Deccan Aviation Ltd, in which Vijay Mallya's UB group has picked up 46 per cent stake, may hive off its aviation chartering business into a separate entity.
Even as growth in traffic on chartered flights has fallen 6 to 8 per cent over the past year, rising fuel prices are forcing private charter operators to raise tariffs a substantial 20 per cent from September 1. India has more than 50 non-scheduled operators, which include helicopter operators like Global Vectra, aircraft operators like Ran Air and Taj Air and companies like Deccan Aviation Ltd that fly both helicopters and aircraft.
A bench headed by Justice Arijit Pasayat refused to give relief to Deccan Aviation, which had sought stay on a Delhi high court order. The high court had asked it to pay litigation expenses of Rs 50,000 to a passenger in addition to about Rs 33,000 by way of difference in fares and compensation, as ruled by consumer courts earlier.
The offer, which is being managed by Edelweiss Capital, was scheduled to open on Wednesday and close on August 13.
The transaction, which values Air Deccan at Rs 155 a share, would be through allotment of non-preferential shares to UB
New Delhi District Consumer Disputes Redressal Forum, presided by C K Chaturvedi, asked the company to pay Rs 45,792 to Delhi-based family comprising Sandeep Sharma, Navdeep Sharma, Monika Sharma and Poonam Sharma.
Kingfisher Airlines Ltd has been directed by the Delhi High Court to pay Rs 52.61 lakh to a pilot.
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