Wadia group's no-frills carrier Go Airlines on Tuesday said it will acquire eight more aircrafts to increase its fleet to 21 by July 2014 from the existing 13.
The airline, looking to grow at non-metro and regional level, aims to have a fleet of 92 by 2020. India is projected to be the third largest aviation market by 2020.
"We had placed an order for 72 A320 Neo aircrafts at a list price of $100 million (per aircraft) in June 2011, so 72 will come at price list of $7.2 billion," Go Airlines Chief Executive Officer Giorgio De Roni said.
He was in Ahmedabad to announce starting of a GoAir flight from Ahmedabad to Kolkata from February 4, for which a brand new A320 Neo Aircraft would be deployed.
"Eight aircraft shall be added within July 2014. There would be a steep increase in our fleet from 2016 to reach the target of 92 aircraft by 2020," Roni said. "From 2016, we will be adding more than 10 aircraft a year."
As per the figures of Director General of Civil Aviation, the airline had 7.6 per cent market share as on December 2012.
Last year, the company had applied to Ministry of Civil Aviation for a norm-waiver for flying to international destinations.
"We have sought waiver from the existing norm of owning 20 aircraft to get permission to fly to foreign destinations," Roni said, adding that if the waiver was granted, it would evaluate the possibility of starting international flights out of Ahmedabad.
The company is expecting a revenue of around Rs 2,000 crore in 2012-13, against Rs 1,600 crore last year.
GoAir presently operates around 100 flights a day and from February 4, eight additional flights are expected, a company statement said.