GoAir in talks with FIs to raise $100 mn to buy planes

Wadia group-promoted budget air-carrier GoAir is in the process of raising around $100 million to fund its aircraft acquisition programme, airline sources said today.

The airline is currently in talks with financial institutions and a deal is expected to be arrived at over the next two-three months, they said.

GoAir, which currently has 10 Airbus A-320s in its fleet, plans to take delivery of another 10 aircraft over the next three years.

“We are negotiating with some banks and financial institutions to raise around $100 million (around Rs 400-500 crore), both in India and abroad,” the sources close to the development said.