NEW DELHI: Regional airline Trujet said it is in talks with an investor to raise $25 million and will soon restart operations. “Trujet is in final stage of discussion with a potential investor who is funding $25 million within next few days,” V Umesh, managing director of Trujet, said in a statement.
This announcement came after Trujet temporarily suspended its aircrafts due to financial issues. It was operating with a single ATR-72 aircraft before grounding operations. With this, it became the only known carrier to have grounded its fleet and suspend operations during the ongoing Covid-19 pandemic. It also became the second carrier after Jet Airways to suspend operations.
The Hyderabad-based airline said that its management is doing their best to regain its previous glory and soon will touch the skies with more machines. Amidst rumours that all is not well with the company given its CFO, COO and CEO have left the airline in the recent past, Trujet said its former CFO- KG Vishwanath and COO- Sudheer Raghvan have left the organisation almost one year back.
The investor would like to bring his own panel of management, and in that process, Yoga has been appointed as CFO. “The investor is also in the process of finalising a new CEO who is well-versed and experienced in aviation and will be totally taking charge as CEO on 1st March 2022,” it said. Till such time, V Umesh, the managing director, will be the acting CEO for the company.