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GMR Hyderabad International Airport divests stake in flight training arm

APFTAL, engaged in the business of providing flight training, had reported a turnover of Rs 4.72 crore for the nine month period ended December 31, 2018

Press Trust of India  |  New Delhi 

GMR, Hyderabad International Airport
Hyderabad International Airport | Photo: Wikipedia

Monday said its subsidiary Ltd (GHIAL) has fully divested its stake in its flight training arm to a third party for a token consideration.

The company did not disclose what that token consideration was.

"GHIAL...has divested its 100 per cent stake in its subsidiary namely Asia Pacific Flight Training Academy Ltd (APFTAL) to a third party, for a token consideration," said in a regulatory filing.

APFTAL, engaged in the business of providing flight training, had reported a turnover of Rs 4.72 crore for the nine month period ended December 31, 2018.

"Consequent to the above divestment, APFTAL has ceased to be a subsidiary of GHIAL and thereby also of GIL," the company added.

First Published: Mon, March 04 2019. 11:00 IST
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