Jet Airways To Pick 26% In GMR’s MRO JV
January 27th, 2010 | 
Author: MAS GMR Aerospace Engineering Company is a JV between Malaysian Aerospace Engineering and GMR.
The board of Jet Airways has approved an investment of up to 26% in MAS GMR Aerospace Engineering Company Pvt Ltd, which is into aircraft maintenance, repair and overhaul (MRO) activities.
The investment by Jet Airways will be made by way of cash and other non-cash considerations, the company said, in its filing with the BSE. The value of the transaction was not disclosed.
MAS GMR Aerospace Engineering Company is a 50 : 50 joint venture between Malaysian Aerospace Engineering SDN BHD, Malaysia, and GMR Hyderabad International Airport, set up to undertake MRO activities.
The deal is subject to statutory and regulatory approvals.
Source: Indiaprwire
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