Mahindra & Mahindra (M&M) has no plans to foray into commercial aviation space, the company said in statement on Thursday, reacting to certain media reports.
"Mahindra Aerospace has no plans to enter commercial aviation. It is restricted to the manufacture of utility aircraft and aerostructures,” Anand Mahindra, Chairman and Managing Director, Mahindra Group, said on micro-blogging site Tweeter.
Anand Mahindra was reacting to a couple of media reports which stated that M&M was looking to foray into aviation sector through the group company Mahindra Aerospace.
The media reports, quoting sources, said that Mahindra Group may start a new airline through a joint venture. The group was yet to submit a final proposal for the airline and is in the process of finalising the investors, one of the reports said.
In a separate statement M&M also denied the reports.
“Mahindra Aerospace would like to categorically state that it is not entering the commercial aviation business and that its business is restricted to the manufacture of utility aircraft and aerostructures,” it said.