Get ready for fare hike from Air Deccan

New Delhi: Vijay Mallya is awaiting regulatory approval from SEBI to complete the open offer for another 20 per cent in Air Decaan. This will take Kingfisher's stake in India’s first low cost airline to 46 per cent. The King of Good Times says he is optimistic about getting a thumbs up.
“There are many others who want to sell. I cannot discuss this with anyone during the pendancy of the open offer,” says Mallya.
This suits Deccan fine. Infact the company is considering another fare hike of close to Rs 500-1000 to tide over the tough times to the good times.
We are looking at maximum Rs 500 to Rs 1000 price increase,” says Chairman, Air Deccan, Captain Gopinath.
Even as the marriage at the center is falling apart, Mallya says his honeymoon with Deccan is far from over. Captain Gopinath will remain Chairman even if Mallya hikes his stake. So while Deccan will continue to be a low cost carrier it may soon get a makeover.
22/08/07 Abhijit Neogi/CNN-IBN

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Categories: Air Deccan Aug 2007, Kingfisher Aug 2007