Financial Daily from THE HINDU group of publications
Wednesday, Sep 28, 2005
Financial Daily from THE HINDU group of publications Wednesday, Sep 28, 2005 |
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Logistics
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Airlines Go Air may take off on Oct 30 Our Bureau
Mumbai , Sept. 27 GO Air, the airline company promoted by the Wadia group, plans to launch operations on October 30. The low-cost airline would initially offer services in the northern, western and southern regions, said Mr Jeh Wadia, Managing Director, Go Air. The airline would follow the SpiceJet model with a single type of aircraft, development of secondary routes, and low overhead costs. It hopes to build a fleet of 36 aircraft over three years. It would launch operations with one aircraft and expects to add an aircraft every four to six weeks, Mr Wadia said on the sidelines of a seminar on Open Skies 2005. Eventually, the airline hopes to acquire 50 aircraft. The acquisition would be financed through a combination of equity funding and financing options. Addressing presspersons at the seminar, Mr Vijay Mallya, Chairman and Managing Director, Kingfisher Airlines, said the airline would launch two new routes shortly.
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