Aviation

GoAir IPO likely next fiscal

DELHI

GoAir now plans to come out with its initial share sale next fiscal amid persisting uncertainty over the scheduled delivery of new Airbus aircraft which is key for the no-frills carrier’s ambitious growth strategy.

The airline originally was looking to hit the capital market in the current financial year, which has also seen budget carrier IndiGo’s blockbuster IPO, report agencies.

Sources said that GoAir is still awaiting clarity on the delivery of 72 Airbus A320 neo planes before taking a final decision on the timing of the IPO. The delivery of the aircraft was to start from April this year.

While the Wadia group airline has not officially made its IPO plan public, sources said GoAir would be looking to raise around USD 150-175 million. At current exchange rate, this would translate into Rs 1,000 to 1,200 crore.

LEAVE A REPLY

Please enter your comment!
Please enter your name here