Turbo Megha Airways, all set to fly low-cost carrier Trujet from July 12, is planning to invest Rs 500 crore on increasing fleet strength. The regional carrier, which currently has two aircraft, plans to have a fleet strength of five aircraft in a year. The company is also planning to set up a maintenance, repair and overhaul (MRO) unit for aircraft components in India.
The company is promoted by Vankayalapati Umesh, an aviation engineer with interests in ground handling business, and actor Ram Charan Tej, son of former Union minister K Chiranjeevi. Initially, the airline will fly to Tirupati and Rajahmundry. The carrier has acquired two 72-seater ATR-72 planes and would induct three more by January.
Trujet plans to operate regional air services to Rajahmundry, Bengaluru and Chennai from its base in Hyderabad.
According to Turbo Megha MD V Umesh, the airline expects to break even in three years. It is in talks with an Irish company for adding three aircraft and a bigger aircraft. The company has identified 18 tier-II city airports in south India where it will start operations, including Vijayawada, Vizag, Tirupati, Rajahmundry, Kadapa, Coimbatore and Salem.