Small BusinessJet to buy 26% stake in JV with Malaysian Airlines
The Board of Directors of Jet Airways has given its in-principle approval to acquire 26 per cent stake in MAS GMR Aerospace Engineering Company for an unspecified amount.
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The Hyderabad-based MAS GMR Aerospace is a joint venture between Malaysian Airlines" engineering arm and the GMR group engaged in setting up a Maintenance, Repair and Overhaul (MRO) facility.
The 26 per cent stake in MAS GMR will be acquired partly in cash and partly for consideration other than cash, Jet Airways said in a communication to the Bombay Stock Exchange today.
The transaction is subject to regulatory approvals, the company said.