Wadia group-owned no-frills airline GoAir on Monday announced that its managing director Jeh Wadia has stepped down from the position. The airline, however, said that Wadia will continue as a promoter. It also announced the appointment of aviation industry veteran Ben Baldanza as vice chairman at the carrier. Baldanza has been an advisor to the company since 2018 and director since 2019.
The selection gives a boost to the US engine firm, which lost out to rival manufacturer CFM International for IndiGo's 280 aircraft engine order in June.
The market buzz is that the GoAir promoters are hoping for a valuation that is at least a little more than double its closest rival SpiceJet.
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