Country's largest private sector air carrier Jet Airways today said it will complete the merger of its two low-cost models - Jet Lite and Jet Konnect - under a single brand by May.
"We are contemplating brand merger of Jet Lite and Jet Konnect. Jet Lite will cease to exist by April-May. We expect capacity addition in low cost models as well," a Jet Airways official told financial experts here.
Currently, the two no-frills brands that Jet operates are JetLite, which it bought from Sahara group, and Jet Konnect.
The official further said capacity addition would not be a concern for next 12-15 months.
"Out of our 100 aircraft fleet, 40 is owned and 60 is on lease. FY'13 will see revenues remaining flat and may see 5 per cent capacity addition," he said.
Also, the company said it expects to sell and lease off 77 aircrafts in Q4. "This will help pay off working capital loans and debt pay off. We have not taken any extension of lease expiry".
23/01/12 PTI/Economic Times
To Read the News in full at Source, Click the Headline
0 comments:
Post a Comment