GoAir Rebrands As Go First Ahead Of Its IPO

Wadia Group-backed no-frills carrier GoAir has been rebranded as 'Go First'. The airline has filed the Draft Red Herring Prospectus (DRHP) for its Rs, 3,600 crores of initial public offering (IPO), betting big on its ultra-low-cost business model.

To tide over the impact of the COVID-19 pandemic, the airline is also preparing to go for an IPO to raise funds for its expansion plans. The rebranding comes at a time when the number of air passengers has gone down drastically.

The airline rebranded itself as Go First on May 13 as part of the preparations and is listed third on the bourses after SpiceJet and IndiGo. 

GoAir launched in 2005 and currently owns a market share of more than 9.5 per cent in India.

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Go First is scheduled to complete its IPO process by the end of this year and has prepared the ground by installing a professional administration.

The ULCC (ultra-low-cost carrier) of Go First plans on operating narrow-body aircraft across its fleet, comprising Airbus A320 and A320 Neos (new engine option) planes in operation.

Kaushik Kohna, CEO of Go First, stated, "Even as the times continue to be extraordinary. Go First sees opportunities ahead. This rebranding reflects our confidence in the brighter tomorrow. The Go First Team will strive to deliver the brand and make 'You Come First' a reality."

Kohna added that the airline has stayed resilient during the really tough times in the past 15 months.

Go First is cited to get ahead of its airline competitors by functioning with the ULCC model. The model consists of the latest average fleet among Indian low-cost carriers. Most Indian airlines like IndiGo, SpiceJet, and AirAsia India operate on a low-cost model.

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ULCCs will have fewer amenities than the ongoing low-cost carriers, and therefore will constitute a greater range of add-ons for a fee. For instance, passengers have to pay extra for selection of seat and food, and baggage is also subject to additional fees.

&ldquoIndia has a fast-developing airline market and Indian consumers are extremely value-conscious but very demanding when it comes to the flying experience&rdquo, said the airline's Vice Chairman Ben Baldanza.

He further added, "The combinations of attractive airfares, a squeaky-clean flying experience, well-sanitized flights, and on-time performance is what Go First is designed to deliver. And, that is exactly at the core of our brand and service."

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Go First also announced that it aims to vaccinate most of its employees by May-end - the airline has already chalked out plans and tied up with hospitals.