Vijay Mallya has denied he plans to sell his Force India Formula 1 team, followingof his decision to shut down the low-cost arm of his airline.
Mallya announced earlier this month that he is to close the low-cost part of his Kingfisher airline in order to focus on the premium model and reduce debt. Indian media reported Mallya could also be considering selling his Formula 1 team, but he has dismissed the speculation.
"No question of my getting out of Force India," Mallya said in a statement. "I have even more reason to improve team performance when India comes on the Formula 1 map," he added.
The inaugural Indian Grand Prix takes places on Oct. 30.