Mumbai based company Indmar Aviation Pvt Ltd.
Another source told ‘The Indian Express’ that the proposed deal of the Adani Group is to take advantage of the opportunities created by the rapid growth of the civil aviation market in the country and the increasing demand for MRO services. is for.”
Adani Group is rapidly expanding its footprint in all its sectors in the country. On Friday, Adani Defense had bought a 50 per cent stake in Bengaluru-based drone maker General Aeronautics. The company’s business is spread from power, cement, drone, food, mine, port to airport. According to the Bloomberg Billionaires Index, Gautam Adani’s net worth is around $102 billion, which makes him the seventh richest person in the world.