Kingfisher Airlines, Deccan Merger Approved

Deccan Aviation and Kingfisher Airlines have decided to merge both the companies in to a single entity to cut operational costs and increase profitability. Both the company’s boards have approved the merger,valuation and merger swap ratio is to be worked out by the global accounting firm KPMG. The combined entity would be known under the name of Kingfisher where Deccan would offer low cost services to customers and Kingfisher would offer premium services to the customers.

Air Deccan will continue to be listed incorporating the businesses of both Kingfisher Airlines and Deccan itself but the listed entity’s name will be changed to Kingfisher Airlines in which Mallya would act as the Chairman and CEO, Captain G R Gopinath as the Vice-Chairman.

More information regarding the Kingfisher and Deccan Merger Ratio and Record date will be known soon.