Airliners-India

747-237 · Posted: Thu Feb 24, 2022 6:01 am Post subject:

https://www.ch-aviation.com/portal/news/112935-indias-trujet-to-restart-ops-with-single-atr72

TruJet to restart ops with single ATR72

23.02.2022

TruJet (2T, Hyderabad Int'l) has announced it is resuming operations from February 23, listing eight routes, but it did not say anything about the USD25 million in funding it had claimed last week it was in talks with a potential investor to secure.

“As you are aware, TruJet operations were temporarily hampered due to various administrative and technical reasons from February 5. TruJet is pleased to inform that it is resuming operations from February 23,” Vankayalapati Umesh, the carrier’s managing director, said in a statement issued to local media on February 21.

In social media posts, it listed the routes it pledged to resume: Hyderabad Int'l-Vidyanagar, Vidyanagar-Bangalore Int'l, Bangalore-Bidar, Hyderabad-Rajahmundry, Hyderabad-Nanded, Nanded-Mumbai Int'l, Mumbai-Kolhapur, and Mumbai-Jalgaon.

Sources told the newspaper BusinessLine that TruJet would for now deploy one aircraft but that the company had recently succeeded in raising funds and planned to launch services on other routes once other aircraft in the fleet are operational.

A source told the newspaper The Hindu: “Next week onwards we will have another aircraft, and the week after that we may have one other aircraft.”

BusinessLine alleged last week that because of TruJet’s cash-flow crisis, lessors had reclaimed seven of its fleet of Avions de Transport Régional turboprops. The airline denied the allegations.

According to the ch-aviation fleets advanced module, TruJet has one active aircraft, ATR72-500 VT-TMP (msn 875) leased from Elix Aviation Capital. The rest of its fleet is stored or in maintenance at Ahmedabad, Hyderabad, and Mysore, namely four other -500s (two also courtesy of Elix and two leased from Aergo Capital) and a single ATR72-600 (leased from DAE Capital).
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The_Goat · Posted: Tue Mar 01, 2022 8:24 pm Post subject:

747-237 · Posted: Tue Apr 26, 2022 8:12 pm Post subject:

https://www.ch-aviation.com/portal/news/114908-lessor-looks-to-recover-atr72s-from-indias-trujet

Lessor looks to recover ATR72s from India's TruJet

26.04.2022

Elix Aviation Capital has set in motion efforts to recover three ATR72-500s currently on operating leases with troubled Indian carrier TruJet (2T, Hyderabad Int'l).

The Hindu newspaper reported last week that the Irish lessor had asked the Directorate of Civil Aviation (DGCA) to remove VT-TMK (msn 858) (stored at Ahmedabad) as well as VT-TMP (msn 875) and VT-TMU (msn 949) (both stored at Hyderabad Int'l) from the Indian register.

TruJet operates an all-Avions de Transport Régional fleet with two more ATR72-500s leased from ENT!AERG and a single ATR72-600 leased from DAE Capital, all of which are parked. Last year, DAE recovered one of two ATR72-600s from TruJet which has since been placed with flybig (S9, Indore). Despite earlier claims that TruJet would resume scheduled operations with a single plane, the flights never lasted beyond a few days.

“They (Elix) applied for three, however, only one aircraft is getting deregistered but that also we are trying to get it resolved. We are paying Elix USD1.2 million,” the airline's acting chief executive, Umesh Vankayalapati, told the paper.

He added that TruJet is in talks with an unspecified investor to secure the final tranche of a INR2 billion rupee (USD26 million investment).

“We have received INR300 million (USD3.9 million) so far from an investor out of the INR2 billion. We are expecting another INR500 million (USD6.5 million) in the next few days,” he said.

A source at Elix told the newspaper that the DGCA will likely complete the deregistration process given TruJet's debts have now accrued to over USD10 million. And despite Vankayalapati's assurances, the lessor is said to be "done" with TruJet.
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747-237 · Posted: Wed May 04, 2022 8:42 pm Post subject:

https://www.ch-aviation.com/portal/news/115121-indias-trujet-to-restart-after-us26mn-equity-injection

TruJet to restart after US$26mn equity injection

04.05.2022

TruJet (2T, Hyderabad Int'l) is to restart scheduled operations following a INR2 billion rupee (USD26.1 million) cash injection for a 79% equity stake by WinAir (We Indian Nationals) Aviation Pvt Ltd, part of India's Aaryan Group of Companies.

WinAir in a May 1 statement announced it would take over the management and operations of Trujet (renamed from Turbo Megha Airways (Hyderabad Int'l)) following an agreement signed on April 26, according to local media.

“By December, TruJet will fly 17 [undisclosed] aircraft a day along with three backup aircraft (ATR72-600), said WinAir Chairman and Managing Director Samuel Timothy.

WinAir is touted as India’s first “parallel airline” meaning it would use the equipment and operating permits of TruJet. “With our experienced team, we will revitalise TruJet through the infusion of fresh capital and improve its performance. Needless to say, the synergy will bring in more benefits for the end consumers,” Timothy said.

Umesh Vankayalapati would remain managing director of the Hyderabad-based regional airline. He and Timothy would guide the new management team with a new business plan, said the statement, adding the deal came as a major relief for TruJet’s 650 employees.

According to its website, the Aaryan Group is a multi-sector business involved in green energy, infrastructure, steel, media and entertainment, hospitality and IT, real estate, food and beverage, finance, education, business ancillary services, healthcare, gold refinery, petrochemicals, pharmaceuticals, electrical vehicles, and agriculture.

The investment was first touted via social media in February 2022 when Vankayalapati revealed the carrier was in talks with a potential investor. This came after it had suspended operations on February 15, 2022, following a reported cash-flow crisis.

Last month, lessor Elix Aviation Capital reportedly had set in motion efforts to recover three ATR72-500s on operating leases to TruJet.

According to the ch-aviation fleets advanced module, the airline's fleet currently comprises five ATR72-500s (including the three leased from Elix Aviation Capital and two from Aergo Capital) and one ATR72-600 leased from DAE Capital.
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