Adani Enterprises on Friday denied a Reuters report that said the conglomerate was considering launching a new airline in India.
"We would like to categorically deny the recent media reports and market speculation suggesting that Adani Enterprises is planning to launch an airline. These reports are entirely baseless and factually incorrect," a spokesperson for Adani Enterprises said. "Adani Enterprises is not evaluating any proposal to enter the airline business."
The clarification followed a Reuters report that said the group, led by billionaire Gautam Adani, was weighing plans to start an airline, citing two sources with direct knowledge of the matter.
According to Reuters, such a move could reshape competition in India's aviation sector, where IndiGo and Air India are the dominant carriers.
The report said the proposal would mark a shift in strategy for the ports-to-cement conglomerate. The group operates eight airports across India, including two in Mumbai, and is pursuing an $11 billion airport expansion plan. Reuters noted that the company had previously said it was not looking to enter the airline business.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
