After being in the skies for 15 years, GoAir has rebranded itself as ‘Go First’ as the airline focuses on ultra-low-cost business model amid the aviation industry grappling with pandemic headwinds. The announcement on May 13 also comes amid reports that the airline was preparing for an initial share sale to raise funds for its ambitious expansion plans. The Go First as ULCC (ultra-low-cost carrier) would operate single aircraft type across its fleet, which currently has both Airbus A320 and A320Neos (new engine option) planes in operation, it said in a said.
With a 7.8 market share percent in March, the city-based airline breached the 10 per cent market share threshold for the first time in June 2014 and barring a few occasions it kept hovering in the sub-10 percent range until the emergence of the pandemic last year.
The airline said that at the heart of the latest revamp is the full embrace of ULCC model and was in the process of transitioning all its operations under this new brand. The development comes against the backdrop of the airlines’ industry battling with lower passenger numbers and travel restrictions due to the second Covid-19 wave.