Gopinath controls a 9% stake in the merged Kingfisher-Deccan entity and is known to have had differences of opinion with Mallya over fares.
Talking to UTVi, he said, going by the press reports this (the alliance) won't lead to a merger and added it was not good for the country.
When asked if he was in the loop during the alliance talks and on future scenario , Gopinath said: "I am going by what Goyal told in the media. His loss was on the low cost pricing...Deccan too has fewer passengers than before and is losing money. However, there is a space for low cost growth. I am going to meet both of them... If they decide to exit this space then I would like to step in. Although I don't have the money to buy... I don't want this dream to die."
"Vijay Mallya spoke to me and said it was an alliance. I watched the media reports where they dismissed the low cost space. Then I thought if they want to exit, I would like to buy back Air Deccan. I don't know whether it will happen. Mallya said
he would stay committed to a low cost Deccan. The press is talking about a merger between Kingfisher and Jet... Even I would like to find out...
When asked if he had the financial backing to buy back Deccan, Gopinath said: "I never had the money when I started Deccan...As the second largest share holder if Mallya agrees and says take back Deccan then we will see. I would not want to talk about this relationship. As long as the model continues, I am happy. This model is important for consumers. You need a pipeline of customers and a model that enlarges the consumer base. I don't think the airline space is sustainable if you want just 3 million passengers."
On the pricing monopoly, he said: "It is not good for the country and monopoly should not be encouraged. It is nothing to do with an individual or a minister. If you look at the scenario five years ago, there was a monopoly. People who could afford air travel were very few... because it was prohibitively expensive... If you need growth you need to stimulate it. That's what the Nano is all about or what Reliance Communication is all about."
On being asked what he would do if he failed to muster the money for the buyback, Gopinath said: "I am not going to sabotage anything... Take the case of Infrastructure Leasing Finance Corp who sold out to AIG, which went bankrupt. Investors are falling behind the company to buy it back. Consensus is needed... I will talk to Mallya. If they offer to spin it off, I will try to buy it back... I have some equity, I am only an enabling factor. I am fully involved in the air logistics venture and not so much in the airline, but if Mallya approves and if investors wish then we would be able to do it."
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