Deccan Aviation ends higher on BSE

Deccan Aviation ended higher on the BSE after the aviation ministry showed a green signal to the company to operate seven flights a week between Bangalore and London. The stock ended trading at Rs 89 per share, up 1.80 points or 2.06% on the BSE.

The stock had opened at Rs 87.95 per share as compared to its previous close of Rs 87.20 per share on Tuesday.

Intraday, the counter touched a high and a low of Rs 91.15 per share and Rs 86.95 per share, respectively.

During the day, over 5.13 lakh shares of the company were traded on the BSE.

The stock touched its 52-week high of Rs 335 per share on December 19, 2007 and a 52-week low of Rs 54 per share on July 2, 2008.

Intraday, the stock outperformed the Sensex.

Vijay Mallya’s long treasured aspiration of his airline flying aboard will be accomplished soon. The aviation ministry has shown a green signal to Deccan Aviation to operate seven flights a week between Bangalore and London.

Mallya has a substantial stake in Deccan Aviation and Kingfisher will fly abroad on the licence that been awarded by the ministry.

Deccan will complete five years of operation on August 26, 2008 and with this it has become eligible to fly overseas.

The ministry has informed USA, UK, Singapore, UAE, Thailand, Maldives, Saudi Arabia, Kuwait, Sri Lanka, Bangladesh, Hong Kong, Malaysia and Pakistan that Deccan will be an Indian designated international carrier. Mallya is likely to launch flights to all the mentioned places from November and could go for a soft launch as early as September 3, 2008.