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Go Air has been trying to go public since 2015. The failed attempts show Indian airlines can't rely on bourses to raise funds.
The airline made multiple attempts to launch its IPO in the last seven years. Challenges including the Ukraine-Russia war, surge in Omicron cases, and volatile stocks forced it to push back the listing.
The aviation industry doesn’t fare as well compared to other industries in terms of good returns. Analysts suggest retail investors keep aviation stocks lower in their preferences, as they are less likely to understand its complexities.
Although passenger traffic has hit record highs, jet fuel prices have stabilised, and the rupee's decline has eased, the future course of airlines like Go First remains challenging. According to Acuite, the outlook may be revised to 'stable' in case it registers higher-than-expected growth in revenue.
Predictability of business is rare in aviation, with the external environment throwing up big surprises every now and then. Until that changes, airlines in India have to prove their mettle consistently before asking investors to believe in their story.