Initial pact has been signed between two entities for deal
Mumbai: Mumbai-based FA Airlines is set to acquire regional carrier FlyBig, according to sources.
FlyBig has four planes in its fleet. Incorporated in 2022, FA Airlines is focused on the aviation sector. The sources said an initial pact has been signed between the two entities for the deal.
Once the transaction is complete, FlyBig’s fleet will be expanded by more than 20 aircraft, they added. Fauzia Arshi, an entrepreneur from the film industry, is the Managing Director of FA Airlines.
India is one of the world’s fastest-growing civil aviation markets and domestic air traffic is on the rise. During the January-March 2024 period, airlines carried 391.46 lakh passengers, as per official data.
At present, there are at least six scheduled regional carriers — Alliance Air, FlyBig, Indiaone Air, Star Air, Zooom, and Fly91.
There are six scheduled domestic airlines in the country — Air India, AIX Connect, Vistara, IndiGo and SpiceJet.
