New Delhi: Indian budget carrier GoAir is in talks to sell a stake to a
non-Indian airline to raise funds for its expansion plans as it joins
other carriers seeking to take advantage of liberalized investment rules
in the South Asian nation.
"We are working on a strategic partnership with a foreign airline. We are open to giving equity," Giorgio De Roni chief executive officer of Go Airlines (India) Ltd. told The Wall Street Journal Tuesday.
Airlines in India are joining forces with non-Indian carriers after the government relaxed norms in 2012 to let foreign airlines to own up to 49% stakes in Indian aviation companies.
Jet Airways (India) Ltd. last year sold a 24% stake to Etihad Airways of Abu Dhabi. Malaysia's AirAsia 5099.KU -1.30% Bhd last month launched a new airline in India with the Tata Group and another local partner.
Mr. De Roni said the management of GoAir will forward its recommendations to the airline's owner, the Wadia Group.
Read news in full 08/07/14 Santanu Choudhury/Wall Street Journal
"We are working on a strategic partnership with a foreign airline. We are open to giving equity," Giorgio De Roni chief executive officer of Go Airlines (India) Ltd. told The Wall Street Journal Tuesday.
Airlines in India are joining forces with non-Indian carriers after the government relaxed norms in 2012 to let foreign airlines to own up to 49% stakes in Indian aviation companies.
Jet Airways (India) Ltd. last year sold a 24% stake to Etihad Airways of Abu Dhabi. Malaysia's AirAsia 5099.KU -1.30% Bhd last month launched a new airline in India with the Tata Group and another local partner.
Mr. De Roni said the management of GoAir will forward its recommendations to the airline's owner, the Wadia Group.
Read news in full 08/07/14 Santanu Choudhury/Wall Street Journal
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