Wadia group-owned GoAir has been rebranded as Go First as the budget airline is planning for an IPO and expansion after a challenging period since the beginning of the COVID-19 pandemic last year.
The airline wants to depict itself as an ultra-low-cost airline and expects it to give a competitive advantage over its peers.
“GoAir is now Go First! Whether it's your safety, your time, or your comfort - at Go First you always come first! Experience the benefits of the next-gen fleet, at ultra-low-cost fares, so your travel plans are never hampered. We hope to see you onboard soon!” GoAir tweeted.
GoAir is going to bear a huge cost following the rebranding. The new aircraft would be rebranded and the existing one may have to undergo the changes. Presently, the airline has a fleet of over 50 aircraft. Replacement of old safety cards with rebranded ones placed in each seat pocket is a mammoth task since these aircraft come with 186 seats, adding up to about 10,000 such cards for the entire fleet.
An ultra-low-cost carrier (ULCC) is different from a low-cost carrier (LCC) as they have different business models with unbundled fares which result in cheaper ticket prices. At ULCC, passengers have to pay extra for baggage, while a selection of seats and food are subject to an additional fee. ULCCs also have fewer amenities than simple low-cost carriers.
The domestic budget flight operator is planning to go public and has filed the Draft Red Herring Prospectus (DRHP) for its initial public offering (IPO) to raise Rs 3,600 crore via a fresh issue of shares.