AI Engineering Services will hire 1,000 people in coming months: CEO Sharad Agarwal

AI Engineering Services, a state-owned enterprise, is gearing up to enhance and upgrade its capabilities by bringing on board an additional 1,000 employees. This move aims to bolster the company's workforce to a total of 6,000 employees in the near future, as disclosed by a senior company executive.

AI Engineering Services Ltd (AIESL) is a prominent player in the maintenance, repair, and overhaul (MRO) sector and has consistently recorded an average annual revenue of approximately Rs 2,000 crore over the past three years. The company is actively seeking additional funds to expand its operational capabilities, with the government planning to divest its stake in the organisation.

Currently, AIESL maintains a workforce of approximately 5,000 individuals.

Commitment to support aviation growth 

Sharad Agarwal, the CEO of AIESL, expressed the company's commitment to supporting the growth of aviation in India by initiating the recruitment process for an additional 1,000 personnel in the coming months. He stated, "We are aware that we need to expand our capabilities to include new aircraft and engine types, which would require a capital infusion."

India is witnessing one of the most rapid growth rates in the aviation industry globally, with domestic carriers having around 1,600 planes on order. As air traffic continues to rise and airlines expand their fleets, the demand for MRO services is expected to surge.

AIESL offers a comprehensive range of services, including base and line maintenance as well as the overhaul of landing gear, avionics accessories, and components, among others, according to its website.

Following the disinvestment of Air India last year, AIESL is now under the ownership of AI Assets Holding Ltd.

Annual revenue 

Agarwal noted that AIESL has consistently generated annual revenues of approximately Rs 2,000 crore over the past three years. The company also possesses hangar facilities capable of accommodating 30 aircraft, including 10 wide-body planes. However, Agarwal cautioned that hangar rental costs are likely to see significant increases in the coming years.

Agarwal shared these insights during an aerospace conference held in Gwalior, organised by the Confederation of Indian Industry (CII) and the Ministry of Civil Aviation.

In AIESL's annual report for 2021–22, it was revealed that the company is planning to boost revenue generation by offering its existing capabilities to third parties through aggressive marketing and acquiring new capabilities.

(With PTI Inputs)