Air Deccan to choose anchor investors in 2 weeks

Rajahmundry: Low-cost air carrier Air Deccan will decide on anchor investors in two weeks ahead of the proposed public issue. They will pick 5-10 per cent in all.
"We are talking to a few financial institutions. We hope to finalise it in 8-10 days," Capt. G.R. Gopinath, Managing Director of Air Deccan, said.
The company was in the process of filing its final prospectus for the issue. Capt. Gopinath was here in connection with the launch of Hyderabad-Rajahmundry service.Talking on the financials, he said the company was yet to report profits.
"This is because we have made huge investments to develop new routes, engineering and ground handling. We have made these investments in the hope that the middle class flies. It will take another 12 months for us to record profits," he said.
02/04/06 Sify

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