Deccan Aviation’s charter division to be listed separately

Published on Tue, Jan 22, 2008 at 08:38 |  Source : Business Line

Updated at Tue, Jan 22, 2008 at 08:59  

31277 Investors following Kingfisher Air. Share this News with them.
0
0
Share on Tumblr

RELATED NEWS

ALSO READ

Chennai, Jan. 21

Deccan Aviation 's plans for hiving off its charter division into a separate company has not been affected by the Kingfisher Airlines picking up a 46 per cent stake in the company. Deccan Aviation had announced to the stock market in April 2007 about its intention to put the charter services into a separate company. Deccan Aviation's Managing Director, Capt G.R. Gopinath, told Business Line last week that the hive-off plan was very much on.

Deccan Aviation started off as a chartered flight company and, when the aviation industry was opened to the private sector, began the airline. Today, the charter division has nine helicopters and three fixed-wing aircraft. But the company has grown in size, thanks to the airline division.

The charter division earned revenues of about Rs 60 crore against Rs 2,500 crore of the whole company. "This business needs to be given focus and grown separately," Capt Gopinath said, adding that hiving off the charter business and getting the new company listed on the stock exchanges would "unlock shareholder value".

contd on page 2...

  

More on Moneycontrol

Trending News

Business News

How to Root and install Custom Recovery on any Android phone
Forget the IIP: there's free cash oozing out of every pore "Forget the IIP: there's free cash oozing out of every pore "

DLF Says Macro Environment Unfavourable W/High Comm & Labour Inflation

The latest earning numbers FIRST on CNBC-TV18
Videos

Feb 10 2012, 21:39

Tulsian buys steel stocks; negative on sugar, ADAG

- in MARKET OUTLOOK

Feb 10 2012, 21:39

Truck demand sluggish; margins down 80bps: Shriram Trans

- in Results Boardroom

Interviews

Feb 10 2012, 15:43 | Source: CNBC-TV18

Growth in margins sustainable going forward: Shasun Pharma  

Feb 10 2012, 15:35 | Source: CNBC-TV18

Expect Q4 GRMs to be similar to Q3: BPCL  

Subscribe to

Moneycontrol Newsletters

Moneycontrol.com offers you a choice of various sectoral and other newsletters for FREE!

Follow moneycontrol.com