Mahindra not entering aviation, says chairman

Mahindra Group chairman and managing director Anand Mahindra on Thursday denied that the group may start a new airline, Indian Mint newspaper reported on Thursday.

"Mahindra Aerospace has no plans to enter commercial aviation. It is restricted to the manufacture of utility aircraft and aerostructures," Mahindra wrote in a posting on Twitter.

Two people familiar with the development said earlier that Mahindra Group may start a new airline through a joint venture.

The group is yet to submit a final proposal for the airline and is in the process of finalizing the investors, one of the two people said, asking not to be identified.