INDIA BUSINESS WORLD - DECEMBER 16th - DECEMBER 31st
- 2007
DECCAN BOARD APPROVES MERGER WITH KINGFISHER
The Board of Directors of airliner Deccan have given a green signal for its merger with high end Kingfisher Airlines.
Speaking at the end of Board meeting, Deccan Managing Director Capt G R Gopinath said the board discussed and later unanimously accepted the recommendations of the consulting firm Accenture.
The decision was made without any descent, he said.
The Chairman of the UB Group and Kingfisher Airlines chief Vijay Mallya was also present at the board meeting, he said.
It had been decided that Mr Mallya would be the Chairman and CEO of the new entity, Capt Gopinath said.
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