Deccan, Kingfisher merger gets go-ahead

Deccan Aviation Ltd said on Thursday its board has approved the merger of the airline business of Kingfisher Airlines Ltd into the company.

The charter business of Deccan Aviation will be spun off into a separate entity to be jointly owned by Captain Gopinath of Deccan and the UB Group, it said in a statement.

UB group holds 46 per cent in Deccan Aviation, of which group firm United Breweries Holdings Ltd owns 26 per cent. United Breweries Holdings has a majority stake in Kingfisher Airlines.

Consultant KPMG and Dalal and Shah have been appointed as independent valuers for the merger.