Skyline Air ceases to be Blue Dart's subsidiary

MUMBAI: Domestic courier and logistics company, Blue Dart Express Ltd on Friday said Skyline Air Logistics Ltd has ceased to be a subsidiary of the company.

The company informed the Bombay Stock Exchange that Skyline Air ceased to be its subsidiary with effect from August 10.

Shares of Blue Dart closed up 0.76 per cent at Rs 569.10 on the BSE on Friday.

Recently the company had announced plans for delisting its shares from the bourses after its promoter DHL Express (Singapore) Pte Ltd, which holds 81.03 per cent stake in Blue Dart, offered to buy out its balance publicly held shares at a price of upto Rs 550 per share.