A month after becoming a legal entity, Fly Bharathi Aviations and Aeronautics Pvt Ltd announced it has inked a preliminary agreement for investments totaling USD 1.8 billion with UK-based SRAM and MRAM Group.

The company stated that it had purchased a majority stake in an existing airline and was in negotiations to purchase majorities in two foreign and one additional Indian carrier.

According to the announcement, the corporation has already purchased a controlling stake in an existing airline to launch the operations.

The business and SRAM and MRAM Group have a Memorandum of Understanding (MoU) in place for investments totaling USD 1.8 billion. According to the announcement, the money would be used to grow the domestic and international aviation industries.

The company is marketed by Girish Shivshankar Pillai, according to the press release.

The firm was incorporated on August 19, 2023, according to information on file with the corporate affairs ministry. It is listed with the Chennai Registrar of Companies (RoC).

Source- Travel biz
Link- https://travelbizmonitor.com/fly-bharathi-aviations-to-raise-funds-eyes-stake-in-airlines/