New Delhi, June 6: Air Deccan wants to raise up to $300 million through an initial public offering in which 25 per cent of the company?s equity capital could be offloaded to give its ambitious fleet expansion plans a takeoff.

The airline has already signed deals worth $1.4 billion to buy 60 aircraft, including 30 Airbuses and 30 French-made ATR-32s. These will be delivered over five years.

The airline is also considering an issue of American Depository Receipts (ADR). Plans for the offering, expected in June next year, come on the heels of a hugely successful issue launched by Jet Airways last year. IPOs by Air-India and Indian Airlines are also in the air.