Business News | Adani Enterprises Denies Plans to Enter Airline Business, Calls Reports 'baseless and Factually Incorrect'
Get latest articles and stories on Business at LatestLY. Adani Enterprises has denied media reports that it is planning to launch an airline, as per a statement by the company.
New Delhi [India], July 24 (ANI): Adani Enterprises has denied media reports that it is planning to launch an airline, as per a statement by the company.
In the release, Adani noted, it is not evaluating any proposal to enter the airline business, calling the reports "entirely baseless and factually incorrect."
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"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," it said.
It added, "Adani Enterprises is not evaluating any proposal to enter the airline business."
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Earlier media reports had stated that major airport operators GMR Group and Adani Group were seeking approval to enter the airline business by pursuing changes to existing rules governing airport operators' ownership of scheduled airlines.
Media reports suggested that the move would require amendments to the existing regulatory framework, which currently bars operators of the New Delhi and Mumbai airports from holding more than a 10 per cent stake in a scheduled airline. The reports further said the government was examining the possibility of amending the provision, including seeking legal opinion, with any change requiring Cabinet approval.
However, neither the government nor the airport operators have officially announced any changes to the existing rules.
In a separate development, Adani Defence & Aerospace and the Defence Research and Development Organisation (DRDO) signed an agreement to develop India's next-generation Airborne Early Warning & Control (AEW&C-MKII) system for the Indian Air Force (IAF) to support PM Narendra Modi's Aatmanirbhar Bharat initiative.
Under the agreement, the two organisations will jointly develop, manufacture and integrate airborne mission systems on six modified Airbus A321 aircraft for the IAF. The programme will also cover integrated logistics, maintenance, repair and overhaul (MRO), and technical support for up to 30 years. The AEW&C-MKII platforms are scheduled for induction into the IAF in 2032-33. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)