Friday, September 04, 2015

India's Jet Airways to absorb JetLite subsidiary

Following a meeting on Wednesday, September 2, the board of directors of Jet Airways (9W, Mumbai Int'l) resolved to merge the carrier's JetLite (S2, Delhi Int'l) subsidiary with its parent. While the two entities' financials will be merged, JetLite will continue to operate under its own Air Operators Permit (AOP).

A part of Jet Airways' restructuring plan aimed at returning to longterm profitability by 2017, the move will result in better use of available aircraft capacity while streamlining administrative and purchasing costs.

“Jet Airways has made demonstrable progress in the implementation of its three-year turnaround strategy with the objective of returning to profitability," Naresh Goyal, Chairman, Jet Airways, said. "The merger of JetLite into Jet Airways is a key step to strengthen Jet Airways’ operations and create a seamless organisation, delivering exceptional service to its guests.”
04/09/15 ch-aviation
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