GoAir reshuffles top management

GoAir, the Wadia-group promoted airline, has roped in former SpiceJet CEO Mark Winders as the executive director. The airline is expected to bring in a few new professionals to the management. "We have appointed Mark Winders as the executive director," said Jeh Wadia, managing director, GoAir. Aviation industry sources said that the airline may see a major reshuffle at its top-deck with the appointment of a new chief commercial officer and chief financial officer. Sources said that a senior executive from a leading FMCG company is set to join the airline. The move comes at a time when the airline is planning to sell 20-26% stake to a strategic investor.

The airline is in negotiations with a few short listed investors. The buzz is that short listed players include investment arm of the Abudhabi Government.Global investment bank Morgan Stanley is the banker for the stake sale. Currently, the airline has a fleet of seven A320 aircraft with 20 more on order. Private equity investors have revived their interest in investing in low-cost airlines as they have started making profits again. Investors, who believe in the long-term potential of the industry, are queueing up with investments. GoAir has a market share of about 4%. And it has added new destinations recently.

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