'Spirited' Mallya luring Gopi into ras leela
The Kingfisher Airlines Board is in a huddle in B'lore. The formal announcement is expected later today.
By INDIATIMES NEWS NETWORK |
NEW DELHI: It is almost official now. Vijay Mallya, the flamboyant aviation tycoon is understood to have clinched the Air Deccan deal. Mallya reportedly has picked up 26 per cent stake from a major shareholder. This would give him a foothold into Air Deccan - India's leading low-cost airline.
The Kingfisher Airlines Board is in a huddle in Bangalore to decide the way forward. The formal announcement is expected sometime later today.
According to the present scheme of things, Captain GR Gopinath, CEO of Air Deccan, will be retained as the chairman emeritus. Mallya will take control of the overall management of the airline.
The 26 per cent acquisition by Mallya will trigger the open-offer option through which the spirited-tycoon would very well be working towards hostile takeover. According to reports, Captain GR Gopinath, CEO of Air Deccan, is putting up a stiff resistance against the takeover bid.
After the takeover, Kingfisher Airlines will continue as premium service while the Air Deccan brand will be retained as a low-cost option for the airline.
In all likelihood, Air Deccan will be retained as a subsidiary of Kingfisher Airlines.
The Kingfisher Airlines Board is in a huddle in Bangalore to decide the way forward. The formal announcement is expected sometime later today.
According to the present scheme of things, Captain GR Gopinath, CEO of Air Deccan, will be retained as the chairman emeritus. Mallya will take control of the overall management of the airline.
The 26 per cent acquisition by Mallya will trigger the open-offer option through which the spirited-tycoon would very well be working towards hostile takeover. According to reports, Captain GR Gopinath, CEO of Air Deccan, is putting up a stiff resistance against the takeover bid.
After the takeover, Kingfisher Airlines will continue as premium service while the Air Deccan brand will be retained as a low-cost option for the airline.
In all likelihood, Air Deccan will be retained as a subsidiary of Kingfisher Airlines.
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