Amid Covid clouds, Go Airlines expect near term performance to be ‘significantly’ different from past
As it prepares to be a publicly-traded company amid the pandemic gloom looming large over the aviation industry, Go Airlines expects its short-to-medium term future performance to be significantly different from the past performance. The 15-year-old budget airline, promoted by the Wadia-group, has filed preliminary papers for a Rs 3,600-crore initial share sale and the proceeds will be utilised primarily for repaying debt.
In its Draft Red Herring Prospectus (DRHP), Go Airlines (India) Ltd said the aviation industry faces significant business challenges as a result of the COVID-19 pandemic’s effects and that there has been a “sudden and significant decline” in revenues and profitability from late February 2020.
