Trujet grounds flights due to financial difficulties

Regional carrier Trujet, which is based in Hyderabad, has temporarily grounded operations as of February 16, 2022. Ostensibly, this is on the back of the financial troubles of the airline.

Trujet Grounds operations

Trujet began operations in July 2015 and operated with 7 ATR turboprops at the heights of its operations. However, many of its aircraft were taken away by the lessors over time, including one, VT-TMC, which was recently reassigned to Flybig, with the paint being done in India itself. Initial reports also are emerging that the C-suites at the airline have resigned.

Trujet ATR (Image courtesy Chinmay Barudwale/Wikicommons)

In a message posted on its social media handles, the airline claimed to be getting set for a new tranche of investments into the airline in the next few days, to the tune of USD 25 million and states that the new investor would like to bring in their own management. In the meantime, Trujet states “will appoint a new CEO in March and has been awaiting investments The operations are temporarily hampered because of various administrative and technical reasons and expects to resume its operations at short notice.”

 

As per data placed in the Parliament of India, TruJet has recorded an operating loss of INR 143 crore in the financial year 20-21, while in the financial year 19-20 the loss was INR 10.1 crores and in the financial year 18-19, it was INR 17.56 crores. Clearly, the high losses are on the back of the pandemic.

Trujet was a big player in the UDAN Regional Connectivity Scheme, whereby the Government paid a subsidy and offered exclusivity on routes to the lowest bidder for the first three years in exchange for them operating flights on the route. Airports such as Salem, Bidar and Kadapa were receiving only TruJet flights, and it will be a big blow for them.

Incidentally, the airline continues to sell tickets on its own website. And there is no notification on their own website that their operations have been suspended.

Bottomline

While Spicejet had near-death experiences back in 2014, when an airline declares a grounding, it has been hard to get back from it traditionally. Jet Airways, which went belly up in 2019, is still trying. We wish the best of luck to Trujet for getting back into the air at the earliest.

If you are a Trujet customer, did you hear from the airline directly about the suspension of their operations? Have they offered refunds?


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About Ajay

Ajay Awtaney is the Founder and Editor of Live From A Lounge (LFAL), a pioneering digital platform renowned for publishing news and views about aviation, hotels, passenger experience, loyalty programs, travel trends and frequent travel tips for the Global Indian. He is considered the Indian authority on business travel, luxury travel, frequent flyer miles, loyalty credit cards and travel for Indians around the globe. Ajay is a frequent contributor and commentator on the media as well, including ET Now, BBC, CNBC TV18, NDTV, Conde Nast Traveller and many other outlets.

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