Another round of consolidation in the aviation sector may not be far away. The Wadias who own GoAir are willing to offload upto 26% stake in the company and are evaluating proposals from FIIs, strategic investors and private equity players.
South-India based Paramount is said to have offered Rs 150 crore to buy GoAir, a report which GoAir has denied. Meanwhile, Paramount is also reportedly eyeing another airline, SpiceJet. However, SpiceJet in a statement denied any talks with Paramount on equity offloading.
Source : Economic Times