04 Jun 07 Paramount Airways to acquire GoAir
If all goes well, the Indian skies would witness another mega merger / acquisition. Chennai based Paramount Airways is in talks with the wadias for aquiring a stake in loss making budget airlines GoAir. Paramount Airways seems to be interested in GoAir’s parking bays, pilots and aircraft. Paramount Airways has placed a $100-150 million cash buyout proposal for buying out GoAir. Wadias may also be offered a stake in the new merged entity (Paramount Air? or Go Paramount?) to make the deal more attractive. There is a huge consolidation taking place in the Indian aviation industry which has already seen 3 large mergers / acquisitions such as the Kingfisher / Air Deccan deal, the Jet airways’ acquisition of Air Sahara and the indian airlines -air india merger, in the recent past.
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