Adani Enterprises: no plan to enter airline business
Adani Enterprises denied media reports that the Adani Group is considering entering the airline sector. The company said it is not evaluating any proposal to acquire an airline business in a stock exchange filing. The statement coincides with the Ministry of Civil Aviation’s review of cross‑ownership rules for airport operators and airlines.
- ▪Adani Enterprises issued a filing stating it is not evaluating any airline entry proposals.
- ▪The denial follows speculation that policy changes were being driven by the Adani Group.
- ▪The Ministry of Civil Aviation is deliberating easing restrictions on equity stakes between airlines and airport operators.
- ▪Current airport concession agreements limit airlines to holding no more than 10% or 26% equity in airport operators, and similarly restrict airport operators from acquiring airline stakes.
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Adani Enterprises on Friday dismissed media reports claiming the Adani Group was exploring an entry into the airline business.“Adani Enterprises is not evaluating any proposal to enter the airline business,” the company said in a stock exchange filing. It called media reports baseless and factually incorrect.The denial comes amid the Ministry of Civil Aviation’s deliberations on easing cross-ownership restrictions between airport operators and airlines. Some media reports had suggested the proposed policy changes were being considered at the behest of the Adani Group.Under existing airport concession agreements, scheduled airlines are typically restricted from holding more than 10% or 26% equity in airport operators.
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