India's GoAir (Mumbai International) is once again preparing for an initial public offering (IPO) on the Mumbai stock exchange, reports Live Mint. The low cost carrier put IPO plans on hold at the end of 2016, citing delays in its fleet expansion, as it wanted to reach a critical size before listing publicly.
Chief executive Wolfgang Prock-Schauer said that with American billionaire Warren Buffet getting into aviation business, a positive message has been sent to investors. Buffet recently took large stakes in US-based carriers Delta Air Lines, Southwest Airlines, United Airlines, and American Airlines.
Prock-Schauer has not set a date for the IPO, but says the timing will be decided by the airline's father and son owners, Nusli and Jeh Wadia.
GoAir took delivery of one A320neo in January, bringing its total of the type to five. Deliveries have been delayed due to known problems with the neo's Pratt & Whitney PW1100G powerplants. The airline's A320neo firm order book now stands at 144. The remainder of its fleet comprises nineteen A320s.
