GoAir, one of the leading no-frill airlines of India is likely to sell its 40 percent shares to Qatar Airways, which is a leading international airline and provide world class facilities. According to a CNBC TV18 report, the Wadia Group, which holds all the shares of GoAir has planned to sell stakes in order to reduce the debt of the airline.
With the ball in its court, the Qatar-based airline is likely to hike the stake shares to 49 percent under the Foreign Direct Investment (FDI) regulations. Reports are that the two airlines have already appointed bankers to facilitate the deal conveniently.
However, the two airlines in deal are also concerned over the bilateral rights with respect to government policies of each country. There are also reports that GoAir airlines may include foreign investors in the coming months. The best thing out of this business deal is that there are other international airlines too that are interested in the similar kind of association and very soon the Indian aviation industry will experience a number of such business deals.