TT Group plans foray into Europe and U.S. for air cargo business

TT Group Managing Director Arun Vasu said that plans are also on to expand insurance and skill business and set up centres of excellence throughout India.

City-based air cargo logistics major TT group is planning to expand its footprint in air cargo and insurance and skill business and to more than double its revenue in five years, said a top executive.

“TT group is planning to expand its air cargo business process management globally by foraying into the Europe, Middle East and U.S. markets,” said its MD Arun Vasu during the 40^th anniversary celebrations.

Besides, plans are on to expand insurance and skill business by entering Middle East and to establish centres of excellence throughout India.

“Today, as we celebrate 40 years, the partnership with International Airlines Group cargo in addition to other businesses continue to stand as a cornerstone of our success,” he said.

Besides air cargo logistics, the TT Group has successfully ventured into visa outsourcing services for Embassies and Consulates, Foreign Exchange and Money Changing operations, insurance broking, trucking, the hospitality sector as well as adventure water sports.

According to him, revenue from air cargo business is around ₹200 crore, trucking segment ₹30 crore, insurance broking ₹5 crore and hospitality and water sports ₹4 crore. The company hopes to achieve a revenue of ₹600 crore in the next five years.

As part of CSR activity, the company over the last 10 years has invested ₹15 crore in water sports. It is planning to train live guards and establish surfing centres in all major coastal cities in South India in two to three years.

TT Group was founded in 1984 by TT Vasu, a scion of the TTK family and youngest son of former Union Finance Minister, T.T. Krishnamachari.