Manufacturing Industry
Air Deccan in talks to raise USD60m in capital
Airline Industry Information, Nov 4, 2004
AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD
Indian low-cost airline Air Deccan is seeking up to USD60m in capital and is in talks with seven interested parties according to its managing director GR Gopinath.
Gopinath told reporters that the airline expects a deal to be struck with the next 40 days but refused to discuss dilution of stakes in the company by any such deal.
The airline has also launched an 'ICICI Bank Air Deccan Travel Agents Purchase Card' with ICICI Bank which both the bank and Air Deccan claim is the first purchase card in India to feature VISA, and would allow travel agents to purchase Air Deccan tickets instantly through the airline's online reservation system, reports Press Trust of India.
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