Aviation stocks trade mixed as GoAir files DRHP for Rs 3,600-crore IPO

The airline rebranded itself as Go First on May 13 as part of the preparations for the listing amid a rocky period for the aviation sector due to the coornavirus pandemic.

May 14, 2021 / 09:49 AM IST
(Representative image)

(Representative image)

 
 
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Aviation stocks were trading mixed on May 14 after Wadia group-owned airline GoAir filled DRHP for Rs 3,600 crore initial public offering (IPO).

Wadia group-owned GoAir has filed the Draft Red Herring Prospectus (DRHP) for its initial public offering (IPO).

On May 13, the airline rebranded itself as Go First, as part of the preparations for the listing amid a rocky period for the aviation sector due to the pandemic.

The airline commenced operations in 2005 and has just over 50 aircraft in its fleet, even as rival IndiGo that started a year later is over five times the size.

The airline is likely to be the first all-Neo airline in the country. This will give the airline a huge boost for the same reasons for which IndiGo is being hailed for phasing out the older planes. The airline will be spared costly maintenance and checks of its older aircraft.

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With the problems of Pratt & Whitney engines resolved, and the A320neo improving its dispatch reliability, the airline is poised for growth, say experts.

At 0930 hours, SpiceJet was quoting at Rs 70.70, down Rs 1.15, or 1.60 percent, Jet Airways was quoting at Rs 88.70, down Rs 0.50, or 0.56 percent and Interglobe Aviation, the IndiGo owner, was quoting at Rs 1,698.00, up Rs 17.25, or 1.03 percent on the BSE.
Moneycontrol News
first published: May 14, 2021 09:49 am

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