1 June 2008 to be cut-off date for Kingfisher-Deccan merger
21 Apr 2008
Bangalore: The merger of Kingfisher Airlines and Deccan Aviation was finalised at a meeting of shareholders of both the aviation companies in Bangalore, in accordance with the directions of the Karnataka High Court.
An announcement later said that 1 June 2008 will be the official cut-off date for the merger.
Post-merger, the new airline, designated Kingfisher Airlines Ltd, will become India's single largest carrier with a market share of 30 per cent, about eight per cent more than Jet Airways. The name Deccan Aviation will be extinguished as the carriers will merge into the new entity Kingfisher Airlines Ltd.
The shareholders meetings of the two companies, and the meetings of the secured and unsecured creditors were held in Bangalore as per the orders of the Karnataka High Court. All resolutions were passed unanimously and the results of the ballot will be posted on the notice boards of the two companies.