Hyderabad: Local airline Trujet said it had acquired 49 percent foreign direct investment (FDI) to expand its operations. The New York-based Interups has acquired a 49 percent stake in Hyderabad-based Turbo Megha Airways Pvt Ltd and owns and operates under the name Trujet.
KV Pradeep, group director, MEIL and Palepu Lakshmi Prasad, spokesperson for INTERUPS Inc, jointly stated that ‘the funds raised by the 49 per cent foreign exchange in the company will be used to expand its operations in India and the explore newer opportunities in civil aviation. sector. We will finalize the exact final amount later. ”
Trujet started operations in July 2015 and now flies to 21 destinations under the Ude Desh ka Aam Naagrik (UDAN) scheme in India. So far, more than 28 lakh passengers have been transported.
It is trying to put remote locations on the national aviation map by connecting it to the rest of the country. It started with two planes, but now has seven planes, according to a release.
Source: Telangana Today