The Hindu Business Line : GoAir mulls funding options for growth plans

Addressing a press conference here on Monday, Mr Jeh Wadia, Managing Director, however, did not elaborate further on the issue. He only indicated that this could happen in a few months from now.

"We are not in real need. We are not in a hurry (to seek funds)," he said.

The airline, which runs 28 flights connecting 13 cities with a fleet of four aircraft, has a load factor of 78-82 per cent. It expects to break even this financial year.

Acquisition plans

The family-owned airline has chalked out aplan for acquiring 20 Airbus aircraft. The $1.6-billion deal was signed at the Singapore Airshow last month. Of these, 10 were confirmed and the remaining optional.

Mr Wadia said the airline would have eight aircraft by the year-end, 18 by the end of December 2007 and 33 a year later.

He said the company would like to have the Airbus-320 family as it gave them flexibility in utilising its manpower. Stating that there was a huge potential for low-cost air carrier business, he said the company targeted to commoditise air travel by winning over train passengers.

Speaking on the company's plans, Mr Wadia said it believed in consolidating its position in its `bases' and routes before moving on to the next base and route.

Hyderabad connectivity

The airline plans to expand its services from Hyderabad to Mumbai, Delhi, Kolkata and a few non-metros in the next couple of months.