GoAir advances by four months delivery of 10 aircraft

Mumbai: Aiming at expanding its operations, budget carrier GoAir has advanced the delivery of ten aircraft by four months and plans to fly to non-profitable routes in the Northeast, Andamans and Jammu and Kashmir.
The Wadia Group-owned company had placed orders for 20 Airbus A-320 planes worth USD 1.2 billion in 2006 with their deliveries staggered over two tranches.
While induction of the first tranche of 10 aircraft would be completed in September this year, the second tranche, slated to commence from January 2012, has been advanced by four months, sources familiar with the development said.
"We have now advanced these deliveries by four months rpt four months and will be receiving the first aircraft of the second tranche as early as in September 2011," the sources said. GoAir's current fleet strength is eight.
Acquisition of these aircraft would be done through internal accruals as well as by raising funds through sale and lease back. "We are planning to sale and lease back four aircraft which are due for delivery in 2011-12," they said.
08/07/10 PTI/Economic Times

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Categories: GoAir Jul 2010