Indian maintenance provider Air Works Engineering has acquired an 85% stake in Air Livery, a UK-based aircraft refinisher.
Air Livery operates paint shops at Norwich, Manchester, East Midlands and Southend airports. It also conducts interior repairs and refurbishment.
As part of the deal with Mumbai-based Air Works, Air Livery is to construct a dedicated paint hangar at Hosur Airport near Bangalore, southern India. Air Works and Air Livery had previously planned a joint venture to pursue this project.
The hangar will have capacity to handle the painting of two narrowbody aircraft simultaneously or of a single aircraft up to the size of a Boeing 777 or Airbus A340. It is due to be operational by the end of 2010.
"This acquisition is a very significant step for Air Works in its strategy to become a complete solution provider for MRO services in India and its surrounding region," says Suresh Soni, Air Works' executive director.
Air Livery will function as an independent business unit within the Indian company, which intends to retain the management team led by managing director Julian Duffen.