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TruJet to double its fleet by end of 2019

TruJet to double its fleet by end of 2019

Hyderabad, Jul 12 (UNI) Hyderabad-based Turbo Megha Airways Private Limited, operating under the name Trujet has entered into agreements which will enable the airline to double its fleet to 10 ATR-72 aircraft by the end of 2019.

Announcing this at a press conference here on the occasion of its 4th Anniversary, Turbo Megha Airways Private Limited Director K V Pradeep, CCO Sudheer Raghavan and CFO K G Vishwanath said that the TrueJet has started its journey with two ATR-72 aircraft in July 2015, now operates 5 ATR-72 aircraft in its fleet and connects 20 destinations across the country.

They said that the new ART-72 aircrafts which would be inducted by October end this year will fly to six new destinations including four North-East cities—Rupsi, Cooch Behar, Banput with based point of Guwahati --and four other existing destinations frequencies would be increased.

Stating that that the Trujet was the first airline in India to have started operations to all the routes under UDAN 1 and 2, Mr Vishwanath said the Company has plans to start in more routes which were allotted under UDAN 3 and added that the aircrafts utilization hours were also increased upto 11 hours per day.

Stating that the company is profitable operationally during the last six-seven moths, Mr Vishwanath said that it had posted a Revenue of Rs 165 crore ( in top line) with a loss of Rs 84 crore (bottom line) in 2017-18, expecting 50 per cent growth in top line in 2018-19 (figures not disclosed due to auditing) with fraction reduction of losses (bottom line) and hoped it would be profitable during 2019-20.

Stating that the Truejet has fulfilled the dream of close to 1.9 million passengers in the last four years , Mr Vishwanath said it has 700 employees and 200-300 employees would inducted during the next six months.

Mr Vishwanath said the present Indian aviation growth was 12-15 per cent. The Truejet which has zero point five per cent market share is eyeing to achieve the same growth in 2019-20.

The company will go for public issue after two years, he added.

UNI VV CS 1530

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