Jet Lite to merge with Jet Airways

02 Sep 2015

Jet Airways will merge its wholly-owned subsidiary Jet Lite (India) Ltd with itself and will offer services under a single brand, subject to regulatory approvals.

The boards of Jet Airways and Jet Lite approved the merger on Wednesday.

The merger will further strengthen Jet Airways' efforts in providing a consistent, single brand product and service offering across the network, leading to a stronger market presence, the company said in a statement.

''Jet Airways has made demonstrable progress in the implementation of its three-year turnaround strategy with the objective of returning to profitability. The merger of Jet Lite into Jet Airways is a key step to strengthen Jet Airways' operations and create a seamless organisation, delivering exceptional service to its guests,'' said Naresh Goyal, Chairman of Jet Airways.

Consequent to the merger, Jet Lite will become part of Jet Airways and operate as a separate division of Jet Airways. This will result in more focused operational efforts, realising synergies in terms of compliance, governance, administration and costs.

The boards' approval follows an earlier decision taken by Jet Airways to streamline and align its domestic operations, creating a strong, uniform Jet Airways master brand and implementing a consistent, full service, single brand strategy across the entire domestic airline operation.

This move has been received well by guests and stakeholders, it added.

Recently, Jet Airways Group posted a significantly improved performance for the first quarter of FY16, achieving progress on all key fronts of the business with substantial growth in all major key performance indicators in a turbulent and competitive business environment.

Jet Airways Group currently operates a fleet of 116 aircraft, which includes a mix of Boeing 777-300 ERs, Airbus A330-200/300, Boeing 737s and ATR 72-500/600s.