After being in the skies for 15 years, Wadia Group-owned GoAir has rebranded itself as Go First as the airline focuses on ultra-low-cost business model amid the aviation industry grappling with pandemic headwinds. The announcement on Thursday also comes amid reports that the airline was preparing for an initial share sale to raise funds for its ambitious expansion plans. The Go First as ULCC (ultra-low-cost carrier) would operate single aircraft type across its fleet, which currently has both Airbus A320 and A320Neos (new engine option) planes in operation, it said in a said. With a 7.8 market share per cent in March, the city-based airline breached the 10 per cent market share threshold for the first time in June 2014 and barring a few occasions it kept hovering in the sub-10 per cent range till the emergence of the pandemic last year.