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Go Air is an ultra-low-cost carrier (“ULCC”) focused on maintaining low unit costs and delivering compelling value to customers that drives the firm's unit revenues. As our CAPA reports, the airline company is one of the fastest-growing airlines in India, with an increase in domestic market share from 8.8% in fiscal 2018 to 10.8% in fiscal 2020. The firm is focused on maintaining a low-cost base and high utilization of our modern and fuel-efficient fleet. As of February 10, 2021, Go Air's fleet inventory consisted of 56 aircraft, of which 46 aircraft were A320 NEO models and 10 were A320 CEO models. All aircraft use the same airframe and are 'sister' ships with common configurations to reduce operational and maintenance costs. The average age of the firm's aircraft was 3.7 years, which, according to CAPA, was the youngest average fleet age among Indian LCC carriers and one of the youngest fleets of any LCC globally.
Go Air has an order book of 98 A320 NEO aircraft and expects to take delivery of eight additional A320 NEOs, in fiscal 2022, 14 in fiscal 2023, and 14 in fiscal 2024. The firm is expected to take deliveries of the balance aircraft from fiscal 2025 onwards. Go Air has the highest percentage of next-generation aircraft in our fleet in India, as per the CAPA Report.
The firm's passenger volume increased at a CAGR of 22.4% from 10.8 million passengers in fiscal 2018 to 16.2 million passengers in fiscal 2020. Market share of the airline of domestic passenger volume increased from 8.8% in fiscal 2018 to 10.8% in fiscal 2020. Further, in the current fiscal year, we have added three new A320 NEOs to our network to support the expected growth in demand.
|S.No.||1 - Company||2 - Directors||3 - Promoters|
|Entity Name||By the Company||Against the Company||By the Director||Against the Director||By the Promoter||Against the Promoter|
|Material civil cases||2||-||1||8||-||-|
|Income Statement(in Milllions)||Dec'2020||March'2020||March'2019|
|Gross Operating Income||14,384.40||72,580.10||59,367.50|
|Cost of Employee & Inventory||1,959.40||8,774.00||6,009.20|
|Profit Before Tax and Exceptional items||-7,374.20||-19,037.20||-9,091.90|
|Profit/Loss After Tax||-4,706.90||-12,707.40||-3,866.00|
NUSLI NEVILLE WADIA,
• Interglobe Aviation Limited • Spicejet Limited
Net proceeds from the fresh issue worth Rs 3600cr will be utilized for:- • Prepayment or scheduled repayment of all or a portion of certain outstanding borrowings availed by our Company • Replacement of letter of credits, which are issued to certain aircraft lessors towards securing lease rental payments and future maintenance of aircraft, with cash deposit • Repayment of dues to Indian Oil Corporation Limited, in part or full, for fuel supplied to our Company • Part-payment of outstanding lease rental of the Company’s aircraft leased from certain aircraft lessors • Part-payment of outstanding amount towards maintenance, repair, and overhaul of aircraft* • General corporate purposes