No plans to operate an airline: Adani Group CFO
Mumbai, July 31 -- The Adani Group is exploring the possibility of picking a non-controlling stake in regional carriers to improve connectivity to its existing and future small airports, but has no plans to operate an airline, a top executive said on Wednesday.
"We're not starting an airline or business, but to be able to support the development of an airline for regional connectivity is our interest," Adani Group's chief financial officer (CFO) Jugeshinder Singh told analysts during a post-earnings call of flagship firm Adani Enterprises Ltd.The clarification comes four days after Adani Enterprises informed stock exchanges that it was "not evaluating any proposal to enter the airline business."
Singh said that a recent letter written by Adani Airport Holdings, an entity under Adani Enterprises, to the Airports Authority of India, seeking a change in rules to allow it to have a larger stake in an airline, should be viewed in the context of promoting regional connectivity rather than as a precursor to launching an airline....
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