US-based Interups picks 49% stake in regional airline TruJet
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New York-based Interups Inc has picked 49 per cent stake in Hyderabad-headquartered Turbo Megha Airways Pvt Ltd operates under the name TruJet.
TruJet operates its flights to 21 stations, including tier-2 cities with 7-ATR aircraft.
K.V. Pradeep, Group Director, Hyderabad-based MEIL Group which owns the airline and Palepu Lakshmi Prasad, the Chairman of INTERUPS Inc. jointly stated that "the funds raised through 49 per 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".
TruJet commenced its operations in July 2015 and now flies to 21 destinations under UDAN - Regional Connectivity Scheme.
Its destinations include Hyderabad, Mumbai, Aurangabad, Chennai, Goa, Bangalore, Tirupati, Vijayawada, Kadapa, Rajahmundry, Ahmedabad, Porbandar, Jaisalmer, Nashik, Jalgaon, Cooch Behar, Buranpur and Tezu.
