JULY 7TH, 2015

Air Works Enters into Strategic Partnership with Acumen Aviation

New Delhi, India, July 07, 2015: Air Works, India’s leading aviation services company, today announced 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 United States. 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 better serve its existing customers and the burgeoning leasing industry in East and South East Asia.

This partnership fits Air Works’ strategy of making a push into technology enabled services for the broader aviation industry and working more closely with aircraft owners. While Air Works has already 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 Aviation has built a very credible business and provides significant value to its clients. The aircraft leasing industry continues to expand as more and more airlines focus on their operations and 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.

Acumen provides Asset management services including technical asset management (TAM) and data management (records management enabled through software) services to aircraft leasing companies and airlines globally (Europe, Asia the United States).

“The synergy potential will be ultimately realized over the longer term when we can cross-sell Acumen’s services to some of the 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 be centered around Ireland (Acumen’s headquarters), USA and China, where Acumen’s new office has been set up. Acumen will benefit from the experience of the management team of a well-diversified aviation services company as well as 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.