Goair renamed Gofirst ahead of IPO
NEW DELHI: No-frill carrier Goair has rebranded itself to Gofirst ahead of the company’s proposed plan for an initial public offering (IPO).
The rebranding exercise by the Wadia Group-controlled airline comes at a time when a second wave of Covid-19 infections has led to a drastic reduction in air passenger traffic.
“At the heart of this revamp is the full embrace of the ultralow-cost airline model,” the airline said on Thursday. “It is this competitive advantage that enables the airline to offer its customers a combination of ultra-competitive fares and a safe flying experience,” it said.
An ultra-low-cost carrier (ULCC) is different from a low cost carrier (LCC) as they typically operate different business models with unbundled fares, which result in cheaper tickets.
On an ULCC, passengers have to pay extra for baggage, while selection of seat and food are subject to an additional fee. ULCCS also have fewer amenities than simple low-cost carriers and, thus, have a greater range of add-ons for a fee.
Most Indian airlines such as Indigo, Spicejet, and Airasia India operate on a low-cost model. “Consumers in India are hugely value conscious but are quite demanding when it comes to flying experience,” said the airline’s vice chairman, Ben Baldanza. “The combinations of attractive airfares, a squeaky-clean flying experience, well sanitized flights, and on-time performance is what Gofirst is designed to deliver,” he said.
Mint had on May 12 reported that Goair, now Gofirst, will complete its IPO process by the end of this calendar year.
The airline also put in place a professional management in anticipation of the IPO.
Goair, which started operations in 2005, had in March said that Jeh Wadia, the son of the company’s chairman, Nusli Wadia, had stepped down as the managing director, while industry veteran Ben Baldanza, who once headed Us-based ultra-low-cost carrier Spirit Airlines, had joined its board as vice-chairman.