Hyderabad: Malaysia Airlines (MAS) is exiting its joint-venture with GMR Group, with the later expected to fully buy over the aircraft maintenance repair and overhaul (MRO) unit near Hyderabad International Airport, the Press Trust of India reported today.
GMR Group may buy out the entire 50% stake in MAS GMR Aerospace Engineering Co Ltd now held by Malaysian Aerospace Engineering Sdn Bhd (MAE), which is fully owned by MAS, the report said.
“The decision to acquire the stake came after the Malaysian partner expressed inability to infuse more funds into the loss making MRO facility, sources said.
“MAE has informed that its parent company Malaysia Airlines has been incurring losses for the past few years. The losses have been further aggravated by the mysterious disappearance of flight MH370, the sources said.”
24/07/14 Therakyat Post
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GMR Group may buy out the entire 50% stake in MAS GMR Aerospace Engineering Co Ltd now held by Malaysian Aerospace Engineering Sdn Bhd (MAE), which is fully owned by MAS, the report said.
“The decision to acquire the stake came after the Malaysian partner expressed inability to infuse more funds into the loss making MRO facility, sources said.
“MAE has informed that its parent company Malaysia Airlines has been incurring losses for the past few years. The losses have been further aggravated by the mysterious disappearance of flight MH370, the sources said.”
24/07/14 Therakyat Post
