Jet gets board nod to buy into MAS GMR Aero

MUMBAI: Jet Airways (India) Ltd said on Monday its board has given an in-principle approval to take a stake of up to 26 percent in Hyderabad-based MAS GMR Aerospace Engineering Company Pvt Ltd.

MAS GMR Aerospace is an equal joint venture between Malaysian Aerospace Engineering SDN BHD and GMR Hyderabad International Airport Ltd, set up to undertake airframe maintenance, repair and overhaul activities, the airline said in a statement to the BSE.