Airwork Holdings Ltd
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Airwork Holdings Ltd - overview
Established
1936
Location
Auckland, -, New Zealand
Primary Industry
Aerospace
About
Airwork Holdings Ltd is a New Zealand-based company specializing in comprehensive aviation services, focusing on flight operations and maintenance support for fixed-wing aircraft, particularly Boeing 737. Founded in 1936 in Auckland, New Zealand, Airwork Holdings Ltd provides aviation services including engineering, maintenance, and operational management. The company has not indicated any significant pivots in business strategy or changes in operations. It operates without any known parent company and does not have subsidiaries.
Airwork was established as an independent entity and has a total of 2 deals recorded. Airwork specializes in providing comprehensive aviation services, focusing on flight operations and fixed-wing maintenance support. The company offers a full suite of turnkey aviation services, which includes engineering, heavy maintenance, and operational management for Boeing 737 aircraft. Their core products encompass the leasing, maintenance, upgrading, and support of fixed-wing aircraft, tailored to meet the specific needs of diverse clients.
Airwork serves a global clientele, including airlines and other aviation operators across various regions, thereby addressing operational efficiency and compliance demands in the aviation industry. The company has established a presence in multiple international markets, providing its services to operators in North America, Europe, Asia, and the Pacific. In 2022, Airwork reported a revenue of USD 116. 92 mn, while its EBITDA for the same year was USD -106.
01 mn. The company’s revenue generation is primarily driven by B2B transactions, wherein it engages directly with aviation operators and businesses for its services. The business model often involves contractual agreements for maintenance services, leasing arrangements, and operational support, allowing clients to benefit from Airwork’s specialized capabilities. Client partnerships and long-term service agreements further contribute to a stable revenue base, facilitating ongoing operational relationships within the industry.
Looking ahead, In May 2026, ASL Aviation Holdings DAC, a portfolio company of STAR Capital, acquired Airwork Holdings Ltd. Financial terms were not disclosed.
Current Investors
ASL Aviation Holdings DAC
Primary Industry
Aerospace
Sub Industries
Engineering, Aerospace, Freight Transportation Services
Website
www.airworkgroup.com
Company Stage
Add-on
Total Amount Raised
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Airwork Holdings Ltd - timeline of key events
Airwork Holdings Ltd - financials
| Fiscal Year Ended | Jun 30, 2004 | Jun 30, 2005 | Jun 30, 2006 | Jun 30, 2007 | Jun 30, 2008 | Jun 30, 2009 | Jun 30, 2010 | Jun 30, 2011 | Jun 30, 2012 | Jun 30, 2013 | Jun 30, 2014 | Jun 30, 2015 | Jun 30, 2016 | Jun 30, 2017 | Jun 30, 2018 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 67,202,000 | 82,458,000 | 74,358,000 | - | - | - | - | - | - | - | 125,365,000 | 144,932,000 | 165,983,000 | 168,361,000 | 152,137,000 | 87,887,000 | 199,922,000 | - | - | - |
| % Revenue Growth (YoY) | - | 22.7% | (9.8%) | - | - | - | - | - | - | - | - | 15.6% | 14.5% | 1.4% | (9.6%) | - | - | - | - | - |
| EBITDA (USD) | 14,118,000 | 15,582,000 | 15,507,000 | - | - | - | - | - | - | - | 38,998,000 | 48,304,000 | 69,019,000 | 74,930,000 | 67,547,000 | 43,587,000 | 88,934,000 | - | - | - |
| Operating Income (USD) | 6,783,000 | 7,008,000 | 8,683,000 | - | - | - | - | - | - | - | 19,172,000 | 24,752,000 | 37,292,000 | 39,677,000 | 31,538,000 | 22,169,000 | 46,597,000 | - | - | - |
| Operating Margin | 10.1% | 8.5% | 11.7% | - | - | - | - | - | - | - | 15.3% | 17.1% | 22.5% | 23.6% | 20.7% | 25.2% | 23.3% | - | - | - |
| % EBITDA Margin | 21.0% | 18.9% | 20.9% | - | - | - | - | - | - | - | 31.1% | 33.3% | 41.6% | 44.5% | 44.4% | 49.6% | 44.5% | - | - | - |
| NET Income (USD) | 3,197,000 | 2,479,000 | 5,839,000 | - | - | - | - | - | - | - | 9,828,000 | 15,549,000 | 24,604,000 | 24,766,000 | 14,727,000 | 13,257,000 | 26,441,000 | - | - | - |
| % Net Margin | 4.8% | 3.0% | 7.9% | - | - | - | - | - | - | - | 7.8% | 10.7% | 14.8% | 14.7% | 9.7% | 15.1% | 13.2% | - | - | - |
Airwork Holdings Ltd - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Add-on | Completed | Airwork Holdings Ltd | - | ||||||||
| Buyout | Completed | Airwork Holdings Ltd | - | ||||||||
| Unspecified Exit | Completed | Airwork Holdings Ltd | - |
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Airwork Holdings Ltd - employee data
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