Jeh Wadia denies reports of GoAir sellout

Jeh Wadia, managing director of GoAir, was holidaying in Australia earlier this month, when news first broke that his airline was being bought out. He says he was rudely woken up one morning by a “call from his ‘Ol’ Man’’, who wanted to know if they were indeed selling the business.
He assured the senior Wadia that there was no such move. He followed up with categorical statements stating that he was not selling out. Despite his protestations, hysteria over mergers and acquisitions in aviation over the past weeks has grown to a crescendo. In a freewheeling interview with Economic Times, Mr Wadia elaborated on his plans for GoAir and the impact of consolidation in the airspace.
Three major consolidations in the four months have changed the complexion of the Indian airline industry, but any more acquisitions would be stupid, he says. It is much cheaper to grow organically than to acquire an existing airline. It doesn’t make sense to pay to inherit someone else’s losses.
21/06/07 Times Now.tv

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Categories: GoAir Jun 2007