Drabu Joins Air Works As An Independent Director

30 Aug 2020

GURUGRAM, 30th August 2020: Air Works - India’s largest, independent MRO and well-diversified aviation services provider today announced the appointment of Dr. Haseeb A. Drabu as an Independent Director on the Board of the Company. The appointment will be subject to the receipt of all requisite government and regulatory approvals, including security clearance.

Dr. Haseeb A. Drabu is a noted economist and policy maker. He has been an advisor to several institutions and corporates on issues such as macro and monetary policy, banking and finance operations, fund management, corporate investment, and governance advisory. He has worked as a lawmaker and a policy planner and in his most recent engagement until March 2018, he was the Finance Minister of the State of Jammu & Kashmir (now a Union Territory). As a member of the GST council, his contributions have been widely acknowledged.

Dr. Drabu has also been the Chairman and Chief Executive of the J&K Bank Ltd. (2005 – 2010). Under his leadership, the bank achieved a record performance – a five-fold increase in net profit (from INR 1 billion to over INR 5 billion) and an NPA reduction by five times (from 2.5% to 0.5%). Prior to this, Dr. Drabu was involved with economics and policy making in India with the Tenth Finance Commission, Economic Advisory Council of the Prime Minister and the Planning Commission of India. A respected columnist, he has been writing on economic issues for over the last three decades.

Commenting on his appointment, Dr. Haseeb A. Drabu said, “I see Air Works, as a model enterprise, not only for the Indian aviation ecosystem of which it is a quintessential part, but for business in general. The company has had a rich legacy, and a richer brand equity build on performance and values. As such, notwithstanding the ongoing circumstances, it is uniquely positioned to be the key player in making India an MRO hub. I am keen to engage with other members of the Board and the Air Works’ management to help realize their collective vision and ambition.”

Dr. Drabu’s induction will help in strengthening the Air Works Board which currently comprises five members including, the recently inducted Lt. Gen. A K Singh (Retd.)

Welcoming his appointment to the Air Works’ Board, Mr. D Anand Bhaskar, MD & CEO Air Works said, “Dr. Drabu’s addition to the Air Works’ Board is extremely well-timed. His deep understanding and experience in the areas of policy, planning, banking and economics will have an invaluable bearing on Air Works’ overall business strategy and destiny, in light of the unprecedented fluctuation in the economic scenario and the current state of Indian aviation due to Covid-19. Despite having a resilient DNA, we look forward to leverage his rich experience and further strengthen Air Works, embracing both emerging and best practices in corporate governance in order to reinvent our business in sync with the new, emerging normal.”

Earlier this year, on 16th April, Air Works achieved a significant milestone in the history of Indian aviation by completing 70 Years of maintenance operations. Today, Air Works is India’s largest provider of Line maintenance services to global airlines and is certified to maintain as many as 55+ types of aircraft, making it also the most diversified MRO in the country with a pan-India network of 27 locations and 1300+ employees, serving both civil (fixed wing + rotary wing) and military customers including global OEMs, commercial airlines, Business Aviation companies/ operators, and leading global Lessors.

Reputed for its excellent workmanship and attention to details, Air Works is highly trusted by the aviation industry for its reliability and has executed and delivered several industry and country-first projects in the field of aviation maintenance including structural works, avionics as well as design.

About Air Works Group

Established in 1951, Air Works Group is India’s biggest and highly diversified independent MRO with the largest pan India network presence across 27 cities. It is the preferred MRO partner to global aviation OEMs, aircraft owners/operators (including Fixed Wing & Rotary Wing), lessors, airlines and the Indian Defence Services, offering a host of services including MRO and heavy checks, Line maintenance, Cabin and Interior refurbishment, Exterior finishing and painting, Avionics upgrades, integrations and retrofits, End-of-lease/ redelivery checks, Maintenance training (CAR 147), and Asset Management services to domestic and international clients. Specialized set of services for Avionics, Component repairs and Asset Management services are offered via the Group’s partner companies – SA Air Works and Acumen Aviation.

Air Works undertakes base maintenance for ATR 42/72, A320 and B737 fleet of aircraft from its EASA and DGCA-certified facilities at Mumbai, Delhi, Hosur and Kochi, supported by duly certified in-house shops for related tasks. The Company also undertakes modification and assembly of rotary-wing aircraft and is an Authorized Service Centre (ASC) for Bell and Leonardo helicopters.

Air Works enjoy an impeccable reputation in the industry for proven capabilities, outstanding workmanship, quality, and an exceptional safety orientation. The Company takes immense pride in its 70 Year aviation legacy and a culture that accords paramount importance to customers, which has allowed it to successfully deliver several India first and industry-first projects.

For more details, visit: https://www.airworks.aero