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Jet 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. - Jet back in black with Rs 106 cr profit in Q3 - GHIAL signs three MoUs - Wipro to step up spread of Yardley’s contribution to revenue - Bhushan Steel-Essel set to acquire plot for Rs 1,530 Cr - SBI not eyeing acquisition of another bank: Bhatt - T Rowe acquires 26% in UTI AMC, UTI Trustee 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.

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