Deccan may hive off its aviation chartering business

Bangalore: Deccan Aviation Limited, in which Vijay Mallya's UB group has picked up 46 per cent stake, may hive off its aviation chartering business into a separate entity.
Deccan sources told PTI that the board had initiated discussions in this regard. A final decision would be taken later.
In 1997, the company started its journey by starting helicopter chartering. At the moment, the company has 13 helicopters and two business jets for chartering services.
The source said that the aviation chartering business generated a revenue of Rs 70 crore in the last financial year.
"This is growing at a decent pace", they said.
Deccan plans to expand the aviation chartering business to tap the huge potential which exists in the areas of helicopter tourism, offshore oil explorations, geophysical mineral and power line survey.
Sources said the company was also talking with the West Bengal government for offering helicopter chartering services.
03/12/07 PTI/Daily News & Analysis

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Categories: Simplifly Deccan Dec 2007