Accenture to look into integration of Kingfisher, Deccan
Kingfisher Airlines Chairman Vijay Mallya said the company has mandated management consulting firm Accenture to study the possibility of integrating operations of the two airlines.
By PTI |
NEW DELHI: Kingfisher Airlines Chairman Vijay Mallya on Tuesday said the company has mandated management consulting firm Accenture to study the possibility of integrating operations of the two airlines.
"We have appointed Accenture to advise on the integration of two airlines. We will take a future course of action after a report from it in the next six weeks," Mallya said on the sidelines of Fortune Global Forum here.
Earlier this year, Mallya's UB Group had acquired 26 per cent stake in low-cost carrier Deccan Aviation for Rs 550 crore. The Group has now scaled up its stake in the budget airline to 46 per cent by buying shares in an open offer.
On overseas operations, Mallya said Air Deccan has sought government approval to fly overseas from next year. The company is looking for a license to start flights to Middle East, South East Asia and the US, he said.
Mallya also said UB Holdings is planning to raise Rs 1,000 crore through qualified institutional placement (QIP) next month. The liquor baron would pick up Rs 720 crore of the QIP to maintain his shareholding in the UB Group.
"We have appointed Accenture to advise on the integration of two airlines. We will take a future course of action after a report from it in the next six weeks," Mallya said on the sidelines of Fortune Global Forum here.
Earlier this year, Mallya's UB Group had acquired 26 per cent stake in low-cost carrier Deccan Aviation for Rs 550 crore. The Group has now scaled up its stake in the budget airline to 46 per cent by buying shares in an open offer.
On overseas operations, Mallya said Air Deccan has sought government approval to fly overseas from next year. The company is looking for a license to start flights to Middle East, South East Asia and the US, he said.
Mallya also said UB Holdings is planning to raise Rs 1,000 crore through qualified institutional placement (QIP) next month. The liquor baron would pick up Rs 720 crore of the QIP to maintain his shareholding in the UB Group.
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