NEW DELHI: With its IPO possibly delayed by a few months, struggling airline GoAir may have to look at alternative routes to raise funds. The airline’s net balance was almost negligible as of April 2021 and it had a debt of Rs 2,956 crore. “This could make things difficult as it was relying heavily on the IPO proceedings to service its borrowings,” said an aviation sector analyst, requesting anonymity.
He added that like other airlines, GoAir was gasping for funds to survive the pandemic. “While IndiGo, despite being cash rich, is raising Rs 3,000 crore as part of a qualified institutional placement and SpiceJet is having a board meeting on Wednesday to discuss fundraising plans, GoAir will have to find other ways as time is running out,” he said.
