Skyways Air Services has issued an addendum to its IPO prospectus, offering crucial updates for investors.

The company's previously suspended Authorized Economic Operator-LO (AEO-LO) certificate, vital for its operations, has been fully restored.

This development addresses a key operational concern.

However, a writ petition has been filed against the company and its material subsidiary, Brace Port Logistics, linked to an FIR alleging criminal breach of trust.

The complainant claims over ₹44.20 Crore in direct losses from dealings with the company's subsidiaries.

Skyways clarifies that its subsidiaries had business totaling ₹59.48 Crore with the complainant and emphasizes its non-executive role in the subsidiary’s daily management.