Jeh Wadia steps down as GoAir MD, Ben Baldanza made vice chairman

Wadia group scion Jeh Wadia stepped down as managing director of GoAir, the firm announced on Monday.

The airline appointed Ben Baldanza, former CEO of Spirit Airlines, its vice-chairman.

Wadia will, however, continue on the airline’s board.

GoAir is planning an initial public offering (IPO) and said the steps are part of its efforts to strengthen the management of the company by bringing on board proven industry professionals, a strategy that has worked well for the Wadia group in its other ventures, including Britannia.

The airline, which according to media reports intends to raise around Rs 4,000 crore, has a fleet of 53 Airbus A320 aircraft and had hired merchant bankers and law firms for the share sale.