Go First (Go Airlines) IPO

After weathering the turbulent times of the pandemic-triggered travel restrictions, Go Airlines is planning to launch its IPO in a new avatar. As a part of the turnaround plan, the Wadia Group-owned ultra-low-cost carrier, earlier known as Go Air, has rebranded itself as Go First. Between FY19 and FY21, the airline has been consistently facing rough weather. Even in the first half of FY22, the company made a loss of ₹923 crore on account of higher fuel and maintenance costs. But with travel restrictions being removed, the airline will be hoping to scale new heights.

The net proceeds raised through the Go Airlines IPO will be used for reducing debt. The Go First Airlines IPO will also help the company to repay fuel dues to Indian Oil Corporation. The money raised from the Go Air IPO will also be used to replace the letters of credit, given to aircraft lessors with cash deposit.