Report: Air Deccan promoters not to offload stake to UB Holdings, will raise fares
26 Jun 2007
The lock-in period for the stake held by SL Ladhani and his family members ended on June 2.
A Thomson Financial News (TFN) report quotes Capt Gopinath as saying that the company may soon raise fares by about Rs600-1,000. Capt Gopinath was speaking to TFN after the company's shareholder meeting.
According to the report, Gopinath also said that the low cost carrier's maiden international flight would be to the Middle East, followed by Singapore and Bangkok.
Air Deccan completes five year of service as a carrier in 2008, when as per existing industry rules in the country, it can grow out of its domestic carrier status and begin international operations.
Deccan Aviation had sold a 26 per cent stake to UB Group company, Kingfisher Airlines, on May 31.
Together, the Kingfisher-Air Deccan combine have the largest fleet, route network and market share in India with 71 aircraft, 70 destinations and a 33 per cent market share.