The board of Deccan Aviation, India's largest budget carrier, will meet in Bangalore on Wednesday to consider the merger with the UB Group's Kingfisher Airlines, which bought a stake in the carrier recently.
Merged entity to be named Kingfisher Airlines.
After strong statements to the contrary, UB Group chairman Vijay Mallya on Tuesday said that he was considering the merger of Kingfisher Airlines with budget carrier Simplifly Deccan (earlier Air Deccan), in which the former bought a 26 per cent stake in June. Mallya said Kingfisher had asked consulting firm Accenture to study the integration of the two airlines, including the possibility of a merger.
Shikhar Dhawan's fighting half-century went in vain as Kolkata Knight Riders produced a clinical performance to beat a struggling Deccan Chargers by 20 runs in an Indian Premier League match in Hyderabad on Tuesday.
Discussions have been initiated to sell the company to a Mumbai-headquartered, highly diversified, multi-billion dollar corporate group which has interests in retail and logistics, among various others.
At least 10 firms, including a few media houses and some of the leading private equity funds, are said to be in the race to acquire a majority stake in Hyderabad's Deccan Chargers, the Indian Premier League cricket team currently owned by the Deccan Chronicle group.
Although defending champions Chennai Super Kings are a formidable force at home, Deccan Chargers can topple them if they combine their batting and bowling units effectively, feels the Chargers vice-captain Cameron White.
Deccan is planning to travel international routes from August from three destinations in India.
UltraTech Cement's announcement that it would snap up a controlling stake in India Cements may only be a sign of more to come. In the wake of one of the country's most expensive deals in recent times, cement majors may slug it out to add smaller firms from the region to their portfolio. UltraTech's buy is the latest in the four deals the southern market has seen in less than a year, with Adani Cement being the other buyer.
Royal Challengers Bangalore ended their campaign on a high, crushing Deccan Chargers by nine wickets in the third place play-off match in the Indian Premier League in Mumbai, on Saturday. Chasing 83 for victory, Bangalore cruised to 86 for one in 13.5 overs and won with 37 deliveries to spare to seal a place in the Champions League Twenty20 tournament.
With the inauguration of a direct flight from Delhi to Srinagar, Deccan Aviation, which operates Air Deccan, on Tuesday announced that the low-cost airline would concentrate on increasing the connectivity within Jammu and Kashmir.
Images from the Indian Premier League match between Deccan Chargers and Rajasthan Royals in Nagpur, on Monday.
The IMD issued a 'red alert' for Pune district and asked people to take precautions.
Angelo Mathews's superb all-round performance saw Kolkata Knight Riders stun defending champions Deccan Chargers by 11 runs in the opening match of the third season of the Indian Premier League, at the DY Patil Stadium in Mumbai, on Friday. Mathews hit an unbeaten half-century and then took one wicket for 27 runs in four overs as Deccan Chargers were restricted to just 150 for seven in their 20 overs in reply to Kolkata's 161 for four.
The Deccan Chronicle Holdings Limited (DCHL) on Thursday issued a tender notice inviting bids from prospective buyers for its IPL franchisee Deccan Chargers, which is currently in a financial mess.
The transaction, which values Air Deccan at Rs 155 a share, would be through allotment of non-preferential shares to UB
A superb all-round show by Andrew Symonds helped Deccan Chargers beat Kings XI Punjab by six runs in the Indian Premier League match at the Barabati stadium, in Cuttack, on Friday.
A stock bonanza awaits Adam Gilchrist and his Deccan Chargers teammates who fashioned a great turnaround in the IPL franchise team's fortunes to win the title in the second edition of the Twenty20 League, in South Africa in April-May. 'As and when we go public we will set aside a portion of the stock for the players,' Deccan Chargers chairman V Shankar said.
Kolkata Knight Riders jumped to third place in the points table after recording a five-wicket win over Deccan Chargers in a rain-affected low-scoring Indian Premier League match in Cuttack.
Adam Gilchrist scored a whirlwind 85 off 35 deliveries as Deccan Chargers beat Delhi Daredevils by six wickets in the first semi-final of the Indian Premier League on Friday.
Ryan Harris was instrumental in Australia's clinical show in New Zealand almost three weeks back. Three weeks later, he carried his bowling form on to the Indian Premier League, helping Deccan Changers a convincing six-wicket win against Chennai Super Kings.
Deccan Chronicle holds 80 per cent stake in Deccan Chargers and had paid $107 million for the IPL franchise.
Their survival in the Indian Premier League at stake, former champions Deccan Chargers face an uphill battle as they take on a spirited Kolkata Knight Riders in Hyderabad on Tuesday.
Kingfisher and Deccan swap of shares will be finalised by April, upon Sebi's approval.
Several states are identifying greenfield or unutilised projects for low-cost airport.
Deccan Gold Mines on Monday said it has signed an agreement with diamond mining firm De Beers India, which will allow De Beers to mine diamonds in Deccan.
Air Deccan, which was renamed Simplifly Deccan after the merger with Kingfisher last year, is now called Kingfisher Red. According to the data released by the civil aviation ministry on Thursday, IndiGo's market share is 10.3 per cent, while that of Air Deccan trailed behind at 10.2 per cent.
Languishing at the bottom of the points table, Deccan Chargers and Pune Warriors would be playing for pride when they square off in an Indian Premier League match in Hyderabad on Tuesday.
Battling poor form and placed in the bottom heap of the points table, former champions Deccan Chargers and Delhi Daredevils square off in what promises to be an evenly-matched Indian Premier League contest at the Rajiv Gandhi International stadium in Hyderabad on Thursday.
Air Deccan, which was forced to sell 26 per cent to Kingfisher Airlines chairman Vijay Mallya's UB Holdings to keep its head above water a few months ago, is likely to break even before Kingfisher.
Although industry analysts are welcoming Kingfisher Airlines' stake acquisition in Air Deccan as the right move towards consolidation
Kolkata Knight Riders defeated Deccan Chargers by nine runs in an Indian Premier League match in Eden Gardens on Monday.
The Board of Control for Cricket will invite fresh tenders for Indian Premier League franchise Deccan Chargers after a bid from PVP Ventures was rejected by the Hyderabad-based team at an auction in Chennai on Thursday. Deccan Chargers had put their team up for sale and PVP Ventures were the only ones interested, but their bid of Rs 900 crore was rejected by the 2009 IPL champions.
The BCCI has clarified that all the dues to be paid to the players of Deccan Chargers, whose IPL contract has been terminated by the Board, for the last season have been met.
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