With oil reaching record highs and competition intensifying, Captain Gopinath's chances of keeping his carrier afloat would have been more than slim. Employee's jobs and salaries would have been at stake if he had not sold to Vijay Mallya, says Anjuli Bhargava.
Vijay Mallya-promoted UB Group on Tuesday said it has received shareholders' approval for the deal and has put in place an escrow mechanism to complete the transaction.
Back with a bang after a dismal start to the season, the Delhi Daredevils would look to carry on with their newly-gained confidence when they take on Deccan Chargers on home turf in New Delhi on Tuesday.
After his team crushed Royal Challengers Bangalore by 33 runs and notched its first victory at home, Deccan Chargers captain Kumar Sangakkara asked his players not to get carried away but work hard towards build a winning momentum.
Key executives in Kingfisher Airlines and Air Deccan, which announced merger plans on Wednesday, said the merged company has plans to almost double its fleet from 80 to 158 aircraft over the next five to seven years and raise $250 million through equity infusion to finance its immediate expansion needs.
Deccan Aviation, operator of low cost carrier Air Deccan, posted a net profit of Rs 9.64 crore (Rs 96.4 million) for its second quarter ended December 31, 2006.
Maharashtra government has said it is ready with plans to attract domestic tourists to board Deccan Odyssey, the luxury train which takes the travellers through various facets of tourist attractions of Maharashtra and Goa in seven days.
The offer, which is being managed by Edelweiss Capital, was scheduled to open on Wednesday and close on August 13.
Rajasthan Royals edged Deccan Chargers by two runs in a highly entertaining Indian Premier League match featuring the two previous winners at the VCA Ground at Nagpur on Monday.
Low cost airline Air Deccan aims to raise up to 30 per cent of its total revenues from ancillary streams in three years, a three-fold jump from the current levels, its managing director, G R Gopinath said.
The five per cent stake acquisition would be subject to statutory approvals and respective board approvals, the company added. Earlier, Deccan Chronicle was reported to be in the lookout for selling 5 to 8 per cent in Sieger Solutions, the owner of the Deccan Chargers IPL team to a strategic investor.
For the second time in a year, Air Deccan overtook state-owned Indian (formerly Indian Airlines) in 2006, making it country's second-largest domestic carrier.
Images from the Indian Premier League match between Chennai Super Kings and Deccan Chargers in Chennai, on Sunday.
Images from the opening match of IPL 2010 between Deccan Chargers and Kolkata Knight Riders, at the DY Patil stadium in Navi Mumbai, on Friday.
Deccan Chronicle Holdings Ltd on Tuesday said it has launched $54.02 million foreign currency convertible bonds offering.
After initiating ticket bookings through SMS, low-cost carrier Air Deccan on Saturday announced the opening of bookings for one lakh tickets at Rs 999, inclusive of taxes, for travel between February 20 and April 10.\n
Images from Indian Premier League match between Deccan Chargers and Royal Challengers Bangalore on Saturday
Images from the Indian Premier League match between Deccan Chargers and Royal Challengers Bangalore, in Nagpur, on Monday.
'You can't be just bowling the orthodox line when someone is sweeping you.'
William Perkins top scored with his 38 and then Kieron Polard provided the late charge as Trinidad & Tobago huffed and puffed to 149 for seven against Deccan Chargers in a crucial Group A match of the Champions League Twenty20 tournament in Hyderabad on Wednesday.
Air Deccan had also approved a plan to offer 10 per cent of the equity to its employees. The airline hopes to carry 4 million passengers during the current year and report revenue of Rs 1,000 crore.
Air Deccan announces new flights from Delhi to various destinations across India.
A brilliant spell of spin bowling by Pragyan Ojha (4-0-21-3) enabled Deccan Chargers beat Mumbai Indians by 12 runs in an Indian Premier League match at Durban on Saturday. The Hyderabad bowler took, amongst other, the crucial wickets of Sachin Tendulkar and JP Duminy, to play a starring role. Chasing 169 to win, having restricted the Hyderabad team with an impressive fightback, Mumbai finished at 156 for seven.
Anjani Malik, a resident of Haryana, was not able to catch a flight from Kullu to Delhi in March last year and was told to wait for the next day, the exercise which lasted for four days at at a stretch. After the harassment, he decided to return to the capital at his own costs. Malik then approached the District Consumer Forum, Sheikh Sarai, claiming Rs 50,000 compensation following which the airlines was asked to pay Rs 30,000.
Know the forts India has nominated to the UNESCO World Heritage list.
Budget carrier Air Deccan on Monday said volatile crude oil prices has affected the airline's operational cost by 20 per cent, forcing it to increase its high-end bucket fares by 12 to 15 per cent.
Air Deccan, India's first low-cost carrier, on Friday announced the release of 3,300 tickets priced at Re 1 and 6,500 tickets (excluding taxes) priced at Rs 500 for reservations in September and October.
Australia's Adam Gilchrist has replaced VVS Laxman as the captain of the Deccan Chargers in the Indian Premier League.
Johan Botha smashed his way to an unbeaten half-century as Rajasthan Royals kicked off their campaign in the fourth edition of the Indian Premier League (IPL) with a comfortable eight-wicket win over Deccan Chargers in Uppal on Saturday.
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