Fly Bharathi Aviations secures Rs 150 Bn investment deal

Fly Bharathi Aviation and Aeronautics, recently incorporated as a company in August 2023, has announced a significant step in its expansion plans. The company revealed that it has signed a preliminary agreement with the UK-based SRAM and MRAM Group for investments totaling Rs 150 billion. Additionally, Fly Bharathi Aviation claims to have already acquired a majority stake in an existing airline and is currently engaged in discussions to secure majority stakes in one more Indian airline and two international airlines.While specific details of these transactions were not disclosed, the investments from SRAM and MRAM Group are expected to fuel the expansion of both domestic and international aviation ventures for Fly Bharathi Aviation.The newly established company is promoted by Girish Shivshankar Pillai, and its incorporation date is recorded as August 19, 2023. It is registered under the Registrar of Companies (RoC), Chennai, with an authorised capital of Rs 1 million.This strategic move positions Fly Bharathi Aviation for significant growth and involvement in the aviation industry, both in India and globally, with substantial investments and a focus on acquiring stakes in multiple airlines.