WinAir (We Indian Nationals) Aviation Pvt Ltd, dubbed India’s first parallel airline, has announced the purchase of a 79 percent ownership stake in Turbo Megha Airways Pvt Ltd’s Hyderabad-based regional carrier TruJet for Rs 200 crore.
A parallel airline is one that operates using a current airline’s equipment and operating permits while maximizing the usage of leased aircraft and idle hours on lucrative routes.
WinAir announced on May 1 that it would take over the management and operations of TruJet. On April 26, WinAir’s chairman and managing director Samuel Timothy and TruJet’s managing director Umesh Vankayalapati signed a term sheet agreement, according to WinAir.
“Through the infusion of fresh capital and our skilled team, we will reinvigorate TruJet and increase its performance,” Timothy stated. “It goes without saying that the synergy will benefit end-users more. TruJet will be able to operate 17 aircraft per day by December, with three backup aircraft (ATR-600).”
