Yet, despite high operating costs in India that have made larger rivals such as Kingfisher Airlines go bust, the Wadia Group-promoted company posted healthy profits in the past financial year.
Chief executive Giorgio de Roni explains to Business Standard the merit of GoAir’s cautious approach.
Edited excerpts:
GoAir is said to have a cautious approach in adding capacity and expanding operations, which has limited the airline’s market share. How true are such allegations?
It is not a part of our strategy to chase market share.
We want to develop a sustainable business model. We were profitable last year and we will certainly declare profits for the first quarter of the current financial year.
In 2011, we had placed order for 72 aircraft, deliveries for which will be made between 2016 and 2020.
In the meantime, we will add one aircraft on July 10, two in October and one more in February next year, taking our fleet size to 19.
We are growing but we have a cautious approach.
The Wadia Group was set up in 1736 and is in business for over two centuries.
We are here to stay.
India is growing and the aviation market here is estimated to become the third largest in the world by 2020.
Preview: India need to beat SL by one run or off last ball
The Mehta who surprised Mallya
End of the race for Mahalaxmi Race Course?
Race for Mallya's company hots up
Markets gain on global optimism