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Liquor baron Vijay Mallya on Sunday withdrew from the race to buy out Air Sahara, saying he was not interested in the bid as the Kingfisher Airlines promoted by him was doing well.
"At this moment, I can tell you that Kingfisher is not interested in buying Air Sahara... My airline is doing well... why should I think of buying another one," Mallya told reporters on the sidelines of Kingfisher Swimsuit Calendar launch.
Mallya's Kingfisher Airlines had expressed interest to buy Air Sahara a couple of months back and the bid was learnt to be about $510 million.
Ernst and Young, advisers to Air Sahara, had valued the airline at between $750 million and $1 billion.
The Kingfisher Airlines chief said Jet Airways may buy Air Sahara. "Jet Airways may buy Air Sahara... I have market information on that," he said.
Naresh Goel-promoted Jet Airways had also made a bid to buy stake in Air Sahara, sources said.
Air Sahara had earlier planned to sell 25 per cent stake, but later decided to sell off the airline business and appointed Ernst and Young as market advisor for that.