Saturday, February 03, 2007

Go Air to offload 26% stake

Mumbai: Go Air is talking to private equity players for off loading about 26 per cent stake.
Sources have told NDTV that Go Air is ready to strike a deal with Chicago-based Gatx Corporation and Boston-based Wellington Management offloading 26 per cent equity stake in the company. The valuation of Go Air is pegged at around Rs 400 crore.
"We are in talks with strategic investor who will bring on to the table value, not just money," said Jeh Wadia, MD, Go Air.
Gatx Corporation - through its arm Gatx Air – is into leasing narrow body aircraft to commercial airlines worldwide.Gatx Air owns 150 aircraft - 46 owned and ownership interest in 104 aircraft through joint ventures.
Wellington Management holds significant equity in several global airlines including US Airways, Northwest Airlines, Continental Airlines besides equity stake in AMR - the parent company of American Airlines.
02/02/07 Rumi Dutta Hardasmalani/NDTV.com