A year to remember for Mallya

Bangalore: The year 2007 will perhaps go down as one of the best for the Vijay Mallya-owned UB Group.
He was able to acquire companies he set sights on, which made him part of the front page of newspapers throughout the year. The year started off with the acquisition of Scotch maker Whyte & Mackay for £595 million.
The big one was of course the part acquisition of Deccan Aviation after days of speculation.
Mr Mallya, according to analysts, clearly saw a growing threat from Deccan which was fast expanding its network as well as its fleet. His only option was to acquire the company before others could but the entire process of merging his airline with Deccan Aviation was carried out with kid gloves.
The UB Group has enough debt on its balance sheet and so are the combined losses of both the airlines. The tough part, in fact, starts now and remains to be seen how the brains trust of the UB Group plans to achieve the financial milestones one after another.
28/12/07 Business Line

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Categories: Kingfisher Dec 2007, Simplifly Deccan Dec 2007