GoAir reluctant to respond to overtures.
Its losses widened to Rs. 39.8 crore in the first quarter of 2011-12 from Rs. 30.49 crore in the corresponding period of 2010-11.
With this order for 72 A-320 NEO (New Engine Option) planes worth $7.2 billion, GoAir has a total order book of 92 aircraft worth Rs 43,200 crore ($9.6 billion).
Around four months ago, GoAir had returned two aircraft to lessors as a part of its "dynamic fleet strategy" that involved inducting more aircraft in the peak season and letting go in the lean season.
The Wadia-group promoted private carrier GoAir's Chief Executive Officer (CEO) Edgardo Badiali, is believed to have has resigned from his post.
GoAir has recorded 73% growth in its passenger traffic so far this fiscal.
The Wadia group-promoted budget airline, GoAir, is in talks with potential investors to raise around $80-100 million to help propel its future expansion.
Bollywood actress Preity Zinta has submitted four photographs to Mumbai police showing bruises on her hand to back her claim of criminal assault against her ex-boyfriend Ness Wadia even as the industrialist shared with investigators the contact details of witnesses he wants examined, police said on Wednesday.
Budget carrier Go Airlines, which has rebranded itself as 'Go First', has filed preliminary papers for an initial share sale worth Rs 3,600 crore.
The Wadia group-promoted low-cost carrier GoAir will launch its commercial flights from November 4, 2005 and would operate in the Mumbai, Goa, Ahmedabad and Coimbatore routes.
Wadia Group-owned Go First Airways' (Go First) insolvency plea could trigger a 'momentum rally' in shares of rival airlines, Interglobe Aviation (parent company of IndiGo) and SpiceJet, as they look to gain bankrupt airline's market share, said analysts. On the bourses, shares of InterGlobe Aviation hit a 52-week high of Rs 2,235.95, surging 8 per cent on the BSE in Wednesday's intra-day trade, before settling 4.5 per cent higher at Rs 2,164 apiece. Those of SpiceJet and Jet Airways, meanwhile, rallied up to 6 per cent in the intra-day trade, and ended 1 per cent and 5 per cent higher, respectively, following the development, which was announced post market hours on Tuesday.
It is GoAir's endeavour to provide the best fares and most convenient flight options to its customers who are always on the lookout for new and affordable alternatives, its chief executive Giorgio De Roni said.
Both Jet Airways and Go First have met with a similar fate of landing up in insolvency, albeit for different reasons. Whether Go First will be able to avoid the sharp erosion in value like in the case of Jet, experts say, will depend on how quickly it is able to restart operations and retain its slots at airports. Go First, owned by the Wadia group, filed for voluntary corporate insolvency resolution on May 2 due to inadequate capacity utilisation that led to a cash crunch.
Domestic air traffic grew by over 14 per cent in September, with 11 Indian carriers together flying a total of 66.66 lakh passengers during the month.
While about 8,000 people are in the long list of invitees, the select list features 506 A-listers, including prominent politicians, leading industrialists, top film stars, sportspersons, diplomats, judges and high priests.
Delhi, Mumbai, Bengaluru, Ahmedabad, Kochi, Patna and Lucknow, among others, are the cities from where flights have been cancelled.
During De Roni's tenure the airline made profit for two successive years.
Dhawan has replaced Mayank Agarwal as captain while Bayliss, who coached England to the 2019 World Cup title and KKR to two IPL titles, has replaced Anil Kumble.
It carried more than five million passengers across various sectors registering a growth of 20 per cent.
The Wadia group-owned airline is building a new management team and putting in place strategies for efficient operations. Leading the change is Cornelis Vrieswijk, the airline's new chief executive officer.
It is time the BCCI allows IPL teams to play exhibition games overseas in the off-season as it will only strengthen what is already a strong product, said Punjab Kings co-owner Ness Wadia.
The National Company Law Tribunal (NCLT) on Thursday reserved its order on crisis-hit airline Go First's plea seeking voluntary insolvency resolution proceedings and interim moratorium on financial obligations while aircraft lessors vehemently opposed the petition. Amid the airline facing severe financial crunch and cancelling flights, a two-member NCLT bench comprising Justice Ramalingam Sudhakar and Member L N Gupta heard the arguments for and against the petition for nearly four hours. As aircraft lessors opposed the plea, the counsels for Go First said the petition was not a malicious one to avoid payment of dues to its creditors but to save the company.
Chief executive Giorgio de Roni explains to Business Standard the merit of GoAir's cautious approach.
It has a fleet of 47 planes including 17 Airbus A320Neo. The remainder include Airbus A320Ceo planes.
The 5 CCTV cameras at Garware Pavilion in Wankhede stadium where actress Preity Zinta was allegedly molested by industrialist Ness Wadia on May 30 have neither captured any argument nor scuffle inside the premises between the estranged couple, police said on Tuesday.
The aircraft has accumulated these dues off route navigation, landing and parking at its airports.
IPL franchise Punjab Kings is unhappy about KL Rahul leaving the team despite getting 'all the freedom' as the captain over the past two seasons and says it would be unethical if he has already been approached by a new franchise.
Loans for Indian airlines have dried up as banks have become cautious to lend to the sector.
A division bench of Justices Ranjit More and Bharati Dangre on Monday quashed and set aside the proceedings.
GoAir announced discounts on fares, starting from December 21.
Failure to reinstate salary even two years after the drastic cuts has landed the airline industry in a massive industrial relation crisis. While employees of Air India had organised a strike back in 2011, it is for the first time that private airlines are facing serious stress related to workers. IndiGo witnessed two of them, back to back. In the first instance, around 50 per cent of the IndiGo flights were delayed as a large number of crew members went on mass sick leave, apparently to participate in a rival airline's walk-in job interview.
Mumbai Police on Tuesday recorded the statement of Bollywood actress Preity Zinta in connection with the molestation case she has registered against her former boyfriend and industrialist Ness Wadia.
Tata Sons has moved the Supreme Court against an estimated Rs 300-crore (Rs 3-billion) sales tax demand from the Maharashtra state government.
Four more witnesses listed by industrialist Ness Wadia, accused of molesting, abusing Bollywood actress Preity Zinta during an Indian Premiere League match on May 30 at Wankhede Stadium, have testified before the investigators, denying any arguments between the estranged couple, the police said on Thursday.
Markets regulator Sebi has kept in abeyance the processing of Go Airlines' draft papers for an initial public offer worth Rs 3,600 crore. Go Airlines (India) Ltd, which has announced rebranding itself as 'Go First', filed preliminary papers for an initial share sale worth Rs 3,600 crore in May. The proceeds will be mainly used to repay dues. The "issuance of observations (has been) kept in abeyance", according to Sebi's latest update on processing status of Go Airlines' draft offer documents. The information was updated on June 25. In Sebi parlance, issuance of observations implies its go-ahead for the IPO.
'And he was really trying just to do the best by the shareholders, and by the laws of India.'
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