Go Very First as ULCC (ultra-low-cost carrier) will run single aircraft type across its fleetGoAir has actually filed the draft red herring prospectus (DRHP) with the marketplace regulator Securities and Exchange Board of India (SEBI) for its initial public offering.
The Wadia group-owned airline company strategies to raise Rs 3,600 crore through a fresh problem of shares.A draft red herring prospectus, likewise called a deal document, is a preliminary registration file prior to an public offering.
The GoAir IPO will be managed by ICICI Securities, Citigroup and Morgan Stanley.GoAir started operations in 2005 and has over 50 airplane in its fleet.
Ahead of the IPO, GoAir revealed on Thursday that it has rebranded itself as 'Go First' as it will focus on ultra-low-cost organization model amidst the pandemic.Go First as ULCC (ultra-low-cost provider) will run single aircraft type throughout its fleet, which presently has both Airplane A320 and A320Neos (new engine choice) planes in operation.
An ultra-low-cost carrier (ULCC) is more affordable than an affordable provider (LCC).
However, the fliers need to pay extra for baggage, seats and food.