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India’s Deccan and Kingfisher airlines to merge

BANGALORE, India, Dec 20, 2007 (AFP) - India's biggest discount carrier, Deccan, will merge with liquor baron Vijay Mallya's upmarket Kingfisher Airlines to create the nation's biggest domestic airline, officials said.
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The firm formed by the merger next year will keep the name Kingfisher, the flagship beer brand of Mallya's UB Group, officials from the two carriers said after a four-hour meeting late Wednesday.

"The merger will bring about synergies across the board and lower the cost of operating both the airlines," Deccan founder G.

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R. Gopinath told a press conference in this southern Indian city where his airline is based.

A merger would marry two airlines that had seemed unlikely bedfellows, with Gopinath earlier this year likening the flamboyant Mallya to someone from Venus and himself to a Martian who would never be able to do a deal.

That was before he sold a 26 percent stake in June to UB Group, accepting a 5.

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5-billion-rupee (139-million-dollar) lifeline to keep his fleet in the skies as Deccan Aviation reeled under heavy losses.

"Like politics, business is the art of the possible," said Gopinath, a first-generation entrepreneur who founded Deccan in 2003.

Both Deccan and Kingfisher, whi

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