Deccan Aviation stock flies high on reverse merger rumours
21 November 2007
Mumbai: Stock of Deccan Aviation rose over 23.23 per cent on Tuesday, to Rs191.5, on rumours that the company might go for a reverse merger with UB Group''s Kingfisher Airlines after de-listing itself from the stock exchange, with Kingfisher Airlines listing itself on the stock exchange.
The rumours gained credence from the fact that Deccan Aviation, which now runs ''Simplify'' Deccan, is due to get clearance for the launch of its international operations anytime now, as it has completed the mandatory five years of domestic flying before getting an international license.
While Deccan Aviation officials have dismissed talk of a reverse merger as speculative, a UB Group spokesperson declined to make any comments.