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 USD 1.8 billion. 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.
