15-Oct-2026 21:32:14
SKYWAYS : APPROVES RS 7 CR UAE STEP-DOWN UNIT, RS 11 CR VIETNAM GUARANTEE
• Board approved disinvestment of 40% stake in wholly owned subsidiary Avito Global Freight Private Limited to its Core Operating Team for ₹92.12 L • After the transfer, Avito will cease to be wholly owned but remain a subsidiary; Skyways will retain 60% of paid-up equity capital • Board approved Skyways and Avito Core Operating Team to invest up to ₹2 Cr in Avito in one or more tranches • Avito to incorporate a wholly owned subsidiary in Masdar City Free Zone, Abu Dhabi, UAE, making it a step-down subsidiary of Skyways • Subscription cost for the UAE entity up to ₹7 Cr in one or more tranches; Avito will hold 100% shareholding • Board approved corporate guarantee to Techombank for Skyways SLS Logistik Company Limited (Vietnam) up to VND 30,000,000,000 (~₹11 Cr) for a bank guarantee to IATA
Skyways Air Services Ltd
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