Ryan eyes $100m Air Deccan stake

Ryanair founder Tony Ryan's investment vehicle Irelandia is thought to be looking at buying a 26 per cent stake in India's largest low-cost carrier, Air Deccan, for around $100m.
It is understood that the Ryan family's Irelandia, and Texas Pacific Group have both conducted due diligence over the last month.
However, local private equity player Reliance Anil Ambani Group already holds a 5 per cent stake in Air Deccan and it is said to have submitted a serious bid already. Indian investment bank Edelweiss Capital is handling the sale of the minority stake for the airline.
Ryan's Irelandia already owns a 16 per cent stake in fast growing Singapore airline Tiger Airways, which recently announced that it would set up another carrier in Australia. The Ryan family has also ploughed large sums into setting up a low-cost Mexican airline Viva Aerobus, which commenced services recently.
22/04/07 Nick Webb/Unison.ie, Ireland

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

Categories: Air Deccan Apr 2007, Foreign Apr 2007