Wadia Group-backed GoAir has been rebranded as 'Go First' as the airline is betting big on its ultra-low-cost business model to tide over the impact of the COVID-19 pandemic. The airline is also preparing to go for an initial public offering (IPO) to raise funds for its expansion plans.
Go Air is the third Indian carrier to be listed on the bourses after SpiceJet and IndiGo. The airline, which was launched in 2005, has a market share of more than 9.5 per cent in India currently.
The Go First as ULCC (ultra-low-cost carrier) would operate narrow-body aircraft type across its fleet, which comprises Airbus A320 and A320 Neos (new engine option) planes in operation.
According to an official release, Go First is positioned to get ahead of its peer group by operating with the ULCC model. The ULCC model comprises the youngest average fleet among Indian low-cost carriers, majority of which are Airbus A320 Neos. CEO of Go First Kaushik Kohna said the airline has stayed resilient during the really tough times in the past 15 months.
Kohna said, "Even as the times continue to be extraordinary. Go First sees opportunities ahead. This rebranding reflects our confidence in the brighter tomorrow. The Go First Team will strive to deliver the brand and make 'You Come First' a reality."
The airline's Vice Chairman Ben Baldanza said that India is a fast-developing airline market. Baldanza added that Indian consumers are extremely value-conscious but very demanding when it comes to the flying experience.
He added, "The combinations of attractive airfares, a squeaky-clean flying experience, well sanitised flights, and on-time performance is what Go First is designed to deliver. And, that is exactly at the core of our brand and service."
Edited by Mehak Agarwal; with agency inputs