Fly Bharathi Aviations to raise funds, eyes stake in airlines

Fly Bharathi Aviations and Aeronautics Pvt Ltd also claimed that it has acquired a majority stake in an existing airline, and was in talks to buy a majority stakes in one more Indian airline and two international airlines.

Fly Bharathi Aviations and Aeronautics Pvt Ltd, which was incorporated as a company last month, on Monday said it has signed a preliminary pact with UK-based SRAM and MRAM Group for investments worth $1.8 billion. (File image)

Listen to this article

00:00

1x 1.5x 1.8x

In a statement, the company also claimed that it has acquired a majority stake in an existing airline, and was in talks to buy a majority stakes in one more Indian airline and two international airlines.

The company has already acquired a majority stake in an existing airline to start the operations, the statement claimed.

Specific details were not disclosed.

Story continues below this ad

The company has signed a Memorandum of Understanding (MoU) with SRAM and MRAM Group for investments to the tune of USD 1.8 billion. The funds will be utilised for the expansion of both domestic and international aviation business, the statement said.

According to the release, the company is promoted by Girish Shivshankar Pillai.

Data available with the corporate affairs ministry showed that the company’s date of incorporation is August 19, 2023. It is registered under the Registrar of Companies (RoC), Chennai.

The company’s authorised capital is Rs 10,00,000, as per the data.

Hamas under pressure to respond to Gaza peace plan as Trump says will give ‘three or four days’

Trump gives Hamas 3-4 days to accept Gaza peace plan, with a warning

7 hr ago

US President Donald Trump has given a tight deadline to Hamas for accepting his Gaza peace plan, warning of a “sad end” if if they refuse to accept the conditions. Palestinian militant group Hamas is yet undecided on whether to accept the peace deal proposed by US President Donald Trump on Monday.

View all shorts

Live Blog

PHOTOS