August 23, 2013 / 08:57 IST
Budget carrier GoAir is likely to get a foreign partner soon. CNBC-TV18 learns from sources that Qatar Airways is eyeing a minority stake in Wadia Group promoted GoAir.
Qatar’s national carrier has valued GoAir at USD 550 million and if the deal goes through, promoters of the Mumbai-based no frills carrier will continue to hold majority stake. However, Qatar Air will have right to hike stake if the deal concludes, sources further add.
It is also learnt that GoAir has plans to retire part debt through stake sale via fresh issue of shares and promoter stake dilution.
GoAir is yet to get government permission to expand globally. The airline has 19 aircraft in its felt and required 20 to fly international
However, GoAir said it cannot comment on market speculation and there is no news on government waiver for international operations as yet.
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