GoAir, a 15-year-old airline of the Wadia Group, has decided to rebrand. The well-known airline of the country, the low cost airline Go Air, has now changed to ‘Go First’.
New Delhi. GoAir, a 15-year-old airline of the Wadia Group, has decided to rebrand. The well-known airline of the country, the low-cost airline Go Air, has now changed to ‘Go First’. The aviation sector is also facing many difficulties due to the Corona epidemic in the country. To overcome this, it will now focus on the low cost business model.
GoAir is now Go First!
Whether it's your safety, your time, or your comfort – at Go First you always come first! Experience the benefits of the next gen fleet, at ultra-low-cost fares, so your travel plans are never hampered. We hope to see you on board soon! pic.twitter.com/4aSfRNTfEk— GO FIRST (@GoFirstairways) May 13, 2021
Actually, Go Air is focusing on ULCC (ultra-low-cost carrier), which is why it has taken this decision. On May 13, the airline formally said in a statement that it was rebranding itself as Go First. Let me tell you that the airline started operations in 2005 and its fleet has only more than 50 aircraft, even as the rival IndiGo which started a year later, is more than 5 times in size.
Let us know that GoAir is preparing to raise funds from the primary market through a public issue. According to the report, GoAir will launch an IPO to raise Rs 2500 crore. Sources said that this IPO can be launched by September 2021, after which you will be able to subscribe to it.
For this IPO, the company was preparing to file a draft Red Herring Prospectus (DRHP) with the market regulator SEBI in the Second Week of April 2021. The airline is planning to file for an IPO again. According to the report, the funds raised through this IPO will be used by the company to repay its debt and to meet the needs of working capital. Let us tell you that till March 2020, the company had a debt of Rs 1780 crore.
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at informalnewz@gmail.com
