Great radio for it's day and the one that got me hooked on Airtronics. Lots of features for its time and more than most back then. I got mine in the mid-80's and liked them a lot.
You did say FM in your post and the frequency corresponds to Ch38. Likely a "narrow band" radio and good to use. Might see if there's a small gold sticker on the back of the transmitter.
If you want to use it, you'll probably need to change all the batteries. Doing that is about half the price of what a new radio might cost if you choose carefully. Also likey is you have the old style plugs on the servos and receiver which means buying anything modern will require adapters - even for the batteries. Plus the servos, while useable, are vastly surpassed by almost any you can buy today for cheap.
If you want play, go for it.
Here's the manual:
http://www.rcheliguy.com/global/airt...s%20Manual.pdf