NEW DELHI (Reuters) - Indian conglomerate Mahindra Group has no plans to enter the commercial aviation business, its chairman said on Thursday, after a local media report said the company was planning to launch an airline.
"Mahindra Aerospace has no plans to enter commercial aviation. It is restricted to the manufacture of utility aircraft and aerostructures," Anand Mahindra said on Twitter. (http://bit.ly/1CWCVER)
Business daily Mint, citing unnamed sources, reported earlier on Thursday that Mahindra was considering starting a new airline through a joint venture.
One of the world's fastest growing markets for commercial air travel, India is forecast to be the world's third largest aviation market by 2020.
(Reporting by Tommy Wilkes; Editing by Prateek Chatterjee)
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