Jet Airways is planning to cut one of its low-fare brands— JetLite and JetKonnect — within the next two months.
Jet acquired JetLite from the Sahara Group in 2007, then called Air Sahara. But the acquisition got into a legal tangle. A high court ruling in May upheld that the value of the takeover deal was Rs1,450 crore as against Sahara’s claim of Rs2,000 crore. Jet is now free to consider a sale and leaseback option as well a merger for JetLite.
JetLite has a fleet of 18 aircraft, all of which are leased. Jet Airways has a standalone fleet of 97 aircraft. JetKonnect is used according to demand and it operates around 170 flights daily, while JetLite operates around 110 flights on an average.