Low-cost flier Go Airlines (India) is not interested in selling its equity stake to foreign capital just for accessing funds. It is also not interested in aggressive growth in market share, emphasising instead on sustainability, its chief executive officer Giorgio De Roni has asserted.
In response to a question on the Kingfisher episode and whether the Wadia group carrier is interested in taking up some of the slots vacated by Kingfisher Airlines, Mr Roni told The Hindu : “We will grow step by step... our approach is to grow cautiously.. we are running a marathon and not a sprint.”
He said that the company was pursuing its plans of launching international flights and was hopeful of getting some waivers from the Centre on certain stipulations.
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To questions on the whether the group was scouting for foreign capital for its aviation company, following the opening up of the sector, he said: “We are open if we find a suitable partner ... but we are not willing to sell stake to a foreign partner just to access funds. We would choose a partner evaluating them in terms of best practices and their ability to improve our technicals.” He noted that many foreign carriers were keen to enter India. Elaborating on the company’s plans on its international foray, Mr Roni said that this was likely to happen in 2013-14, and the game plan was to be innovative in selection of the destination.
Afghanistan was among the options that were being explored as were destinations in China, South East Asia, West Asia and Sri Lanka.
The flier had a 7.6 per cent domestic market share, which is likely to touch double-digit by next fiscal and double (from 7.6) in a few years, Mr Roni said.
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He was here in connection with the launch of flights to Ahmedabad, Bagdora and Guwahati. Between 2016 and 2020, the airline will get 72 more planes (A 320), which will be fitted with engines which will help GoAir’s fuel bill, estimated at Rs. 1,000 crore annually now.