Mumbai, July 23 (IANS) Indian conglomerate Mahindra Group on Thursday said it has no plans to enter the commercial aviation market.
“I would like to state that we have no plans to enter the commercial aviation business,” Anand Mahindra, chairman and managing director, Mahindra Group said.
“Mahindra Aerospace has no plans to enter commercial aviation. It is restricted to the manufacture of utility aircraft and aerostructures,” Mahindra tweeted on micro-blogging website Twitter.
Mahindra Aerospace is a subsidiary of the $16.9-billion Mahindra Group. It has led the group’s foray into utility aircraft and aerostructure manufacturing since 2008.
In recent years, Mahindra Aerospace has acquired a slew of companies to strengthen its capabilities in lower-cost production.
The company manufacturers utility aircraft in Australia. The aerostructures business operates out of its facility located at the Narsapura Industrial Estate, Bengaluru.
The company has also bagged a large aero-components production contract from an Airbus Group company — Premium Aerotec of Germany.
It is also collaborating with GE Aviation to manufacture aerostructures.