A $70 million joint-venture maintenance, repair and overhaul facility recently completed at the Hyderabad International Airport will be operational in November. MAS-GMR Aerospace Engineering is a joint venture of Malaysian Aerospace Engineering Sdn. Bhd, a subsidiary of Malaysian Airline System (MAS), and GMR Hyderabad International Airport Ltd., a subsidiary of GMR infrastructure Ltd. in India.

India may soon allow foreign carriers to take an equity stake in domestic airlines to help the sagging aviation industry in the country. The Department of Industrial Policy & Promotion (DIPP), the nodal agency on Foreign Direct Investment policy, has presented a proposal to the government to let foreign airlines invest in the country.

India’s GVK Airport Holdings Pvt. Ltd., a unit of GVK Power & Infrastructure Ltd., has acquired 108 million shares in Mumbai International Airport Pvt. Ltd. from Bid Services Division (Mauritius) Ltd. The shares, amounting to a 13.50% stake in the airport, were acquired for $231 million, the company said on Oct. 18. With the purchase, GVK now holds 50.50% in Mumbai International Airport.