GO FIRST INDUCTS 49TH AIRBUS A320NEO AIRCRAFT TO ITS FLEET

  

GO FIRST INDUCTS 49^TH AIRBUS A320NEO AIRCRAFT TO ITS FLEET

                                                                                                                  

Mumbai, August 11, 2021: GO FIRST has inducted two Airbus A320neo aircraft to its fleet in the 1^st week of May 2021. GO FIRST has placed firm orders for delivery of 144 Airbus A320neo aircraft as part of its growth plan. Of these, the airline has already taken delivery of 48 Airbus A320neos and the 49^th NEO arrived at New Delhi.

 

Mr Kaushik Khona, Chief Executive Officer, GO FIRST, said, “GO FIRST welcomes 49th A320neos to its fleet. We at GO FIRST, believe that the airline is uniquely placed with its ultra-low cost structure that has always stood us in good stead. GO FIRST has one of the youngest fleet globally – average fleet age of 3.7 years as of February 2021. Besides as of February 10, 2021, 82% of our fleet is predominantly fuel efficient A320neos – which are 17% to 20% more fuel-efficient than A320CEO aircraft with the lightest configuration *.”

 

As an ULCC, GO FIRST is focused towards maintaining low unit costs & operational efficiency and reliability to deliver a superior customer experience in comparison to other ULCCs and Low Cost Carriers (LCCs).

 

GO FIRST had a high aircraft utilization during the fiscal 2020, with an average utilization of 12.9 hours per day with a high load factor of 88.9%*. GO FIRST achieved the best on-time performance among the airlines in India for 15 consecutive months between the period September 2018 to November 2019. GO FIRST also had the least number of cancellations at 0.3% during the fiscal 2021 (as of January 31, 2021). It also had the lowest number of customer complaints at 0.3 per 10,000 customers (as against the industry average of 1.0 per 10,000 customers) during the fiscal 2021 (for the period up to January 31, 2021)*.

 

* Source: CAPA Report (Indian Aviation Market Overview, dated April 26, 2021)

 

About GO FIRST:

Founded as GoAir, GO FIRST, which was recently rebranded from GO AIR, is the aviation foray of 285-year-old Wadia Group that comprises leading brands including 150-year-old Bombay Burmah, 140-year-old Bombay Dyeing, 102-year-old Britannia Ltd., 67-year-old National Peroxide Limited, a nine-year-old Bombay Realty.

 

Disclaimer: Go Airlines (India) Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, an initial public offering of its equity shares (the “Equity Shares”) and has filed a draft red herring prospectus (the “DRHP”) with the Securities and Exchange Board of India (“SEBI”). The DRHP is available on the website of SEBI at www.sebi.gov.in and the respective websites of the Global Coordinators and Book Running Lead Managers at www.icicisecurities.com; www.online.citibank.co.in/rhtm/citigroupglobalscreen1.htm; www.morganstanley.com, respectively.

 

Any potential investor should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the DRHP, including the section titled “Risk Factors”. Potential investors should not rely on the DRHP for any investment decision. These materials are not for publication or distribution, directly or indirectly, in or into the United States (including its territories and possessions, any state of the United States and the District of Columbia). These materials are not an offer of securities for sale into the United States, Canada or Japan. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.