City-based Turbo Megha Airways expects operational break-even in six months banking on regional routes for better occupancy rate, its managing director V Umesh said on Wednesday.
The startup airline launched on Tuesday after receiving flying licence from the Directorate General of Civil Aviation (DGCA), is also planning to increase the fleet size to five from the current two, he said.
"We expect operational break-even in six months. Our model is different. We would be catering to regional routes, not metro routes (where some airlines incur loss)," Umesh told PTI. Turbo Megha is the fourth in line to take on the Indian skies in the past two years.
The company, partially owned by actor-turned-politician Chiranjeevi's son Ram Charan, would operate the regional airline under the brand name 'Trujet'.
Umesh declined to reveal the current equity structure and investment that went into the company so far.
Promoters of a city-based infrastructure firm are actively considering to pick good amount of stake in the company, sources said.
"Flight operations will begin from July 12. We will operate four flights initially and gradually increase," Umesh further said.
According to him, the airways will launch Hyderabad-Tirupati-Hyderabad and Hyderabad-Rajahmundry-Hyderabad flights.
Umesh said the new carrier has already acquired two 72-seater ATR-72 planes and would induct three more by January next year. Trujet plans to operate regional air services to Rajahmundry, Bengaluru and Chennai from its base Hyderabad.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
