GOAIR SEEKS $100 MILLION TO FINANCE NEW AIRCRAT

Indian low cost carrier GoAir is in the process of raising $100 million to fund its aircraft acquisition programme. The airline is in talks with financial institutions and a deal is expected to be agreed soon. GoAir will take 10 A320 aircraft over the next three years. “We are negotiating with some banks and financial institutions to raise around $100 million (around Rs 400-500 crore), both in India and abroad,” local media reports quoted an airline source as saying.