Trujet garners 49 per cent FDI to expand its operations
Apr 01, 2021
Hyderabad (Telangana) [India], April 1 (ANI/PRNewswire): The only successful operator in UDAN routes, Trujet, garnered 49 per cent Foreign Direct Investment (FDI) to expand its operations. New York-based INTERUPS Inc. came forward to take a 49 per cent stake in Turbo Megha Airways Pvt Ltd, which owns and operates under the name Trujet.
TruJet, successfully operates flights to 21 stations, including tier-2 cities with 7 ATR aircraft.
On this occasion, K.V. Pradeep, Group Director, MEIL and Palepu Lakshmi Prasad, Chairman of INTERUPS Inc., jointly stated, "The funds raised through 49per cent FDI in the company, will be utilised to expand its operations pan India and explore the newer opportunities in the civil aviation sector. We will finalise the exact final amount at a later stage."
Trujet (Turbo Megha Airways Private Limited, a part of MEIL group) commenced its operations in July 2015 and now flies to 21 destinations under India's prestigious scheme Ude Desh ka Aam Naagrik (UDAN). The destinations include Hyderabad, Mumbai, Aurangabad, Chennai, Goa, Bangalore, Tirupati, Vijayawada, Kadapa, Rajahmundry, Ahmedabad, Porbandar, Jaisalmer, Nashik, Jalgaon, Cooch Behar, Buranpur, Tezu. TruJet has also been successfully operating in Belagavi, Bidar, Mysore and Vidyanagar in Karnataka. TruJet is the only airline operating the Hyderabad-Aurangabad sector.
Over 28 lakh travelled so far.
TruJet, which has carried over 28,19,893 passengers to different parts of the country since its inception. It strives to put remote places on the national aviation map by connecting them with the rest of the country. Launched on July 12, 2015, with two aircraft, Turbo Megha Airways Pvt. Ltd. TruJet, is now operating with seven aircraft.
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