Home Economy Kingfisher-Deccan to raise $300 mn in two months

Kingfisher-Deccan to raise $300 mn in two months


Mumbai : The merged entity of Kingfisher Airlines and Deccan Aviation Ltd plans to raise $300 million through sale of shares to finance its immediate expansion needs.

According to Anand Ramachardran, vice-president (finance) of Deccan Aviation, the sales of shares would be completed in two months.

“At the present moment, we are in talks to appoint a suitable merchant banker for the share sale by the end of this month,” Ramachandran told IANS at South Asia Aviation Finance Conference held in Mumbai Wednesday.

The merger is expected to be completed by April this year.

Deccan Aviation has already filed an initial application with the regulator to fly on international routes, he said.

International operations are slated to begin only in August 2008, when Air Deccan completes five years of operations, the government-stipulated period for airlines to fly overseas.