Adani to buy plane maintenance co Air Works for Rs 400 crore

NEW DELHI: The

Adani

Group, that operates airports in seven cities, including Mumbai and is building a greenfield one at Navi Mumbai, is expanding its presence in the aviation space. It is acquiring India’s biggest private sector MRO (maintenance, repair & overhaul) player Air Works for an enterprise value of Rs

400

crore. Adani Defence Systems & Technologies has signed an agreement to

buy

85.8% stake in Air Works, which does line maintenance, heavy checks, among others for its Indian and global customers.