Skyways Air Services has received approval for proposal to disinvest 40% of the company’s existing shareholding in its wholly owned subsidiary, Avito Global Freight, by transferring the equity shares to Core Operating Team of Avito Global Freight, for a total consideration of Rs 92.12 lakh.
The aforesaid dilution in its wholly owned subsidiary is a part of strategic expansion of the company by way of transferring the shares to the Core Operating Team. Upon completion of the proposed transaction, Avito Global Freight will cease to be a wholly owned subsidiary of the Company but will continue to remain a subsidiary, with the company retaining 60% of its paid-up equity share capital. The Board of Directors of the company, at its meeting held on October 15, 2026, has considered and approved the same.
Skyways Air Services is a long-standing participant of India’s air freight forwarding and logistics sector. It is actively engaged in providing a comprehensive suite of services, including air freight forwarding, ocean freight forwarding, trucking, warehousing, custom broking, technology driven express cargo and parcel delivery and a wide range of Value-Added Services (VAS) to support the diverse needs of its clientele across domestic and international markets.
