TruJet last operated a flight in March 2022, after which the pandemic’s impact forced it to halt operations
Hope is on the horizon for the beleaguered budget carrier TruJet, with Florida-based NS Aviation acquiring a 85% stake at a ₹450-crore valuation of the firm.
TruJet last operated a flight in March 2022, after which the pandemic’s impact forced it to halt operations. Consequently, its air operators permit (AOP) was suspended. “The AOP can be renewed till October 2024,” promoter and MD V. Umesh said, exuding confidence that the airline can start operations once again with the onboarding of the new investor.
An airline focussed on UDAN connectivity, TruJet has permission to operate on 116 such identified routes, he said, claiming that aircraft-leasing firms were willing to either renew the lease on the three ATR or even sell them.
A new investor is a bright spot for the airline that counts actor Ramcharan among its founders. The airline had changed hands before Mr. Umesh bought back a 99.1% stake from Megha Engineering Group. Ramcharan’s stake stands at 0.9%, Mr. Umesh said.
NS Aviation vice-chairman Isha Ali said the investment in TruJet was a part of a larger plan to launch flight services in India and, over the next few years, operate 100 A320 aircraft. For connectivity to tier II locations, ATRs will be deployed.
There are also plans to launch heliservices for tourism and as air ambulances besides private jets, she said, adding that the NS Group may invest ₹50,000 crore in the country.
