Air Works joins hands with UAE firm for aircraft management
New Delhi: Flying at will from the remotest places to destinations in India and abroad will no longer be a tough task for corporates, as Air Works -- an aviation service provider company, has joined hands with a UAE-based firm to provide aircraft management services in the country.
"Air Works has made a strategic investment in Dubai-based Empire Aviation Group (EAG), a private aviation specialist, to provide support to form Empire Aviation India -- a firm that would not only take care of proper and optimum utilisation of business jets owned by an individual or a company but also provide AMS to the corporates," Vivek N Gour, Managing Director, Air Works said.
"We are going to launch this product in August and we would be the first company to bring such a product to India," he added.
The company would operate with generally underutilised business jets belonging to individuals and companies.
Also, the maintenance of aircraft and people related to maintenance and operations like engineers, flight instructors and pilots, makes keeping an aircraft a costly affair, Gour said.
"We would be utilising them and provide the necessary maintenance and other operational support," he said, adding there are around 120 such aircraft in the country and in the first two years we would be aiming to take about 20-24 on board.
Air Works has made an investment of Rs 120 crore in the EAG through a mix of internal accruals and structured debt finance from KKR and Co LLP, a US-based global investment firm.
The company would focus on business jets only and set up a Command office in Bangalore and liaison offices in Delhi and Mumbai. Later it would expand to other metros.
"We would be providing end-to-end service to the customer with all the necessary backroom preparation done by us," said Steve Hartley, co-founder and Executive Director of EAG.