Indian airline GoAir is a low-cost carrier based in Mumbai that operates a fleet of 51 Airbus A320 aircraft, holding roughly 8.4 percent of market share making it the fifth largest airline in India.
The airline is currently held by the Wadia family and appears to be seeking an IPO. This isn’t the first-time rumors have swirled around this, but reports say that plans have been revived with the airline inviting investment banks and lawyers to pitch for the job.
While the airline has yet to officially announce their intentions, it is seeming more likely that an IPO is going to happen. The airline plans to add an aircraft to its fleet every month through the financial year and has announced several new hires in key leadership positions. Among the hires are a chief financial officer, a vice president of international operations, heads of network planning, revenue management, and flight operations.
The new roster of hires is a little unusual given that it is filling a number of vacancies that are usually critical to an airline. This comes after many senior executives left the company within a year, including the CEO who left after nine months on the job citing personal matters.
Ben Baldanza, the legendary former CEO of Spirit Airlines, even was invited to join the board as opposed to just the consulting services he has been providing.
Insiders report excessive micromanagement from the controlling Wadia family as a key factor in the executive departures.
18/08/19 Hemal Gosai/AirlineGeeks
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The airline is currently held by the Wadia family and appears to be seeking an IPO. This isn’t the first-time rumors have swirled around this, but reports say that plans have been revived with the airline inviting investment banks and lawyers to pitch for the job.
While the airline has yet to officially announce their intentions, it is seeming more likely that an IPO is going to happen. The airline plans to add an aircraft to its fleet every month through the financial year and has announced several new hires in key leadership positions. Among the hires are a chief financial officer, a vice president of international operations, heads of network planning, revenue management, and flight operations.
The new roster of hires is a little unusual given that it is filling a number of vacancies that are usually critical to an airline. This comes after many senior executives left the company within a year, including the CEO who left after nine months on the job citing personal matters.
Ben Baldanza, the legendary former CEO of Spirit Airlines, even was invited to join the board as opposed to just the consulting services he has been providing.
Insiders report excessive micromanagement from the controlling Wadia family as a key factor in the executive departures.
18/08/19 Hemal Gosai/AirlineGeeks
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