Interups Inc picks up 49% stake in Trujet
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‘Hyderabad-based regional airline Trujet on Thursday announced 49% foreign direct investment from New York-based Interups Inc in a move that would aid in the expansion of its operations.
“The funds raised through 49% FDI in the company will be utilised to expand operations pan India and explore newer opportunities in the civil aviation sector, “ said K.V. Pradeep, group director, MEIL (Megha Engineering and Infrastructures Limited) and Palepu Lakshmi Prasad, chairman of Interups Inc., in a joint statement.
The funding would be decided at a later stage.
Trujet is a regional air carrier promoted by Turbo Megha Airways Pvt. Ltd. It has seven planes and serves almost 21 destinations across India, including those awarded to it under the government’s regional connectivity scheme.
Only Tata, Spicejet now in the fray for Air India sentinelassam.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sentinelassam.com Daily Mail and Mail on Sunday newspapers.
By siliconindia | Monday, 08 March 2021, 04:43 Hrs Only the Tata Group and private airline Spicejet remain in the fray for buying Air India as all the other bids have been rejected, according to sources close to the development. The bids have been rejected after the evaluation of the expressions of interest (EoI) where multiple bids were received. The transaction advisors have been in touch with the interested bidders regarding several queries and the qualified bidders will be intimated only after the government is satisfied with the responses from the bidders. Apart from Tata Sons and Spicejet, Tata Sons and the New York-based Interups Inc backed by strategic NRI investors from the US and Europe are said to be the interested bidders for the national carrier.