A UK based business group is planning to enter the Indian aviation sector by acquiring majority stake in Hyderabad-based Turbo Aviation.
Founded by V Umesh, Turbo Aviation is planning to launch a new airline called TruStar to run the commuter air services under UDAN scheme starting next year. It had earlier launched TruJet commercial airliner in addition to other services like aircraft maintenance and ground clearance in the past.
"We had signed an agreement with a large UK business group to dilute majority stake in Turbo Aviation in its favour. We will announce the name of our partner and other