Deccan-Kingfisher: New entity to have 71 aircraft

Bangalore: The difference in cultures of Vijay Mallya's Kingfisher and Capt G R Gopinath's Air Deccan was said to be the only reason why Gopinath had rejected a merger. Mallya too later accepted this view and came up with the idea of investing in Air Deccan.
The low-cost carrier connects 65 destinations and makes 380 flights a day, while Kingfisher operates 30 aircraft serving 29 destinations. The new entity will have over 71 aircraft.
Paid up capital of Air Deccan has increased to Rs 135 crore, from Rs 100 crore. With UB coming on board, new entity will see some changes in the top leadership. Gopinath will be the executive chairman of the new entity, while Mallya will be the vice chairman.
"The new board will have equal number of investors and we will jointly appoint six independent directors. We will also have a new CEO and a COO appointed shortly. Ramki Sundaram, the CFO of Air Deccan, will serve as the officiating CEO with immediate effect," added Gopinath.
01/06/07 Times of India

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Categories: Air Deccan Jun 2007, Kingfisher Jun 2007