India’s first Parallel Airline, WinAir, is acquiring a 79% stake in TruJet (Turbo Megha Airways Pvt Ltd) for 200CR. With the acquisition of the majority stake, WinAir ‘We Indian Nationals’ will take over the management control and operations of the company. Mr. Umesh Vankayalapati, Managing Director, Turbo Megha Airways Pvt. Ltd. has signed the term sheet agreement with WINAIR, Chairman & Managing Director Samuel Timothy on 26th April 2022.
Commenting on the occasion WinAir’s chairman and managing director Mr. Samuel Timothy said “Being a consumer-centric company that started with the idea of making air travel easy for every Indian. After the deal goes through, we’ll be one step closer to our dream. With our experienced team, we will revitalize 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. By December TruJet will be able to fly 17 aircrafts a day along with 3 backup aircraft (Aircraft ATR-600).”
With this arrangement, Umesh Vankayalapati will remain as the managing director and he along with Mr. Timothy will guide the new management team with a new business plan. TruJet’s 650 employees and their families also heaved a sigh of relief with this deal. Winair Aviation Private Limited is all set to roll out Scheduled Commuter Operations soon. WinAir is associated with the Aaryan Group of Companies, which are into various business streams like media & entertainment, infrastructure & real estate, food & beverage, hospitality, green energy, heavy industries, finance, education, business ancillary services, healthcare, gold refinery, petrochemicals, pharmaceuticals, electric vehicles, agriculture, and organic farming, etc. “By the virtue of this parallel approach, we could create a new system connecting cities and towns toeing in line with the present government concept of Make in India, Made in India. More viable routes could be planned in the future” said the excited chairman & managing director Mr. Timothy as he signed off for the moment.