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Truejet to expand footprint through new aircraft acquisition and turn profitable in a year

Truejet’s ATR 72 Aircraft ( Photo courtesy-Truejet)

Hyderabad based regional Airline Truejet celebrated its 4th anniversary of operations on Friday, yesterday wherein it showcased its future charter of growth through new aircraft acquisition, adding new routes and tread a path of ingenious way of rising non ticketing revenue to turn profitable in the year 2020.

  • The airline floated by India’s leading Infrastructure major MEGHA Engineering & Infrastructure Ltd, through Turbo Megha Airlines completed 4 eventful years of operations in the tumultuous aviation scenario of the country that saw the closure of many of its regional Airline peers biting the dust. The airline which operates under Brand name TRUEJET emerged as a major regional Airline player in the country with steady growth of passengers and new air routes. The airline bagged more routes under the ambitious UDDAN scheme of the Federal Government is chartering the aircraft acquisition spree to start those routes in the second half of 2019-20 Financial year.
Director K V Pradeep,CFO Vishwanath Col. Murthy CEO, Sudheer Raghavan-Chief Commercial officer speaking to the Media on the occassion of 4th Anniversary of TRUEJET
  • The airline presently operates with 5 ATR 72 Aircraft to 20 destinations in the country connecting Tier2 and Tier 3 cities with the trunk routes.
  • Truejet presently operates out of Two Hubs viz Hyderabad and Ahmedabad and will soon add Guwahati as its Third Hub to service the North East routes.
  • With around 1200 Flights a month, the Airline Carried around 840000 passengers last year and hope to double that count with the acquisition of 5 more Aircraft by end of 2019.
  • The Airline reported a Top line of Rs.165 Crores and reported a loss of 84 Crores last year.
  • With new routes and additional aircraft, TRUJET is poised to achieve a top line of Rs.300 Crores and turn into profitable.
  • The management chalked out the profitable route by increasing the Non Ticket revenue in the form of advertisement of aircraft assets, Third party flight operations and last mile connectivity agreements with global airlines.
  • The management is conscious of improving the yield on the route passenger kilometer to turn profitable by 2020.

Rambabu V ( Through Agency inputs)

 

 

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