R Krishna Swamy, head (planning), Air Deccan, said the airline was already making profits and the average daily revenue was around Rs 2.2 crore (Rs 22 million).
He said the size and exact timing of the initial public offer were being worked out. On acquisition of aircraft for strengthening its fleet, he said the airline had already placed orders for A 320s and ATR 42s, adding by the end of the year 2010, the number would be raised to 60.
Currently, Air Deccan has a fleet strength of five A 320s and 14 ATRs connecting 100 destinations across the country.
Swamy said Air Deccan would hire 50 per cent of the aircraft on wet lease, while the remaining would be purchased outright.
He said all the government formalities had been completed in respect of aircraft acquisitions.