Deccan board okays merger with Kingfisher

Deccan Aviation Ltd says its board has approved the merger of the airline business of Kingfisher Airlines Ltd into the company.

Deccan Aviation Ltd said on Thursday its board has approved the merger of the airline business of Kingfisher Airlines Ltd into the company.

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The charter business of Deccan Aviation will be spun off into a separate entity to be jointly owned by Captain Gopinath of Deccan and the UB Group, it said in a statement.

UB group holds 46 percent in Deccan Aviation, of which group firm United Breweries (Holdings) Ltd owns 26 percent. United Breweries (Holdings) has a majority stake in Kingfisher Airlines.

Consultant KPMG and Dalal and Shah have been appointed as independent valuers for the merger.