Go First (formerly Go Air) continues to lose money, with the biggest financial loss in fiscal years 2022.
The Wadia Group, which owns the airline, has begun talks with strategic partners to sell a significant share of the airline or get out of the airline business according the Financial Times.
The airline is struggling with aircraft that are grounded due to supply chain issues.
Go First is the aviation foray of India’s Wadia Group, which is a part of one of the oldest conglomerates in India with presence in diversified industries. The Wadia group comprises leading brands including 150-year-old The Bombay Burmah Trading Corporation Limited, 140-year-old Bombay Dyeing and Manufacturing Company Limited, 102-year-old Britannia Limited, 66-year-old National Peroxide Limited, the decade old Wadia Reality Private Limited and many others.
Go First is a low-cost carrier (LCC) that aims to make air travel affordable and accessible to the masses. Go First was incorporated on April 29, 2004, and commenced flight operations in November 2005 with its inaugural flight from Mumbai to Ahmedabad.
Go First fleet comprises 59 aircraft, of which 54 aircraft are A320neo aircraft, and 5 are A320ceo models.
Update: The airline will receive a cash infusion: