Airwork Holdings will be partially taken over by China's Zheijang Rifa (RIFA) after 94.7% of shareholders accepted its offer. RIFA offered NZD5.40 per ordinary share for a 75% stake at a total of NZD203 million (USD140.5 million). As the offer was over-subscribed, the acceptances will be scaled. The New Zealand Exchange has said that as all conditions have been met, RIFA must pay out to shareholders within seven days.

Airwork is a cargo, MRO, and passenger charter specialist whose operating units entail Airwork NZ (Auckland International), Heli Holdings Ltd, Airwork Flight Operations (AWK, Auckland International), and Inflite Charters (Auckland International).

RIFA has previously stated that it plans to develop Airwork's MRO business and capabilities into other emerging markets, including Asia and Latin America. In addition, it will also grow Airwork's helicopter leasing presence in China through the potential dispatch of existing Airwork helicopters to the region and the acquisition of new helicopters.

RIFA operates a diverse range of businesses across the manufacturing, general aviation, livestock, equestrian, and financial investment sectors. It owns and operates Air Xiya (Beijing Capital), which specialises in agricultural, scenic and public service flights, and plans to expand its fleet to thirty helicopters and fixed-wing aircraft.