This follows a report by consultancy firm Accenture, which was commissioned to explore the potential areas of synergies between the companies after the acquisition. 

The rebranding of Deccan Aviation, that began after the UB Group acquired 46 per cent stake in the airline, would be completed with the merger. The UB Group board is also reportedly meeting today.  

Analysts said Kingfisher would use Deccan Aviation's permit to fly abroad. The two airlines together will have a fleet strength of 80 aircraft (37 Kingfisher, 43 Deccan) and will fly to 570 destinations and operate in 75 unduplicated destinations. The Accenture report will be presented before the board.  

The firm was appointed four months ago by both airlines to advise on the possibilities of a merger or a reverse merger and to suggest modalities along with a timeline.  

It was to also study the implication of the merger on the bottomlines of the companies. Deccan will also hold its annual general meeting after the board meets. Sources close to Vijaya Mallya said the merger, as also suggested by the report, was the most likely step forward for the two airlines.