GoAir was founded in the year 2005 by Jehangir Wadia, the younger son of eminent Indian industrialist Nusli Wadia. The airline marked the entry into the critical aviation sector for the Wadia Group, an Indian business conglomerate famous for its companies like Bombay Dyeing and Britannia Industries. The Wadia group wholly owns the airline. Jehangir Wadia is also the Managing Director (MD) of the airline. GoAir launched its operations in November 2005 using Airbus A320 aircraft.
Since January 2007, GoAir has been recording an average load factor of 76%. But the airline’s growth has been slow, with other airlines established at the same time such as IndiGo and SpiceJet having overtaken GoAir in terms of market share, fleet size and destinations served as of 2013. However, according to Wadia and Chief Executive Officer (CEO) Wolfgang Prock-Schauer, the slow growth of the airline is a company strategy taken up due to the tough aviation environment in India, as a result of which the focus is on maintaining profitability rather than on capturing market share and increasing the destinations and fleet size.
In April 2012, the airline moved from sixth and last place to fifth in terms of market share due to the financial crisis at Kingfisher Airlines. But following the grounding of Kingfisher Airlines, the airline once again has the lowest market share (8.8%) as of January 2014.
GoAir operates to 22 destinations in India, with over 140 daily flights and approximately 975 weekly flights. Due to the small size of its fleet (19 aircraft), GoAir does not operate any international flights as per the guidelines of the Ministry of Civil Aviation, Government of India, but in 2012 the airline has applied for a waiver regarding the same to the ministry which is yet to be approved.
In June 2011, GoAir placed an order for 72 Airbus A320neo aircraft worth INR.324 billion (US$5.1 billion). Deliveries will begin from 2016, with an induction rate of 12-15 aircraft per year.