Adani completes acquisition of Air Works India Engineering

** Adani Enterprises announced today that its wholly-owned subsidiary, Adani Defence Systems and Technologies Limited (ADSTL), has completed the acquisition of an 85.1% stake in Air Works India (Engineering) Pvt. Ltd (AWIEPL), effective July 1, 2025. This acquisition, initially announced on December 23, 2024, aligns with Adani's strategic objective to expand its presence in the aircraft services and Maintenance, Repair, and Overhaul (MRO) industry. Air Works, established in 1951, is India's largest privately-owned aviation services and MRO company, with a FY24 turnover of INR 356 Cr. The enterprise value of the acquisition is INR 400 Cr. As a result of this transaction, AWIEPL has become a step-down subsidiary of Adani Enterprises. The company’s announcement confirms that this acquisition does not involve any related party transactions. Air Works is a preferred MRO partner for OEMs, aircraft owners/operators, lessors, and airlines in India and internationally.