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.
Mumbai Airport Terminal 1 to resume domestic flights from today, five airlines to operate
Due to the COVID-19 lockdown, flight services from T1 which caters to domestic passengers, were suspended since March 2020. File photo
Updated: Mar 10, 2021, 06:13 AM IST
The Chhatrapati Shivaji Maharaj International Airport (CSMIA) is all set to resume its domestic flight operations on Terminal 1 (T1) from March 10. Five domestic carriers will be operating 102 flights from the terminal across 27 destinations.
The five domestic carriers which will operate from Terminal 1 are Go Air, Star Air, Air Asia, Trujet and Indigo 6E 5500- 6E 5999.
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“For the kind attention of Domestic passengers flying to and from Mumbai! CSMIA will be re-opening Terminal 1 from March 10th 2021,” CSMIA wrote on their official Twitter handle.
Interups close to buying majority stake in Trujet
March 02, 2021
Trujet links main cities with Tier-2 and -3 cities using eight ATR 72 aircraft, under UDAN - The Hindu
Trujet links main cities with Tier-2 and -3 cities using eight ATR 72 aircraft, under UDAN - The Hindu×
US-based fund also backs Megha Engg for Shipping Corp bid
US-based Interups Inc is close to signing an agreement to buy a majority stake in Trujet a scheduled regional carrier holding a scheduled commuter operator permit from Hyderabad-based Megha Engineering & Infrastructures Ltd, multiple sources said.
The New York-based fund, led by Indian-born Laxmi Prasad, has also backed Megha Engineering & Infrastructures, which had submitted an expression of interest (EoI) for the privatisation of state-run carrier Shipping Corporation of India Ltd on Monday.
Hit by the Covid-19 pandemic, TruJet may raise up to ₹250 crore in a bid to keep its operations ongoing.According to two people in the know, TruJet promoter Megha Engineering and Infrastructure Ltd (