TruJet ready to takeoff again, US-based NS Aviation acquires 85% stake

[ad_1]

US-based NS Aviation has acquired an 85 percent stake in the Hyderabad-based budget airline TruJet, which ceased operations in 2022 due to financial troubles.

NS Aviation vice chairman Isha Ali said on June 19 that the total valuation of the deal was around Rs 450 crore and the transaction would be completed soon.

Also Read: InterGlobe Aviation flies to 52-week high powered by record 500-aircraft order

India Plans

Talking about the company’s India plans, Ali said NS Aviation was planning to induct 100 Airbus 320 Neo aircraft.

The airline plans to focus on domestic operations and have flights connecting key metro cities such as Mumbai, New Delhi, Kolkata, and Hyderabad.

Also Read: Aircraft mega-deals prompt bubble warning from industry veterans

Future Plans

The American aviation company has set its sights on covering international routes as well, however, that will be done over the next 18 months, as the company is planning to strengthen its base in India.

“We will operate flights to Tier-II and III cities by the end of this year and International destinations by the next one-and-half year,” Ali said.

The company also plans to increase its fleet for international operations by adding ten Airbus aircraft for international cargo operations.

Operations are expected to commence as early as October, with competitive pricing, attractive offers, and complimentary meals to attract passengers, the airline said.

Even as IndiGo, the country’s largest airline by market share, ordered a jaw-dropping  500 Airbus aircraft on June 19, the Indian aviation sector is seeing some turbulence as well.

Also Read: IndiGo makes historic $50 billion aircraft order, securing 500 Airbus A320 family planes

In May, budget carrier Go Air submitted for bankruptcy, which it has blamed on faulty Pratt and Whitney engines that grounded about half of its fleet. Rival SpiceJet, too, is caught in litigation over payment of dues in one of the world’s fastest-growing aviation markets

[ad_2]

Source link