Mumbai: Contradicting a recent report that Jeh Wadia would step down as managing director of low-cost carrier, GoAir, in favour of a CEO, the Wadia Group on Wednesday announced his continuation in the same post and also that the airline would expand into a range of ground based services.
The Group said that GoAir plans to appoint a CEO, who would report directly to the managing director and would pilot the airlines day-to-day business operations.
Meanwhile, the Wadia group is looking to invest in GoEngineering, GoGround Services, GoCargo and several other investments. Each of these businesses will also have CEOs who would also report to the MD, Jeh Wadia.
Says Wadia, "The airline has decided to look at investments in GoEngineering, GoGround Services and GoCargo, besides others." There was no word, however, on the size of investments the company was looking at.
GoAir has already entered into a joint venture with Singapore Airlines (SIA) Engineering for setting up an engineering facility in India.
GoEngineering will start operations with multiple location facilities, offering maintenance solutions for both Airbus and Boeing planes. Also, the cargo operations will help boost the airline's revenue.
Currently, GoAir operates 396 weekly flights to 11 airports across the country and has had the highest loads for January, February, March, April, May and June (90 %). It also has the highest market share per aircraft in the industry.