Deccan plans to spin off helicopter business

Bangalore: Deccan Aviation Ltd, which operates India’s biggest low-fare airline, plans to turn its helicopter business into a separate company and raise money to expand the unit, md GR Gopinath said.
The Bangalore, India-based company will sell a stake to private investors in the proposed helicopter company and later consider an initial public offering, Gopinath said in an interview in Bangalore on Thursday. The airline has begun preliminary work on the proposal, Gopinath said. Kingfisher Airlines Ltd and other Indian companies are starting helicopter services as corporate demand gains in the world’s second-fastest growing major economy and private wealth boosts leisure travel.
Goldman Sachs Group Inc and BNP Paribas are among those investing in Indian airlines as demand for air travel rises 25% annually.
10/02/07 Bloomberg/Financial Express

To Read the News in full at Source, Click the Headline

Categories: air deccan feb 2007, New feb 2007