GMR Group in sale discussions with Airbus

The GMR Group is in discussion with Airbus for a potential sale of a stake in its MRO facility in Hyderabad. A deal will help GMR raise cash as a part of its “asset light” strategy and enable Airbus to fulfill its commitment of developing an MRO in India. GMR launched its MRO in 2012, as a joint venture with Malaysian Aerospace Engineering (part of Malaysia Airlines) with an investment of 300 crore rupees. Initially, Jet Airways was to be become a partner in the project but it backed out. Last month GMR said it was acquiring its partner MAS’s