NEW DELHI, July 7, 2015 /PRNewswire/ --
Enters Commercial Aircraft Asset Management Business
Air Works, India's leading aviation services company, announces a strategic partnership with Acumen Aviation Europe through a minority investment. With this partnership, Air Works enters the large and growing aircraft asset management business, building greater presence in Europe, Asia and the US. This partnership will focus on providing customers a single source for best-in-class aviation services.
Acumen is an Aircraft Asset Management Services company with operations in Ireland and India, offering technology-enabled solutions, such as technical asset management and records management, to achieve long-term economic returns on assets. Acumen recently opened its regional office in China to serve existing customers and the burgeoning leasing industry in East and South East Asia.
This partnership fits Air Works' strategy of pushing into technology-enabled services for the broader aviation industry and working closely with aircraft owners. While Air Works has been providing critical repossession and redelivery services to global leasing firms, the partnership with Acumen will enable a stronger foothold in asset management and provide significant cross-selling opportunities for both organizations.
"Acumen has built a credible business and provides significant value to its clients. The aircraft leasing industry continues to expand as airlines move to an asset light model of using leased aircraft - we are highly optimistic about Acumen's long-term growth prospects," said Mr. Vivek Gour, Managing Director, Air Works.
"The complementary nature of our individual business' expertise will improve our service delivery model, thus enhancing the customer experience while achieving business objectives," said Mr. Alok Anand, Chairman, Acumen Aviation.
"The synergy potential will be ultimately realized over the longer term when we can cross-sell Acumen's services to other businesses that Air Works is intending to build organically as well as inorganically," Mr. Gour adds.
In this new arrangement, Bangalore will continue to be a hub for delivery and software development while business development and technical management activities will center around Ireland headquarters, USA and China. Acumen will benefit from the experienced Air Works' management team and access to Air Works' network of clients and partnerships.
"Acumen will continue to operate independently but will benefit from Air Works' experience in scaling up through aggressive Business Development and M&A, an industry leading Information Technology team and its strong focus on financial management and compliance," added Mr. Alok Anand.
SOURCE Air Works