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While examining proposals, clear that management will remain with group

PICK AND CHOOSE: Mr Jeh Wadia (left), Managing Director, GoAir; and Mr V. Thulasidas, Chairman and Managing Director of Air India and President of Aeronautical Society of India, at an international aviation seminar on `MRO in India - Present and Future', in New Delhi on Friday. Mr Wadia said Go Air has received proposals from high net worth individuals and foreign institutional investors wanting to pick up a stake in the airline. — S. Subramanium

New Delhi May 25 GoAir, the low-cost airline promoted by the Wadia group, has received proposals from high networth individuals and foreign institutional investors wanting to pick up a stake in the airline, the Managing Director, Mr Jeh Wadia, said.

"While we are not offloading any stake, several HNI, FII and also strategic investors, some of whom have experience in the aviation sector, have shown an interest in the airline. The various offers are for picking up between 26 and 45 per cent stake. Even as the proposals are being examined, we are clear that the management of the airline will remain with the Wadia group," he added.

Mr Wadia, however, declined to speculate on either how much could be raised from such a move or the names and number of individuals interested in the airline.

New projects

Earlier, addressing a seminar on `MRO in India — Present and future', organised by the Aeronautical Society of India, Mr Wadia said the airline hopes to start two new projects — Go Cargo and Go Ground — in the next six-to-seven months.

While Go Cargo would provide cargo related services, Go Ground would provide ground handling services.

Besides, the airline's tie-up with Singapore Airline Engineering Company, for the Maintenance Repair and Overhaul (MRO) of the aircraft, would become functional by July this year. It would initially offer services in 13 domestic cities, he said.

"The decision to invest in these support services was probably a good one as this would help reduce our costs," Mr Wadia said.

Air India MRO

Addressing the seminar, the Chairman and Managing Director, Air India, Mr V. Thulasidas, said that the airline would invite another partner for the MRO project being set up jointly with Boeing in Nagpur.

"We have also started work for a facility in Thiruvananthapuram to look after maintenance of the Boeing 737-800 aircraft while another facility is planned in Delhi for the wide-body aircraft," Mr Thulasidas said.

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