Recalling the group's proposal for a tie-up with Singapore International Airlines for a domestic carrier in India in the mid-1990s, the Tata patriarch pointed out, "It is a different sector today than it was at that time.
"It is somewhat like telecom. It is proliferated by many operators some of them in financial trouble. I would hesitate to go into the sector today in the sense that the chances are that you would have a great deal of competition, which would be unhealthy competition."
Budget-carrier SpiceJet today said it has raised Rs 126.5 crore through issue of securities to promoter Kalanithi Maran.