Mumbai-based low-cost airline GoAir is set to increase its existing fleet size in the next five years staring from 2016. The move will help the airline in expanding operations and increase the frequency of its flights on the existing routes in the domestic market.
The Wadia group owned airline, which currently has 20 aircraft, will start receiving 72 A320 Neo aircraft from the Airbus by 2020.
“Management believes time is now ripe to switch gears with things looking much better for the sector. The airline will start operations on international routes in the upcoming winter schedule starting with the Gulf and Middle-East regions,” said Edelweiss in a report on the company.
GoAir is the only airline apart from Indigo to have made profits in the last five years.
The market share of the low cost airline increased from 4.1% in FY 08 to 8.4% till October in the current fiscal.According to Edelweiss, the airline is likely to see a compound annual general growth rate CAGR of 39% by 2020.
19/12/15 The Financial Express
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The Wadia group owned airline, which currently has 20 aircraft, will start receiving 72 A320 Neo aircraft from the Airbus by 2020.
“Management believes time is now ripe to switch gears with things looking much better for the sector. The airline will start operations on international routes in the upcoming winter schedule starting with the Gulf and Middle-East regions,” said Edelweiss in a report on the company.
GoAir is the only airline apart from Indigo to have made profits in the last five years.
The market share of the low cost airline increased from 4.1% in FY 08 to 8.4% till October in the current fiscal.According to Edelweiss, the airline is likely to see a compound annual general growth rate CAGR of 39% by 2020.
19/12/15 The Financial Express
