The airline is in talks with investment banks such as Enam Financials to manage the public offer. JM Financial, promoted by ace investment banker Nimesh Kampani, is advisor to the airline. However, JM Financial and Enam Financials declined to comment. A GoAir spokesperson said, “As a policy GoAir does not comment on speculative stories.” “This is the right time to raise cash for the airline,” said Amber Dubey, Director, (aerospace and defense), KPMG. 

Airlines had accumulated huge debts on their books and most of them are now looking at cleaning up their balance sheets, recast debt and infuse fresh equity. The aviation sector, which grew by 25 per cent in November this year, is estimated to post a growth between 30-35 per cent in the next quarter, according to aviation analysts. The Wadia Group has revived their fund-raising plan after ineffective attempts to raise money by selling their stake in the airline to equity investors. Consultancy firm Ernst & Young was initially given the mandate. 

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