Kingfisher buys 26% of Air Deccan — $135 million
Kingfisher Airlines' parent company buys 26% of Air Deccan for $135.6 million, likely ending Air Deccan's frequent-traveler perks. This move is part of a strategy to control nearly a third of India's domestic market.
Kingfisher Airlines’ parent company, UB Holdings, bought a 26% stake in Air Deccan for $135.6 million. This acquisition was made at a 10% premium to market value. An open offer for another 20% stake is expected to follow under India’s takeover code.