"Talks are on for the past some months...However, it may take a little while before the promoters take the final call on the issue," a source close to the development said.
Elaborating, the source said that GoAir was only seeking additional investment and would not be hiving off stake to investors.
"The on-going negotiations are only for raising additional funds. The company has no plans to sell or dilute its equity holding in any manner," he said.
Asked for the profile of the parties with whom GoAir was in negotiations, the source said that they comprised of both institutional investors as well as others.
The company was also in talks with some private equity players, the source said.
GoAir, had, in 2006, placed orders for 20-aircraft with Airbus and has taken delivery of four aircraft so far. It plans to take delivery of nine more aircraft in the next 18 months.