The Hindu Business Line : No immediate plans to dilute equity in GoAir: Jeh

, The low cost airline promoted by the Wadia family, GoAir, has no immediate plans of diluting its equity, the airline Managing Director, Mr Jeh Wadia, said here on Friday.

"We are not in a hurry to go for equity or debt financing. The airline is run by the Wadia family and not the Group and we are happy funding it ourselves," Mr Wadia, said.

The airline has joined hands with Singapore Airline Engineering Company to form a joint venture not only to carry out maintenance, repair and overhaul (MRO) services in the country but also provide line maintenance and heavy maintenance for both Airbus A-320 and Boeing B-737 aircraft in seven cities by next month.

"Besides, we are also looking at greenfield heavy maintenance facility for aircraft made by both Boeing and Airbus. The MRO should be operational by mid-2007," he added.

Meanwhile, the airline has started regular flights from Delhi to Goa, Bangalore and Pune on Friday. At present the airline is operating three times a week between Delhi and Goa and Delhi and Bangalore, while offering a four times a week connection with Pune.

"The flights will become a daily service by October this year. Besides, we have also launched services between Mumbai and Chennai and Mumbai and Hyderabad from today," Mr Wadia added.

The airline, which currently has a fleet of four Airbus A-320 aircraft, plans to increase the fleet strength to seven by November this year. "We are looking to have a fleet strength of 18 aircraft by December next year which would increase to 33 aircraft by the end of the following year," said Mr Wadia.