Interups picks 49 per cent stake in Trujet

The New York-based Interups came forward to take the 49 per cent stake in Hyderabad-headquartered Turbo Megha Airways Pvt Ltd, which owns and operates under the name Trujet.

Hyderabad: Regional air carrier Trujet said it garnered 49 per cent Foreign Direct Investment (FDI) to expand its operations. The New York-based Interups came forward to take the 49 per cent stake in Hyderabad-headquartered Turbo Megha Airways Pvt Ltd, which owns and operates under the name Trujet.

KV Pradeep, Group Director, MEIL and Palepu Lakshmi Prasad, spokesperson of INTERUPS Inc, jointly stated that “The funds raised through 49 percent 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.”

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Trujet commenced its operations in July 2015 and now flies to 21 destinations under India’s Ude Desh ka Aam Naagrik (UDAN) scheme. It has carried over 28 lakh passengers so far.

It is trying to put remote places on the national aviation map by connecting them with the rest of the country. It started with two aircraft but now has seven aircraft, a release said.

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