It has a fleet of 47 planes including 17 Airbus A320Neo. The remainder include Airbus A320Ceo planes.
Most group firm MDs will report to Nusli Wadia's younger son.
In this interview -- his first in over three years -- Wadia also talks about the road ahead for his group.
Textiles-to-aviation conglomerate Wadia Group, which made a foray into the real estate space recently with a new company Bombay Realty, on Tuesday launched a fully integrated, mixed use development project -- 'Island City Centre' -- in south central Mumbai.
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.
The Wadia Group-promoted budget carrier Go Airlines (India), or GoAir, is gearing up to launch international operations by the end of this financial year or early the next.
In a breather to the Mumbai-based realty developer G L Raheja group in its long-drawn legal battle with Wadia Group Chairman Nusli Wadia over a 478-acre prime plot in Malad, Mumbai, the Bombay High Court on Thursday allowed an appeal filed by a Raheja unit against an earlier order, which was in favour of Wadia.
Bombay Realty, a unit of the Wadia group, recently launched a residential project in Mumbai. The company is looking at more projects in Mumbai and Bangalore. Managing Director Jeh Wadia talks about the company's strategy.
Bombay Burmah sees quick divestments, eyes buyouts.
Wadia group's no-frills carrier Go Airlines on Tuesday said it will acquire eight more aircrafts to increase its fleet to 21 by July 2014 from the existing 13.
GoAir, run by the Wadia Group, has come out with an innovative way to attract passengers and reduce distribution cost. The smallest of all domestic airlines by market share, GoAir has rolled out a loyalty programme making it the first low-cost carrier to launch such a scheme.
Ness gets Bombay Burmah, Bombay Dyeing goes to Jeh.
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.
Companies across the sector are restructuring payrolls of crew, cutting allowances, and extending leave without pay duration as they realise they will have more aircraft and employees compared to customers.
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).
Given that debt is a major problem for most airlines, investors with a medium-term horizon should look at them.
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.
Groupe Danone, the global dairy products major based in France, netted a capital gain of Rs 380 crore ( $56 million) when it recently divested its indirect 25.5 per cent holding in the Bangalore-based biscuit major Britannia Industries.
While Wal-Mart is facing delay in the rollout of its retail plan, Carrefour SA, the world's second-largest retail chain, is still struggling to finalise its Indian partner even after six years of persistent search.
During De Roni's tenure the airline made profit for two successive years.
The IPR committee of the Britannia board was created in May 2006 to deal with all IPR matters. For the last one year, the committee has been working to resolve the issue of the use and registration of Tiger by Groupe Danone in several countries.
Chennai-based Paramount Airways is looking to acquire GoAir, the budget carrier promoted by the Wadia Group, in a cash and stock deal, a business news channel reported on Sunday quoting sources close to the development.
The Wadia-group promoted private carrier GoAir's Chief Executive Officer (CEO) Edgardo Badiali, is believed to have has resigned from his post.
After fighting for over four years, Groupe Danone and the Wadias have struck a deal that will see the French food giant exit their biscuit joint venture, Britannia Industries Ltd.
As many as 17 Indians -- including Wadia Group chairman Jeh Wadia, SKS Microfinance CEO Vikram Akula, Bhatia Enterprises chairman Sabeer Bhatia, music composer A R Rahman, and sitar player Anoushka Shankar -- have been named the Young Global Leaders for 2008, in a list announced by the World Economic Forum on Tuesday. As many as 245 leading executives, public figures and intellectuals -- all aged 40 or younger -- were chosen from around the world by the WEF.
The CEOs met late last month to discuss the agreement. Industry experts said one advantage would be the fact that GoAir was looking at increasing its fleet to 20 aircraft by 2011. "If SpiceJet acquires the airline, it will gain access to slots for the aircraft orders which it can sell," said an industry expert. Selling order slots has emerged as a lucrative revenue stream for several Indian airlines that are feeling the pinch of falling passenger traffic.
GoAir reluctant to respond to overtures.
The government on Friday said it would examine a complaint by the Mumbai-based textile-to-food conglomerate Wadia group against Groupe Danone, its French joint venture partner in Britannia Industries Ltd.
The advantage could translate into Groupe Danone buying the Wadias's stake in Wadia BSN, the 11-year-old venture between the two groups, and hence pave the way for Groupe Danone doing business on its own in India.
In India, Danone holds a 25.5 per cent stake in market leader Britannia Industries through holding company Associated Biscuits International Holdings.
The euro 14 billion French dairy major, Groupe Danone, has formally initiated arbitration proceedings to end its partnership with the Mumbai-based Wadia group.
Groupe Danone is contemplating an exit from the biscuits category in India, due to low margins and a plethora of small manufacturers.
GoAir has recorded 73% growth in its passenger traffic so far this fiscal.
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 aircraft has accumulated these dues off route navigation, landing and parking at its airports.
French dairy major Groupe Danone has offered to pay the Wadia Group euro1 million ($1.34 million) as compensation to use its Tiger brand in international markets.
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.
It carried more than five million passengers across various sectors registering a growth of 20 per cent.
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