GoAir likely to go for IPO in the current fiscal

Wadia Group-promoted budget carrier GoAir is planning to go for an initial public offer in the current fiscal, ahead of the scheduled delivery of 72 new Airbus A-320 planes starting April next year.

GoAir would be the second domestic carrier to come out with an IPO after rival IndiGo, which is all set for little over Rs 3,200-crore initial share sale on October 27 amid the season of companies queueing up to tap the capital market.

As of now, only two private domestic carriers -- Jet AirwaysBSE 4.51 % and SpiceJet -- of the four are listed ones.

Sources said GoAir is firming up plans for the IPO in this financial year that ends on March 31, 2016. The airline is likely to file the preliminary papers for the share sale soon, they added.

However, the likely size of the planned IPO could not be ascertained.

When contacted by PTI, 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 also help GoAir in its proposed international operations, which is at present on hold as it does not have 20 aircraft in the fleet, one of the two requisites for domestic carriers for flying abroad.

The carrier currently has only 19 Airbus A320s in the fleet. 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.

The airline, however, deferred the plan in view of the commencement of the delivery of new Airbus A320 neo (new engine option) from April, 2016.

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