49% FDI in TRUJET: USA based INTERUPS Inc agreed to pump funds

HYDERABAD: The only successful operator in UDAN routes, Trujet, garnered 49 per cent Foreign Direct Investment (FDI) to expand its operations. The Newyork 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 operating the flights to 21 stations, including tier-2 cities with 7 ATR aircraft.

On this occasion, Mr K.V. Pradeep, Group Director, MEIL and Mr. Palepu Lakshmi Prasad, the Chairman of INTERUPS Inc., jointly stated that "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, is 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 been successfully operating its services to Belagavi, Bidar, Mysore, Vidyanagar in Karnataka. TruJet is the only airline operating the Hyderabad-Aurangabad sector.

Over 28 lakh travelled so far.

TruJet, which has carried 28.19.893 passengers to different parts of the country since its inception. It is trying to put the 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.

About Trujet:

Trujet is a regional air carrier promoted by Turbo Megha Airways Pvt. Ltd and is headquartered in Hyderabad. Trujet schedule offers convenient connections between important business and religious destinations. With a fleet of ATR-72 aircraft, Trujet currently operates to 21 stations. All the RCS routes will also have Trujet's monopoly, being the only airlines serving the sectors. Trujet strives to offer excellent and unparalleled value for money. RCS sectors under UDAN project, connecting them to the nearest Metropolitan ensuring an overall growth of the country bridging the gap between Tier I & Tier II cities.