 Why is GoAir not hiking prices?Published on Sat, Sep 02, 2006 at 11:13 | Source : Moneycontrol.com Updated at Tue, Oct 10, 2006 at 15:16 Like this story, share it with millions of investors on M3
The hike in aviation fuel may force carriers to increase passenger fares marginally. While GoAir is yet to hike fares, it sees only a Rs 50-100 hike coming in. MD, Jeh Wadia today also announced a JV with SIAEC (Singapore Intnl Airlines Engineering Company) to set up an engineering and maintenance facility. The Wadia Group will invest USD 30 million in the venture and cater to all carriers. Scheduled to start operations by October this year, the line maintenance will have its presence in seven airports while the heavy maintenance operations will be up in nine months.
The company is also betting on the government relaxing norms to allow carriers to outsource ground handling and security, which could lower operating costs by 20-30%.
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The airline itself plans to add seven new aircrafts to its fleet by November this year, and a total of 18 aircrafts of the A320 family by December next year. The low cost dark horse is expecting to be cash positive by the end of the financial year and turn profitable by the end of its second operating year.
