Go First as ULCC (ultra-low-cost provider) will function single plane sort throughout its fleet
GoAir has filed the draft purple herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) for its preliminary public providing. The Wadia group-owned airline plans to boost Rs 3,600 crore via a recent concern of shares.
A draft purple herring prospectus, also referred to as a proposal doc, is a preliminary registration doc previous to an public providing. The GoAir IPO will probably be managed by ICICI Securities, Citigroup and Morgan Stanley.
GoAir began operations in 2005 and has over 50 plane in its fleet. Ahead of the IPO, GoAir introduced on Thursday that it has rebranded itself as ‘Go First‘ as it can deal with ultra-low-cost enterprise mannequin amid the pandemic.
Go First as ULCC (ultra-low-cost provider) will function single plane sort throughout its fleet, which presently has each Airbus A320 and A320Neos (new engine choice) planes in operation. An ultra-low-cost provider (ULCC) is extra inexpensive than a low-cost provider (LCC). However, the fliers must pay further for luggage, seats and meals.
