Budget carrier Go Air is also looking at raising finances to stay afloat. “ Like all other airlines we are also in need of fresh funding. The sector is not doing well due to rising oil prices and we are in discussion with prospective investors,” said Go Airlines managing Director Jeh Wadia.
With two of the three budget carriers in need of immediate funding, the low-cost airline segment seems to be on a shaky ground. However, the other budget carrier IndiGo is steadily growing with adequate funding being provided by its original promoters said airline officials.