Aviation

GoAir firms up plan for share sale

DELHI

Wadia Group-promoted budget carrier GoAir is planning an initial public offering in the current fiscal, ahead of the scheduled delivery of 72 Airbus A-320 planes from April next year.

GoAir will be the second domestic carrier to come out with an IPO in the current fiscal after rival IndiGo, which is all set to raise a little over Rs 3,200-crore through an initial share sale on October 27.

As of now, only two private domestic carriers – Jet Airways and SpiceJet – of the four are listed.

GoAir is likely to file the preliminary papers for the share sale soon, the sources added. However, the likely size of the planned IPO could not be ascertained.

A GoAir official said, “We don’t comment on market speculations.”

GoAir and IndiGo are the only two profitable domestic carriers.

Sources said the share sale would help GoAir in its proposed international operations, which is at present on hold as it does not have 20 aircraft in its fleet, one of the two requisites for domestic carriers to fly abroad.

The carrier has only 19 Airbus A320s. It was scheduled to take the delivery of the 20th plane last year as part of its 20-aircraft order at the time of commencement of operations in November 2005.

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