Jet needs Rs 200 crore for revival of JetLite

Mumbai: Jet Airways, the country’s largest private airline would require Rs 200 crore immediately to revive its 100 per cent subsidiary and value carrier JetLite, which is expected to make profits by October-November this year.
JetLite is the new brand name of Lucknow-based airline Air Sahara after Jet Airways acquired it for Rs 1,450 crore in April this year.
K G Vishwanathan, general manager (finance & investor relations), Jet Airways, said it was in the process of integrating the JetLite operations including sharing the skilled personnel (pilots and engineers), airport-related infrastructure and releasing office space.
He declined to disclose the financial details of JetLite, adding “it would need about Rs 200 crore immediately to revive the operations”. At present, 17 aircraft of JetLite are flying out of the total 24. “Two more aircraft would be operational by this month-end and the remaining five would be flying by October,” he said.
Jet Airways Chief Executive Officer Wolfgang Prock-Schauer said JetLite would be profitable by October-November, when actual peak season starts.
27/06/07 P R Sanjai/Business Standard

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Categories: Jet Airways Jun 2007, Jet Lite Jun 2007