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Air Deccan plans to raise up to USD300 million


BANGALORE (Air Deccan) - Air Deccan plans to raise up to USD300 million from its proposed IPO in Mar-06, subject to regulatory approval.

The carrier, which currently operates nine A320s and 17 ATRs, ordered an additional 30 A320s in Dec-05 to add to 32 A320s and 30 ATR72s already on order. Funds raised from the IPO will be used to establish ground facilities at airports, train staff and fund aircraft acquisitions.

Meanwhile, SpiceJet has announced (27-Jan-06) plans to launch services from Bangalore to Chennai, Mumbai and Kolkata from late Mar-06.

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