Deccan not to sell more stake to UB Holdings

London: Deccan Aviation chairman GR Gopinath said none of its promoters would sell their stake in its low-cost Air Deccan airline to UB Holdings, should it fail to mop up the required 20 pct stake from the open market.
This has put to rest media speculation that the 11.38 pct stake held by SL Ladhani and his family would be sold to UB Holdings.
The lock-in period for Ladhani and his family members ended on June 2.
Speaking to Thomson Financial News after the company's shareholder meeting, Gopinath said the company may soon raise air fares by about 600-1,000 rupees, and the Indian airliner's maiden international flight will be to the Middle East, followed by Singapore and Bangkok. Air Deccan hopes to begin international operations by 2008.
Deccan Aviation had sold a 26 pct stake to UB Group company Kingfisher Airlines on May 31.
26/06/07 Hemscott, UK

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Categories: Air Deccan Jun 2007, Kingfisher Jun 2007