{"id":17809,"date":"2022-02-16T15:52:47","date_gmt":"2022-02-16T10:22:47","guid":{"rendered":"https:\/\/aviationa2z.com\/?p=17809"},"modified":"2023-06-20T01:10:37","modified_gmt":"2023-06-19T19:40:37","slug":"all-trujet-aircraft-grounded","status":"publish","type":"post","link":"https:\/\/aviationa2z.com\/index.php\/2022\/02\/16\/all-trujet-aircraft-grounded\/","title":{"rendered":"Indian regional carrier TruJet grounded all aircrafts due to financial issues!"},"content":{"rendered":"\n

All aircraft of TruJet<\/strong> have been grounded even as the company is struggling to stay afloat due to financial issues. <\/strong><\/p>\n\n\n\n

At least five out of seven aircraft have been taken back by the lessors while two others are in the process of being deregistered. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

The airline\u2019s CEO, CFO, and CCO have quit in the past month, and .TruJet has not paid salaries to its employees for at least three months now, said sources. <\/p>\n\n\n\n

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BusinessLine <\/em>has learned from multiple sources that TruJet<\/a> has been facing an acute cash crunch for at least a year now with no investors in sight. \u201cDue to continued non-payment of dues, at least five aircraft were deregistered over the past three months, while the other two are in process,\u201d <\/strong>said a source. <\/p>\n<\/blockquote>\n\n\n\n

BusinessLine<\/em> had reported in June last year that the company had failed to pay complete salaries to its employees, and was functioning on only one aircraft. \u201cIt continued to pay half salaries till October. Since November, the employees have not seen a penny.\u201d <\/em><\/p>\n\n\n\n

At least 100 employees, including pilots, cabin crew, ground staff have quit the company.
Not only that, the senior management \u2014 CFO KG Viswanath, CCO Sudheer Raghavan, CEO Rtd Col LSN Murthy \u2014 too have deboarded the company.\u00a0<\/p><\/blockquote><\/figure>\n\n\n\n

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One of the persons named above said: <\/p>\n\n\n\n

\u201cI don\u2019t see a reason to be a part of the company anymore. <\/p>\n\n\n\n

There have been lots of words and nothing has fructified in actions. <\/p>\n\n\n\n

There is no investor yet, and I don\u2019t know if and when one will come.<\/p>\n\n\n\n

It\u2019s only a matter of time one of the operational creditor drags the company to the NCLT.\u201d<\/p>\n<\/blockquote>\n\n\n\n

New appointments – TruJet<\/h2>\n\n\n\n

According to Megha Engineering & Infrastructures Limited (MEIL), <\/strong>it had sold off the company to Vankayalapati .Umesh, the previous owner of TruJet, who then took over as the Managing Director of the airline. <\/p>\n\n\n\n

\"All<\/figure>\n\n\n\n
Messages sent to MEIL\u2019s group director, KV Pradeep, and its communications team remained unanswered.<\/pre>\n\n\n\n
When contacted, Umesh said the position for the CFO had been filled by A Yoganarasimhan, and addedthat a . CEO, too, will be appointed soon, until which time he will be the acting-CEO. The airline will be onboarding an investor soon, added Umesh.<\/p>\n\n\n\n
Stay Tuned and Informed with us!<\/p>\n\n\n\n
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TruJet Might Make Greatest Comeback with the Help of US-Based NS Aviation<\/a><\/blockquote>