Hyderabad: Trujet, jointly promoted by Hyderabad-based entrepreneur Vankayalapati Umesh and Tollywood actor Ram Charan, is looking at investing about Rs 500 crore to add three more aircraft to its existing fleet of two. Turbo Megha Airways Pvt. Ltd., which operates the aircraft is also planning to set up a component MRO in Shamashabad, added a top official of the company.
“We have a number of investors on our board and have raised equity, but are not looking at any debt in the future. We currently have two aircraft and plan to take it to three by September, 2015 and by the end of the year we wish to add three more aircraft by investing '500 crore,” said Mr Umesh, managing director, Turbo Megha Airways Pvt. Ltd.
The company, which will start its maiden flight on July 12 from Hyderabad to Tirupati and Rajahmundry, is also aiming at achieving break-even in the next three to four years. In addition, the company is also looking at setting up a MRO unit for aircraft components in India, which Mr Umesh claims is the first one in entire South India and he hopes to start its operations by this year-end.
Talking on the sidelines of the launch, brand ambassador and co-promoter of the aircraft, K. Ram Charan Tej, said, “Our aim of starting this aircraft was to offer quality service at a low-cost price. We will be offering various incentives to customers like senior citizens, south India cine artists and students below 18 years of age will get 10 per cent discount on the basic fare. We will also be providing free transportation service to nearest airport from the city.”
