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Friday, Dec 06, 2019

GoAir plans to raise $80-100 mn to fuel expansion

The Wadia group-promoted budget airline, GoAir, is in talks with potential investors to raise around $80-100 million to help propel its future expansion.

business Updated: Jun 03, 2008 19:06 IST

PTI
Hindustantimes
         

The Wadia group-promoted budget airline, GoAir, is in talks with potential investors to raise around $0-100 million to help propel its future expansion.

"Talks are on for the past some months...However, it may take a little while before the promoters take the final call on the issue," a source close to the development told PTI in Mumbai.

Elaborating, the source said that that GoAir was only seeking additional investment and would not be hiving off stake to investors.

"The on-going negotiations are only for raising additonal funds. The company has no plans to sell or dilute its equity holding in any manner," he said.

Asked the identities of the parties with whom GoAir was in negotiations with, the source said that they comprised of both institutional investors as well as others.

The company was also in talks with some private equity players, the source said.

GoAir, had, in 2006, placed orders for 20-aircraft with Airbus and has taken delivery of four aircraft so far. It plans to take delivery of nine more aircraft in the next 18-month period.