KINGFISHER AND AIR DECCAN MERGER PDF

Mergers are called amalgamations, while Takeovers are acquisition of a part of equity capital of a company that enables the acquirer to exercise control over the affairs of the company. Aviation consolidation looming in India : Outlook , Report released, March 7, , accessed on January 10, www. Media center, 23 February, accessed on January 5, www. User Username. Remember me. Notifications View Subscribe.

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MUMBAI Reuters - Deccan Aviation Ltd will merge the scheduled airline operations of unlisted Kingfisher Airlines, to create one of the biggest air carriers in the country and pave the way for the latter to fly overseas. R Gopinath and the UB group, Deccan said. The combined entity will operate the two brands — Deccan, a low-cost airline, and Kingfisher, a full service carrier, Nedungadi said. The legal process will take anywhere between months.

The merger was recommended by consultancy firm Accenture and the merger methodology will be suggested by consultants KPMG and Dalal and Shah. The two airlines have a combined loss of about 20 billion rupees and this can be set off against future profits. Nedungadi said the maintenance and engineering divisions will remain with the combined airline for now.

UB group will also look at rationalising capital expenditure. The two airlines, which control more than a quarter of the market, have ordered more than Airbus planes. Deccan was started in and will be eligible to offer overseas flights by mid UB group chairman Vijay Mallya will be the chairman and chief executive of the merged entity and Gopinath its vice-chairman, Deccan said in the stament.

Deccan shares, which hit a high of rupees on the news, were trading 2. Discover Thomson Reuters. Directory of sites. United States. Business News. Deccan Aviation Ltd will merge the scheduled airline operations of unlisted Kingfisher Airlines, to create one of the biggest air carriers in the country and pave the way for the latter to fly overseas.

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Kingfisher to merge with Air Deccan

This story is from June 1, Mallya said he could come in as an investor in Air Deccan. Talks began a week ago, according to Gopinath, and the deal was finally struck at 4. Mallya's UB Holdings will board Deccan as controlling shareholder.

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The inside story of Vijay Mallya's tumble: He bought Deccan with eyes closed

Vijay Mallya bought Air Deccan with his eyes closed. His team never went through the books of the loss making Air Deccan before Mallya agreed to buy it for a total consideration of Rs crore in At least that is what the book, called "The Vijay Mallya story" suggests. Written by senior journalist K Giriprakash, the book also speaks of how Mallya rushed into the airline business with Kingfisher Airlines, despite his close associates warning against the move. Kingfisher was to be a gift to son Siddharth Mallya on his eighteenth birthday on May 7, And no one - not lenders who were skeptical, not other airline veterans nor close associates - would dissaude Mallya senior from taking the plunge. There are some hilarious instances, some which reveal shocking inattention to detail and still some others which show why Vijay Mallya was never going to succeed in the airline business.

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Deccan-Kingfisher combine to look at share sale

MUMBAI Reuters - Deccan Aviation Ltd will merge the scheduled airline operations of unlisted Kingfisher Airlines, to create one of the biggest air carriers in the country and pave the way for the latter to fly overseas. R Gopinath and the UB group, Deccan said. The combined entity will operate the two brands — Deccan, a low-cost airline, and Kingfisher, a full service carrier, Nedungadi said. The legal process will take anywhere between months.

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Kingfisher buys control of Air Deccan

The merger will create the largest player in the domestic aviation market and pave the way for Vijay Mallya to fly his Kingfisher Airlines to overseas destinations. Deccan Aviation will subsequently be renamed Kingfisher Airlines. Both the airlines are in the red. While Deccan Aviation reported a loss of Rs crore for the year ended June 30, , Kingfisher Airlines had a loss of Rs crore on its books for the year ended March 31, The new firm will operate two separate brands — Deccan and Kingfisher — and will retain their identities of being a low-cost carrier and a full-service airline, respectively.

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