The carrier is expected to outline plans to expand its workforce by as much as 50 per cent and begin flying to more destinations in direct competition with other low-cost operators such as Ryanair, easyJet and Debonair.
Barbara Cassini, Go's American-born chief executive, has set herself a target of breaking even within two years and making a profit by the end of the third. Industry observers believe that the explosive growth in the low-cost sector of the market, as passengers trade down, has encouraged Go to bring forward its expansion plans.
The airline currently operates from Stansted to six destinations - Rome, Milan, Copenhagen, Lisbon, Bologna and Edinburgh - with a fleet of Boeing 737s and 200 staff. Its lowest return fare is pounds 100 on European destinations and pounds 70 to Edinburgh.
It faces low-cost competition on only two of these routes - Debonair flys to Rome and easyJet operates an Edinburgh service. But rivals believe it is poised to unveil plans to launch more services to Italy, Scandinavia and Germany in head-on competition.
Ryanair flys from Stansted to Pisa, Venice and Rimini in Italy and Stockholm, Oslo and Malmo in Scandinavia - all destinations that could be attractive to Go. Go refused to comment on its expansion plans ahead of today's announcement.
But Tim Jeans, Ryanair's sales and marketing director, said: "There is clearly a big push in the low-fare sector of the market and Go would not want to miss out on the wave."
Its rivals, easyJet and Debonair, failed in a High Court attempt to block the launch of Go in May, but they have been allowed to bring a case claiming that the airline represents unfair competition because it is being underwritten by BA.
A Go spokesman denied that it was being unfairly subsidised, saying BA had given it a one-off payment of pounds 25m and no more.
Meanwhile Ryanair announced the launch of a service from Glasgow to Beauvais, near Paris, the only direct flight between the two cities.