Gopinath says it’s all for the best

New Delhi: G R Gopinath, the man who made it possible for countless Indians to fly, has stepped down as the promoter of Deccan Aviation.
Letting go an airline he created from scratch hurts?
If there were lumps in the throat, Gopinath did not show, but there were streaks talking to DNA Money, but chose to put up a brave front.
“Yes, I started Deccan and took it to where it is today single handedly but the decision to step down as a promoter was done in the company’s best interests. I have said earlier that letting go of Deccan is like giving away one’s daughter and obviously I feel sad……but the reality was that the Deccan infrastructure was unable to support growth and for the merger (with Vijay Mallya’s Kingfisher airline) to get completed my stepping down was necessary.”
According to the initial plan, Gopinath was to have become the vice-chairman of the merged entity and Mallya was to hold the chairman’s post.
“For the helicopter business of Deccan, we had decided that I will be the chairman and Mallya the vice-chairman … but things changed midway and I realised that holding on to Deccan wasn’t such a good idea … Lawyers approached me a few days back asking if I could step down as a promoter since the two promoters (myself and Mallya) seeking a merger would attract “acting in concert” clause. I agreed and this has been done in the best interests of Deccan.”
19/04/08 Sindhu Bhattacharya/Daily News & Analysis

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Categories: Deccan Apr 2008, Kingfisher Apr 2008