Anil Ambani, chairman of the Reliance-Anil Dhirubhai Ambani Group (ADAG), is planning to enter into the troubled world of aviation. According to reports, the younger of the two Ambani scions has initiated talks with Gurgaon-based low-cost carrier SpiceJet.
Shares of SpiceJet rose as much as 23.4% after a business daily reported that Anil Ambani was in the race to buy a majority stake in the no-frills airline. According to the newspaper, Anil Ambani is competing with Jet Airways and Kingfisher Airlines.
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