GoAir (Mumbai International) CEO Giorgio De Roni has confirmed the LCC is in talks with an undisclosed foreign operator concerning the sale of some of its shareholding.
"We are working on a strategic partnership with a foreign airline. We are open to giving equity," he told The Wall Street Journal.
Roni said that while the carrier's board is currently in the process of readying its proposal for owners, the Wadia Group, it was in no rush to make a decision.
"There is no deadline to take a decision. We are under no pressure," he said.
Funds will likely go towards the acquisition of additional new aircraft which would allow the LCC to expand into the international market as early as April next year.
The fifth largest airline in India by market share, GoAir has been linked to a number of potential tie-ups in recent years. In 2008, a British Airways (BA, London Heathrow) proposal to acquire a controlling stake in the airline was thwarted by foreign-ownership restrictions.
