Press Release

Issued by Air Works.

October 3, 2018

India's Air Works has signed an agreement with Satys group in France to divest Air Livery, a subsidiary of Air Works providing after sale aircraft finishing operations out of UK. The completion requirements concluded on 1st October, 2018.

Under the transaction, Air Livery's entire UK operations and its assets will be transferred to Satys. Air Works will continue to provide aircraft finishing to OEMs and other customers out of its French subsidiary, Aero Technique Espace (ATE). Satys is a French industrial group with strong presence in aircraft sealing and painting in Europe and ROW.

D Anand Bhaskar, CEO, Air Works, said, "We will continue to focus, to grow our relationship and support to OEMs and lessors across the globe. With India emerging as one of the fastest growing aviation markets globally, the divestment is in sync with our decision to focus more on Indian operations and strengthen our market leadership here. Air Works believes that Satys has synergies and scale in aircraft painting that can further develop and nurture UK-based business."

Air Works is an Indian headquartered global aviation services provider, with a strong Indian presence in commercial and private aircraft MRO services. It has operations based out of France, Dubai, Ireland and USA, in aircraft finishing, aircraft management services, technical asset management services for lessors and safety rating in private jet and drone services.