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JJG Aero Raises $30M Series B to Expand Bengaluru Manufacturing

JJG Aero secures $30 million Series B funding led by Norwest to expand manufacturing capacity and vertical integration in Bengaluru.

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This article is based on an official press release from JJG Aero.

JJG Aero Secures $30 Million in Series B Funding to Expand Manufacturing Capabilities

Bengaluru-based aerospace manufacturing firm JJG Aero has successfully raised $30 million (approximately ₹250 Crore) in a Series B funding round led by Norwest Venture Partners. This investment marks a significant milestone for the company, bringing its total capital raised to $42 million following a $12 million Series A round led by CX Partners in April 2024.

According to the company’s press release, the fresh capital will be utilized to expand manufacturing capacity, specifically through the establishment of a new facility in North Bengaluru. The funding round also represents Norwest Venture Partners’ first foray into the Indian aerospace manufacturing sector, signaling growing investor confidence in India’s potential as a global hub for high-precision aerospace components.

Strategic Expansion and Vertical Integration

JJG Aero plans to deploy the newly raised funds primarily toward a ₹500 Crore capacity expansion plan. A central component of this strategy is the construction of a new 200,000-square-foot manufacturing plant located on a 10-acre site near the Bengaluru airport. The company expects this facility to be fully operational by mid-to-late 2027.

In addition to increasing physical space, the company intends to deepen its vertical integration. By bringing more “special processes”, such as electroplating, anodizing, painting, and Non-Destructive Testing (NDT), in-house, JJG Aero aims to reduce reliance on external vendors. This shift is designed to improve quality control and accelerate delivery timelines for its global client base, which includes major OEMs and Tier-1 suppliers like Boeing, Collins Aerospace, Safran, and GE Aerospace.

Anuj Jhunjhunwala, CEO of JJG Aero, highlighted the market dynamics driving this expansion in a statement included in the release:

“The aerospace supply chain is facing an all-time high demand from aircraft manufacturers, which legacy vendors in the Western world are struggling to meet. With our strengths… we see ourselves as a key player for precision-machined components in the aerospace ecosystem.”

Financial Performance and Future Targets

Founded in 2008, JJG Aero has established itself as a manufacturer of high-precision machined components for commercial aircraft engines and systems. The company reports a Compound Annual Growth Rate (CAGR) of 35% over the last three years. For the current fiscal year, JJG Aero projects revenue of approximately ₹240 Crore, with the aerospace segment contributing roughly ₹160 Crore.

Looking ahead, the company has set ambitious financial targets. Management aims to reach ₹500 Crore in revenue by the 2028-29 fiscal year and ₹1,000 Crore by FY32-33. The company is reportedly profitable, a status that likely contributed to its ability to secure significant venture capital in a competitive market.

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Shiv Chaudhary, Managing Director at Norwest Venture Partners, explained the firm’s investment thesis:

“With strong industry tailwinds, we believe that aero-parts and component manufacturing is emerging as an important segment in India’s manufacturing outsourcing story. This investment will enable JJG Aero not only to continue its growth trajectory through capacity addition but also to upgrade the quality of earnings by focusing on higher value-added components.”

AirPro News Analysis: The “China+1” Opportunity

The investment in JJG Aero underscores a broader shift in the global aerospace supply chain known as the “China+1” strategy. As Western OEMs seek to de-risk their operations and reduce dependence on Chinese manufacturing, India is increasingly viewed as a viable alternative for high-quality, cost-effective production. The sector is currently growing at approximately 10% annually in India.

Furthermore, recent policy changes may provide additional tailwinds for manufacturers like JJG Aero. The Union Budget 2026-27 proposed the removal of basic customs duties on components required for aircraft manufacturing. This policy adjustment is expected to lower input costs for Indian manufacturers, enhancing their competitiveness on the global stage against established players and emerging domestic competitors such as Jeh Aerospace and Aequs.

By securing this capital now, JJG Aero positions itself to capitalize on the supply constraints currently hampering Western legacy vendors, potentially capturing a larger share of the outsourcing market as global aircraft production rates ramp up.

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Photo Credit: JJG

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MRO & Manufacturing

FL Technics Acquires Job Air Technic Expanding Central European MRO Capacity

FL Technics completes acquisition of Job Air Technic, adding a facility in Ostrava with 8 maintenance bays and 400 specialists to boost aircraft maintenance services.

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This article is based on an official press release from FL Technics and additional industry data.

FL Technics Finalizes Acquisition of Job Air Technic, Expanding Central European Footprint

FL Technics, a global provider of aircraft maintenance, repair, and overhaul (MRO) services and a subsidiary of Avia Solutions Group, has officially completed its acquisitions of Job Air Technic. The transaction, which was initially announced last year, brings the Czech-based MRO specialist into FL Technics’ international network following the fulfillment of all closing conditions.

The acquisition represents a strategic expansion for FL Technics, designed to bolster its presence in Central Europe. By integrating Job Air Technic’s established operations, FL Technics aims to increase its capacity to service narrow-body and wide-body aircraft immediately, bypassing the lengthy timelines typically associated with constructing new maintenance facilities.

Operational Expansion and Capacity

According to company statements, Job Air Technic will continue its day-to-day operations while gradually integrating into the broader FL Technics organizational framework. The focus of the integration is on sharing technical expertise and aligning processes to create operational synergies.

Data regarding the acquisition indicates that the deal secures significant infrastructure for the group. Job Air Technic operates a facility at Leoš Janáček Airport Ostrava (OSR) in the Czech Republic. Industry specifications for the site list approximately 17,000 square meters of hangar space, comprising two hangars with eight maintenance bays capable of servicing Airbus A320, Boeing 737, and Airbus A330 aircraft. The acquisition also brings a workforce of approximately 400 specialists into the FL Technics fold.

Zilvinas Lapinskas, CEO of FL Technics, emphasized the strategic value of acquiring an active facility rather than building from scratch.

“We are pleased to complete this acquisition and officially welcome Job Air to the FL Technics Group. Job Air brings strong maintenance expertise and an established operation that fits well with how we are expanding our network in Europe. It strengthens our presence in Central Europe and provides additional maintenance capacity in a location that is increasingly important for our customers.”

Zilvinas Lapinskas, CEO of FL Technics

Strategic Rationale and Market Context

The consolidation of MRO services is a growing trend in the aviation industry, driven by the need for scale and efficiency. Imrich Czere, CEO of Job Air Technic, noted that joining a global group offers new development opportunities in a shifting market.

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“The MRO sector is currently undergoing significant consolidation, and becoming part of a global group represents strong potential and new opportunities for our continued development.”

Imrich Czere, CEO of Job Air Technic

FL Technics has stated that the combined teams will focus on ensuring customers benefit from the added scale and flexibility. The Ostrava location serves as a geographic hub, complementing existing heavy maintenance bases in Lithuania, the United Kingdom, and Indonesia. This “plug-and-play” approach allows the company to respond immediately to long-term demand for high-quality aircraft maintenance services.

AirPro News Analysis

The Race for MRO Slots
The acquisition of Job Air Technic highlights a critical pressure point in the current aviation market: the scarcity of maintenance slots. With manufacturers like Boeing and Airbus facing delivery delays, airlines are extending the operational lives of older aircraft. This has triggered a surge in demand for “heavy maintenance” (C and D checks), creating a bottleneck at MRO facilities globally.

By acquiring an existing, certified facility with eight bays, FL Technics avoids the multi-year lead time required for construction and certification. This move positions them to capture immediate revenue from airlines desperate for slot availability. Furthermore, as a subsidiary of Avia Solutions Group, the world’s largest ACMI provider, FL Technics can now more efficiently service the group’s own massive fleet while competing aggressively with regional rivals like Czech Airlines Technics and larger players like Lufthansa Technik.

Frequently Asked Questions

What is the status of Job Air Technic’s current operations?
Job Air Technic will continue its operations without interruption. The company will undergo a gradual integration into FL Technics’ framework to align processes and share expertise.

Where is the new facility located?
The acquired facility is located at Leoš Janáček Airport Ostrava (OSR) in the Czech Republic.

What aircraft types can the new facility service?
The facility is equipped to service both narrow-body aircraft (such as the Airbus A320 and Boeing 737 families) and wide-body aircraft (such as the Airbus A330).

Who is the parent company of FL Technics?
FL Technics is a subsidiary of Avia Solutions Group, a Dublin-based aviation holding company.

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Photo Credit: FL Technics

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Joramco Expands Central Asia Presence with Uzbekistan Maintenance Deals

Joramco signs heavy maintenance contracts with Air Samarkand and FLYONE Asia, supporting Uzbekistan’s growing aviation market.

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This article is based on an official press release from Joramco.

Joramco Secures Strategic Maintenance Contracts with Air Samarkand and FLYONE Asia

Joramco, the Amman-based maintenance, repair, and overhaul (MRO) provider and engineering arm of Dubai Aerospace Enterprise (DAE), has officially announced its expansion into the Central Asian market. During the MRO Middle East 2026 exhibition in Dubai, the company revealed two significant maintenance agreements with Uzbekistan-based carriers: Air Samarkand and FLYONE Asia.

According to the company’s press release, these new partnerships will see Joramco performing heavy maintenance checks on the Airbus A320 fleets for both airlines. The agreements mark a pivotal step in Joramco’s strategy to capture market share in the rapidly growing Central Asian aviation sector, specifically capitalizing on the liberalization and fleet expansion currently underway in Uzbekistan.

Details of the Maintenance Agreements

The contracts, finalized on February 5, 2026, focus on ensuring the operational reliability of narrowbody fleets for two of Uzbekistan’s emerging carriers. Joramco will provide heavy maintenance services at its facility at Queen Alia International Airport in Amman, Jordan. This facility, which recently expanded with the opening of “Hangar 7,” is certified by major international regulators including EASA and the FAA.

Fraser Currie, Chief Strategy & Commercial Officer at DAE Engineering, emphasized the strategic importance of these deals in a statement provided by the company.

“These partnerships reflect Joramco’s growing role in supporting emerging aviation markets and demonstrate confidence in our narrowbody capabilities.”

, Fraser Currie, Chief Strategy & Commercial Officer, DAE Engineering

The scope of work specifically targets the Airbus A320 family, which has become the workhorse for low-cost and regional carriers in the Central Asian region. By securing these contracts, Joramco reinforces its position as a leading independent MRO provider capable of supporting startup airlines that require high-quality maintenance without investing in their own heavy infrastructure.

Profiles of the New Partners

The agreements involve two distinct players in the Uzbekistan aviation market, both of which are expanding their international footprints.

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Air Samarkand

Based at Samarkand International Airport (SKD), Air Samarkand is a relatively new entrant, having launched operations in late 2023. The airline operates a mixed fleet of Airbus A330 and A320 aircraft and is part of a broader initiative to establish Samarkand as a major tourism and business hub. According to industry reports, the airline plans to expand its route network significantly into Europe and Asia throughout 2026.

FLYONE Asia

FLYONE Asia is a dedicated low-cost carrier (LCC) based at Tashkent International Airport (TAS). Established in July 2025 following the rebranding of Asia Union Airlines, it operates as an affiliate of the FLYONE Group, which also includes carriers in Moldova and Armenia. The airline is scheduled to launch regular international flights starting in April 2026, serving destinations in Russia, Azerbaijan, Latvia, and Israel.

Market Context: The “Uzbekistan Boom”

These partnerships arrive during a period of aggressive growth for Uzbekistan’s aviation sector. The government’s “Uzbekistan 2030” strategy has set ambitious targets, aiming to increase the national fleet to 180 aircraft and boost annual passenger traffic to 24 million. This is a significant jump from approximately 15 million passengers in 2025.

Recent reforms, including the removal of monopolies and the introduction of “Open Skies” policies at regional airports, have spurred the creation of private airlines such as Air Samarkand and FLYONE Asia. These carriers require reliable MRO partners to maintain airworthiness as they scale up operations to meet government targets.

AirPro News Analysis

The Strategic “Middle Ground” Advantage

Joramco’s success in securing these contracts highlights a geographic and strategic advantage. Amman serves as an ideal “middle ground” for Central Asian carriers. It offers a closer, high-quality alternative to MRO facilities in Western Europe or Southeast Asia, reducing ferry flight times and operational downtime.

Furthermore, the trend of outsourcing heavy maintenance is accelerating among startup airlines. New carriers like Air Samarkand and FLYONE Asia typically prioritize capital expenditure on fleet growth and route expansion rather than building expensive maintenance hangars. As an independent MRO not owned by a rival airline group, Joramco presents a neutral and attractive partner for these emerging airlines. With the Middle East MRO market projected to grow at a CAGR of approximately 4.8% through 2031, we expect to see more Central Asian carriers looking westward to Jordan for their heavy maintenance needs.

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Photo Credit: Joramco

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Chorus Aviation Acquires Kadex Aero Supply in $50M Deal

Chorus Aviation to acquire Kadex Aero Supply for CAD 50 million, expanding its aviation parts distribution and services network in Canada.

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This article is based on an official press release from Chorus Aviation Inc. and additional financial reporting.

Chorus Aviation to Acquire Kadex Aero Supply in $50 Million Deal

Chorus Aviation Inc. (TSX: CHR) has announced a definitive agreement to acquire Kadex Aero Supply Ltd., a prominent Canadian independent distributor of aircraft parts and maintenance services. The transaction, valued at approximately CAD $50 million, marks a significant step in Chorus Aviation’s strategic pivot toward an “asset-light” business model focused on high-margin aviation services.

According to the company’s announcement on February 12, 2026, the acquisitions is expected to close in the second quarter of 2026, subject to customary closing conditions. The deal was made public alongside Chorus’s fourth-quarter 2025 financial results, which highlighted a return to profitability and a 38% increase in dividends.

Transaction Details and Financial Impact

The agreement outlines a total purchase price of approximately $50 million. Chorus Aviation stated that the payment structure includes an upfront cash component of $43 million to be paid at closing. The remaining balance will be paid as contingent consideration over a two-year period, subject to Kadex achieving specific performance targets.

Chorus Aviation confirmed that the transaction will be funded entirely through existing cash on hand, requiring no new external financing. Management expects the acquisition to be immediately accretive to both earnings and free cash flow.

Strategic Rationale

This acquisition is designed to bolster Chorus Aviation’s subsidiary, Voyageur Aviation, which specializes in parts provisioning and engineering. By integrating Kadex, Chorus aims to create a “one-stop-shop” for aviation customers, combining Voyageur’s existing capabilities with Kadex’s extensive distribution network.

Key strategic benefits cited in the announcement include:

  • Expansion of Aftermarket Services: Strengthening the parts distribution network to serve a broader client base.
  • Synergies with Used Serviceable Materials (USM): Kadex’s distribution channels will complement Chorus’s USM business, which sells parts from dismantled aircraft.
  • Recurring Revenue: The parts distribution sector typically offers higher margins and more consistent cash flow compared to traditional airline operations.

Profile: Kadex Aero Supply

Founded in 1994 by John Lavery and Ken Blow, Kadex Aero Supply is headquartered in Peterborough, Ontario, with additional facilities in Calgary, Alberta. The company operates as an independent distributor for over 70 Original Equipment Manufacturers (OEMs), including brands such as Champion Aerospace and Whelen Aerospace Technologies.

According to financial-results data released regarding the deal, Kadex generated approximately $60 million in revenue in 2025. The company employs approximately 50 staff members. The founders, Lavery and Blow, are expected to remain with the company to oversee operations under Chorus Aviation’s ownership.

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AirPro News Analysis

The acquisition of Kadex Aero Supply underscores a broader trend in the aviation industry where holding companies are diversifying away from capital-intensive assets like aircraft leasing. By focusing on the Maintenance, Repair, and Overhaul (MRO) sector, Chorus Aviation is reducing its exposure to the volatility of passenger travel demand.

Global supply-chain constraints have forced airlines to operate older aircraft for longer periods, significantly increasing the demand for aftermarket parts. In our view, acquiring an established distributor like Kadex allows Chorus to capitalize on this “aging fleet” dynamic immediately, without the long lead times associated with building new supply chain infrastructure.

Frequently Asked Questions

When is the deal expected to close?

The transaction is expected to close in the second quarter of 2026.

How is Chorus Aviation paying for the acquisition?

The $50 million purchase price will be funded entirely through Chorus Aviation’s existing cash on hand.

Will the leadership at Kadex change?

Founders John Lavery and Ken Blow are expected to remain with the company to drive continued growth post-acquisition.

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What is the financial outlook for Chorus Aviation?

Alongside this acquisition, Chorus reported a full-year net income of $78.7 million for 2025 and announced a share buyback program, signaling a focus on returning capital to shareholders.

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Photo Credit: Chorus Aviation

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