AgenciesUS-based investor Interups which had shown an interest in bidding for Air India has agreed to buy a 49% stake in regional airline TruJet, said a statement.
"The funds raised through 49per cent FDI in the company, will be utilized 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," said KV Pradeep, group director Megha Engineering and Infrastructures Limited, which owns TruJet.
TruJet flies to 21 stations, including tier-2 cities with 7 ATR aircraft. The airline commenced its operations in July 2015.
Interups in December announced it would submit an expression of interest for Air India and then decided not to go ahead with it.
"The funds raised through 49per cent FDI in the company, will be utilized 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," said KV Pradeep, group director Megha Engineering and Infrastructures Limited, which owns TruJet.
TruJet flies to 21 stations, including tier-2 cities with 7 ATR aircraft. The airline commenced its operations in July 2015.
Interups in December announced it would submit an expression of interest for Air India and then decided not to go ahead with it.
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