Kingfisher-Deccan merger to be finalised by June 2008

Bangalore: The merger of Kingfisher Airways and Deccan Aviation was announced at the share holders meeting of both aviation companies held recently. The official cut-off date for the merger is June 1, 2008. After the merger Kingfisher will become India's single largest airline with a market share of 30 per cent, which is eight per cent ahead of Jet Airways. However, the name Deccan Aviation will be changed to Kingfisher Airlines Ltd.
The shareholders meetings of the two companies and meetings of the secured and unsecured creditors were held in Bangalore as per the orders of the Karnataka High Court. All resolutions were passed unanimously and the results of the ballot will be posted on the notice boards of the two companies.
19/04/08 Lakshmi Vishwanath/TravelBizMonitor

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Categories: Deccan Apr 2008, Kingfisher Apr 2008