Wadia Family `Vetting' Proposals to Sell GoAir Stake

India's Wadia family is evaluating proposals to sell a stake in Go Airlines (India) Pvt., a low- fare carrier.
``We are still vetting these proposals, we have not made a decision,'' Jeh Wadia, the Mumbai-based airline's managing director, said at a news conference in New Delhi today, without providing details. The family may sell ``potentially up to 26 percent. It depends on many terms and many conditions.''
Indian low-fare carriers are seeking alliances or merging to reduce costs. Jet Airways (India) Ltd., the nation's biggest airline, bought Sahara Airlines Ltd. in April in the country's largest aviation takeover. Deccan Aviation Ltd., India's biggest budget airline, plans to join with Kingfisher Airlines Ltd. Two state-owned carriers have also combined.
``We are not in a hurry to choose a partner,'' said Wadia. ``Once as shareholders we have created value for us first, then only will we take it to public shareholders and other private shareholders. We want to demonstrate we have created value.''
04/10/07 Subramaniam Sharma/Bloomberg

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Categories: GoAir Oct 2007