TruJet to fly again, US co NS Aviation picks up 85% stake

Hyderabad: Over a year after it was grounded due to paucity of funds, no frills airline TruJet is gearing up to fly again with US-based NS Aviation acquiring 85% stake in the city-based carrier at a valuation of 450 crore.

TruJet, which flew its last flight on March 1, 2022, saw its air operator permit (AOP) suspended after it was forced to cease flights because of its inability to pay lease rentals for aircraft.

But armed with new funding the budget carrier is now hopeful of a revival and resumption of flights by end of 2023, its founder and managing director Umesh Vankayalapati told newspersons here on Monday.

“Our AOP was suspended but is valid till October 2024, after which we will have to go for renewal,” he said.