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April 19, 2015 12:19 AM ET

Aerospace and Defense

Company Overview of Air Works India (Engineering) Pvt Ltd

Company Overview

Air Works India (Engineering) Pvt Ltd. provides aviation maintenance, repair, and overhaul (MRO) services in India. It offers aircraft management, business and general aviation MRO, commercial aviation MRO, and avionics upgrade and retrofit services. The company also provides aircraft paint and refinishing services in the United Kingdom. In addition, it engages in parts distribution operations. The company was founded in 1951 and is headquartered in Gurgaon, India with a regional office in Mumbai, India. It has locations in Ahmedabad, Bengaluru, Chennai, Hosur, Jakkur, Madurai, New Delhi, and Pune, India; and Cambridge, Manchester, Southend, East Midlands, and Norwich, United Kingdom.

Kalyani House

Plot 40

Sector 18

Udyog Vihar

Gurgaon,  122001


Founded in 1951


91 22 2615 7703


91 22 2615 8956

Key Executives for Air Works India (Engineering) Pvt Ltd

Chief Executive Officer, Managing Director and Director
Age: 51
Chief Financial Officer
Executive Director
Senior Vice President of Airline MRO
President of Corporate Affairs
Compensation as of Fiscal Year 2014.

Air Works India (Engineering) Pvt Ltd Key Developments

Air Works India Seeks Acquisitions

Air Works India Engineering Private Limited is contemplating a rights issue from the existing investors to fund its growth and acquisition plans. Air Works has also been evaluating various acquisition opportunities to fuel the company's growth via inorganic expansion and has also identified targets in Technical Asset Management Services and Aircraft Data Management/Records Services space and is in the advanced stages of negotiating the deals.

Air Works India (Engineering) Pvt., Ltd. and Yaksa Investment Form Joint Venture (JV), Air Works Nepal

Air Works India (Engineering) Pvt. Ltd. and Yaksa Investment have formed a joint venture (JV), Air Works Nepal, to provide aviation maintenance services to international airlines and domestic operators from Tribhuvan International Airport, Kathmandu, Nepal. The JV is in line with Air Works India's strategy of overall expansion to start aviation engineering services' ventures in neighboring countries where availability and quality of MRO services is not up to international standards.

Air Works India Engineering Mulls Financing

Air Works India Engineering Private Limited is looking at raising another round of funding of about INR 1.5 billion, according to three people close to the development. “There is going to be a part primary (direct stake sale by the company) and part secondary (stake offloading by existing investors) stake sale,” said one of the three people. Air Works could also consider raising capital from both new and existing investors, said another person. All the three people asked not to be identified. The firm has asked JM Financial Institutional Securities Ltd, to advice it, according to Ravi S. Menon, Executive Director at Air Works. He added, "The existing shareholders may look at bringing some funds via a rights issue or other instruments. We are yet to finalize the mode of funding." New Enterprise Associates and GTI Group LLC own around 51.51% stake and Punj Lloyd Ltd. (BSE:532693) holds 19.58%. The Menon family, Vivek Gour and employee stock options together own 28.91% of the equity.

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