US-based NS Aviation acquires 85% stake in India’s TrueJet

US-based NS Aviation has acquired an 85% stake in the Indian budget airline TrueJet, which ceased operations in 2022 due to financial troubles. Speaking on the recent acquisition, Isha Ali, Vice Chairman, NS Aviation said: “The total valuation of the deal was around INR 1400 million and the transaction would be completed soon. The airline plans to focus on domestic operations and have flights connecting key metro cities such as Mumbai, New Delhi, Kolkata, and Hyderabad. The airline will cover international destinations too, but that will be done after 18 months, once the airline strengthens base in India.” Talking about the