Wadia denies reports on Paramount acquiring stakes

Mumbai, June 6 (UNI) Scotching reports in a section of media that Paramount Air had picked up stakes in his airline, GoAir Managing Director Mr Jeh Wadia today said his low-cost carrier's focus remained on affirmatively scaling up of its business.

In a strongly-worded denial here, Mr Wadia termed the reports as ''simply baseless'', and also denied any meeting between the two airlines.

''Information surrounding any kind of meeting between GoAir top management/shareholders and paramount top management/shareholders is baseless. No such meeting or discussion has taken place at all.

Information of any kind of alliance or merger or sale or financial participation between the parties is pure speculation and without any foundation whatsoever,'' Mr Wadia said.

''GoAir would like to re-affirm full implementation of its expansion plans. Its focus remains affirmatively on scaling up of its business,'' he added.

UNI