Gopinath wants Deccan back from Mallya

Mumbai, Oct 15: Kingfisher Airlines Ltd Vice Chairman G R Gopinath said on Wednesday, Oct 15 expressed his plans of buying back the budget airline of Kingfisher if Chairman Vijay Mallya exits the low-cost carrier model. Gopinath, is believed to be considering an offer to buy back Air Deccan as he is reportedly unhappy over the alliance Kingfisher has struck with Jet Airways.

"A long-term monopoly is not good for the country, not good for the consumer, neither is it good for the airline industry itself," he told sources adding he would continue to be against any such monopoly.

"If both Vijay Mallya and Naresh Goyal ...want to exit the low-cost model because they think it is embarrasing for them, then let me buy it back," he told sources.

"It can't be a hostile takeover since Vijay Mallya owns more than 60 percent stake, but if he wants to exit the space then it (Air Deccan) should be spun off into a separate entity. Even he (Mallya) will get the money that he needs," Gopinath said.

Though he did not have finances for the purchase at the moment, Gopinath said he was confident many investors would be interested in backing him in the effort.

"Even when I started Air Deccan, I did not have any money, still people put money in my airline," he added.

OneIndia News