GoAir raises up Rs. 3000 Cr IPO as aviation stocks rise

Posted on

Go air, Wadia Group, IPOWadia Group-promoted Go Airlines India Limited, which operates the low-fare airline service GoAir, is gearing up for an IPO (initial public offering) of Rs. 3,000 Cr, since investors have turned bullish on airline stocks. The Go Airlines has appointed Kotak Mahindra Capital and Axis Capital to manage the IPO.

Go-Air operates with a fleet of 19 Airbus A-320 and 3 numbers Airbus A-320 neo aircraft. It also adding new fuel-efficient aircraft to make the airlines more cost-effective.

Most Indian airlines have been announcing profits for the last two financial years as lower fuel prices, which account for about half of their operating costs. GoAir registered profit of nearly Rs. 166.00 Cr, in 2015 -16, as per aviation consulting company CAPA. In 2014 – 15, fiscal, GoAirlines reported a profit of Rs. 218.00 Cr, on operating revenue of Rs. 3,066.00.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s