GMR Hyderabad International Airport Ltd (GHIAL), a subsidiary of GMR Infrastructure Ltd, has divested its 100 per cent stake in Asia Pacific Flight Training Academy Ltd (APFTAL), a subsidiary, to a third party, for a token consideration.
APFTAL is engaged in the business of providing flight training. As per the latest unaudited financial statements for the nine-month period ended December 31, 2018, APFTAL had a turnover of Rs. 4.72 crore and accumulated losses of Rs. 11.37 crore.
Consequent to the above divestment, APFTAL has ceased to be a subsidiary of GHIAL and thereby also of GIL.
