GoAir becomes Go First,embraces the Ultra-Low-Cost Airline approach adgully.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from adgully.com Daily Mail and Mail on Sunday newspapers.
GoAir rebrands as Go First
Share Via:
The airline is currently in the process of transitioning all its operations under the new brand.
Leading Mumbai-based airline brand GoAir has rebranded itself to become Go First. At the heart of this revamp is the full embrace of the ultra-low cost airline model .
With the youngest average fleet among Indian LCC carriers, majority of which are Airbus A320neos, with high-density seating and single aircraft type across its fleet, Go First is positioned to get ahead of its peer group by operating with ultra-low cost.
To communicate this change, Go First dons a rebranded identity. The new identity is complete with contemporary graphics and a bolder, brighter blue. The airline is currently in the process of transitioning all its operations under this new brand.
GoAir rebranded itself as Go First on May 13, 2021. | Photo Credit:
Arunangsu Roy Chowdhury
The proceeds are planned to be utilised towards “prepayment or scheduled repayment of all or a portion of certain outstanding borrowings” as well as for replacement of letter of credits with cash deposit. Budget carrier GoAir, which rebranded itself as Go First, filed preliminary papers for an initial share sale worth ₹3,600 crore.
The Wadia group-promoted carrier has been operating for 15 years and the proceeds from the initial public offer (IPO) will be primarily utilised for repayment of debt.
The airline is looking to raise up to ₹3,600 crore through sale of shares, according to the draft red herring prospectus (DRHP).
Issuance of fresh equity shares.
Go Airlines to make repayment of dues of Rs 254.93 crore to IOL.
New Delhi: Go Airlines, which has rebranded itself as Go First , has filed preliminary papers for an initial share sale worth Rs 3,600 crore and the proceeds will be mainly used to repay dues amid the aviation industry facing strong headwinds due to the coronavirus pandemic.
After taking to the skies 15 years ago, the Wadia group-promoted budget carrier which has ambitious expansion plans is looking to mop up the amount through issuance of fresh equity shares. It also has plans to raise up to Rs 1,500 crore by way of a pre-IPO placement.
Go Airlines files draft papers for Rs 3,600 crore-IPO
NEW DELHI, May 14: Go Airlines, which has rebranded itself as ‘Go First’, has filed preliminary papers for an initial share sale worth Rs 3,600 crore and the proceeds will be mainly used to repay dues amid the aviation industry facing strong headwinds due to the coronavirus pandemic.
After taking to the skies 15 years ago, the Wadia group-promoted budget carrier which has ambitious expansion plans is looking to mop up the amount through issuance of fresh equity shares. It also has plans to raise up to Rs 1,500 crore by way of a pre-IPO placement.