Aequs, Based in Karnataka, Secures Airbus Contract for Aircraft Component Supply

Karnataka-based Aequs has clinched a significant contract from Airbus, the world's largest aircraft manufacturer, to supply crucial components for wings and fuselage. While the exact value of the deal remains undisclosed, the contract underscores India's increasing role as a global aerospace manufacturing hub and reinforces Airbus' commitment to its Make in India initiative.

The contract signing took place at Belagavi, Karnataka, and involved Gunnar Hansen, Head of Strategic Procurement, Detail Parts, Airbus Aerostructures; Nils Witt, Chief Procurement Officer, Airbus Aerostructures; and Mohamed Bouzidi, President Aerospace, Aequs.

Under the agreement, Aequs will manufacture components for wings, fuselage, and pylons for Airbus' A320, A330neo, and A350 aircraft over a span of 10 years.

Aravind Melligeri, Chairman and CEO of Aequs, expressed pride in standing alongside the world's largest aircraft maker as a long-term strategic partner. He remarked, "It is also a testimony to the confidence in Aequs by global OEMs [original equipment manufacturers] to enter into a deeper and longer relationship, particularly at a time when the global supply chain is passing through a recalibration."

Aequs has been a trusted supplier to Airbus, serving as its first OEM customer. The company, with a diverse portfolio of global aerospace clients, holds the status of a Preferred Detailed Parts Partner (D2P) for Airbus for well over a decade.

Airbus, recognizing Aequs' vision to establish an aerospace ecosystem in India, has acknowledged the unique value proposition offered by the Aequs Aerospace SEZ at Belagavi.

In a significant development, Aequs raised $54 million (Rs 448 crore) in a recent equity funding round led by Singapore-based Amansa Capital. This funding round included contributions from five new investors, including Steadview Capital, Catamaran (the family office of Infosys founder N R Narayana Murthy), Sparta Group LLC, and other individual investors. This funding follows a previous round of Rs 225 crore in April 2023 led by Amicus Capital, which also participated in the current round through its affiliates.

BS