The airline, India’s largest airline by market share, is raising funds plans and rebranding in the midst of a second wave of Covid-19 that has decimated travel demand. Airlines have grounded aircraft, cut flights and deferred payments to ride out of the crisis.
According to documents filed with market regulator SEBI, the Wadia family and their Go Investments company hold 100 per cent stake in the airline. At least 22.56 per centof Go Investment is pledged with a lender’s consortium.
In the nine month ending December, the airline posted a loss of Rs 470 crore on total income of Rs 1438 crore. The airline in FY 2020 posted a loss of Rs 1270 crore on an income of Rs 7258 crore, according to consolidated financial statements that form a part of the IPO
Go Air will be the third Indian airline to list in stock exchanges. IndiGo and SpiceJet are listed. Jet Airways and Kingfisher Airlines were listed before shutting down.
In 2015, IndiGo raised Rs 3,008 crore from public listing. Go Air currently holds a little more than eight percent market share of the domestic market.
India suspended air travel for two months for a national lockdown last year and resumed it on May 24 with caps on capacity.
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