Mallya eyeing stake in Air Deccan?

New Delhi, May 7 (UNI) Kingfisher Airlines chairman Vijay Mallya said today he is keen on picking a stake in low-cost carrier Air Deccan but is not ready for a buyout.

''Am I interested? Yes. Am I imminently acquiring it? Not decided as yet,'' he told reporters at the Indira Gandhi International Airport here when asked whether Air Deccan was on his acquisition radar.

Mr Mallya, whose Kingfisher Airlines is positioned as a full service-true value carrier, had last year sought to acquire Air Sahara. But the deal never happened due to differences over valuation.

Air Deccan is India's largest low-fare airline with 350 daily flights mostly to small, non-metro cities across the country. It connects 65 airports with 19 Airbus A320s and 24 ATR turboprop aircraft. Air Deccan has a market share of 21.7 per cent in the domestic market.

''I don't have any current plans to acquire Air Deccan,'' Mr Mallya clarified.

The Bangalore-based Air Deccan's denied report of an acquisition bid from Kingfisher, terming it as mere speculation.

UNI