GO AIRLINES (INDIA) Ltd.

BY – NITESH KUMAR , PRACHI GARG,

PRAGYA YADAV , SHIVENDRA PRATAP SINGH,
NAMAN AGARWAL , NACHIKETA ROUT
 HIGHLIGHTS

• FOUNDED BY JEH WADIA IN 2005

• OWNED BY WADIA GROUP
• the fifth largest airline in India with an 8.4%
passenger market share as of 2017

JEH WADIA CEO KAUSHIK KHONA

MANAGERIAL DIRECTOR
SINCE 2005
(CURRENT CEO)

CURRENT DIRECTORS
Mr. Nusli Neville Wadia - Chairman & Non-Executive Director
Mr. Ness Nusli Wadia - Non - Executive and Non-Independent Director
Mr. Ben Baldanza - Vice Chairman, Non - Executive and Non-Independent Director
Dr. Vijay Kelkar - Independent Director
Mr. Keki Manchersha Elavia - Independent Director
Mr. Varun Berry - Independent Director
Mr. Vinesh Kumar Jairath - Independent Director
Ms. Tanya A. Dubash - Non-Executive and Independent Director
Dr. Yashwantrao Shankarrao Patil Thorat - Non-Executive and Independent Director
REGISTERED OFFICE LISTING NSE/BSE
DETAILS AND SHARE PRICE

GO AIRLINES (INDIA)
EMAIL- secretarial@flygofirst.com

REGISTERED ADDRESS- C/O,

BRITANIA INDUSTRIES LIMITED, A-
33, LAWRENCE ROAD INDUSTRIAL
AREA, NEW DELHI DL 110035 IN
 COMPANY DETAILS

Go First was incorporated on April 29, 2004, and commenced flight operations in November 2005 with its
inaugural flight from Mumbai to Ahmedabad.

PRODUCT MIX COUNTRIES THEY OPERATE IN: 10

Ultra low cost airline INDIA
Lounge KUWAIT
Car rental BANGLADESH
MALDIVES
Smart café SAUDI ARABIA
Priority check-in OMAN
Experiences SRI LANKA
Hotel SINGAPORE
UNITED ARAB EMIRATES
Pre-flight covid test THAILAND
International sim
DETAILS ABOUT THE IPO
3600 cr

279 cr 255 cr
2016 cr
First announced IPO on 8th June Replacement of Payment to IOC
Debt repayment
• To raise 3600 cr. LoC ltd.

• 28th June, SEBI puts the IPO on hold “kept in abeyance”. No specific reason mentioned by SEBI.

• Speculation: Because of a pending enquiry against Bombay Dyeing Manufacturing Company ltd.
and its promotors, the Wadia Group, who owns a 73% stake in Go First.
 BUSINESS MODEL

GO XTRAS

• LOUNGE – RELAX AND REJUVENATE ,FREE WIFI, BUFFET AND MORE.

• CAR RENTAL- Eco Europcar to offer chauffeur-driven Car Rental services

• SMART CAFÉ – BOOK MEALS AHEAD OF TIME FOR FLIGHTS

• PRIORITY CHECK IN – CHECK FIRST AT RS400

• HOTELS - hotels in more than 120,000 destinations worldwide

• INTERNATIONAL SIM – STAY CONNECTED ABROAD.

 • PRICE
One of the cheaper domestic fares in INDIA.

• PLACE

MARKETI Travel to almost every major destination in INDIA.

NG MIX • PROMOTION
Uses tagline FLY SMART to make customers consider various

(4Ps)
factors when booking flights.

• PRODUCT
Facilitates combo purchase of flight and hotel through website.
 INDUSTRY OUTLOOK

1. Reduce prices through disciplined

execution of the ULCC Model.
2. Expand the network in high revenue
markets such as Middle East, South
East Asia.
3. Re-branded the airline to “Go First” as
a mark of renaissance.
4. Targeted towards the growing leisure
and MSME customers.
BALANCE SHEET
P&L
 FINANCIALS
Year ending 31st march 2020

Operating Revenue Over INR 500 cr

EBITDA  716.73 %
Networth  -369.69 %
Debt/Equity Ratio -1.19
Return on Equity N/A
Total Assets  238.78 %
Fixed Assets  6,799.67 %
Current Assets  -21.12 %
Current Liabilities  52.77 %
Trade Receivables  -84.40 %
Trade Payables  -47.29 %
Current Ratio 0.27
 STRENGTH

1. Strong backing by the Promoters

2. LCC segment is ever growing in
India
3. Covers all the major Indian
cities
4. Good branding and marketing in
India
 WEAKNESS
1. Market share is very less as compared to leading players.
2. It has entered into the Indian market later than competition and also has lesser destinations.
3. Razor thin profit margins.
4. Unpredictable fuel prices
5. Extremely susceptible to travel restrictions
 SHOULD WE INVEST
1. Made losses last four financial years
2. Net debt of 7346cr
3. Negative net worth of 1,961 cr.
4. Inventory of 56 aircrafts
5. Order of 98 aircrafts
6. Least number of cancellations at 0.3% during the fiscal 2021
Lowest number of customer complaints at 0.3 per 10,000
customers (as industry average of 1.0 per 10,000 customers)
during the fiscal 2021
7. Increase in domestic market share from 8.8% in fiscal 2018
to 10.8% in the fiscal 2020*.