Jet had been operating two similar, low cost services under two different brand names, Jet Airways Konnect & Jet Lite for quite some time now.
The airline will reconfigure its planes to add business class seats in its low-cost service
A day after withdrawal of low fares by some major airlines, Jet Airways and its low-cost subsidiary JetLite have introduced Rs 300 and Re 1 as basic fares respectively under 30-day advance purchase scheme.
JetLite was created in 2007, following the takeover of Air Sahara in April 2007.
Faced with heavy losses, budget carrier JetLite has shelved plans to fly abroad. It will also stop 20 of its 131 daily flights within the country and ground three of its 18-strong fleet of Boeing 737s.
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.
Confirming this, Jet Airways' CEO, Wolfgang Prock-Schaeur, said, "In the process of integrating the airlines, which is a must to keep JetLite afloat, there will be a shift of certain employees from JetLite to Jet and the workforce for both the airlines will be combined."
The move will help Jet Airways strengthen its subsidiary JetLite's performance.
Speaking to Business Standard, Jet Executive Director Saroj Datta said: "SpiceJet and JetLite are an absolute fit in so far as their business models are concerned."
Three months after joining the budget carrier JetLite, Finnish CEO Maunu von Lueders plans to quit the organization at a time when its parent Jet Airways intends to merge the back-end operations to cut costs.
Value-carrier JetLite, formerly full-service airline Air Sahara, which was bought by Naresh Goyal last year, will offer a voluntary separation scheme to 750 employees who have been with the airline for one year or below, Chief Operating Office Rajiv Gupta confirmed on Friday.
The delivery of nine Boeing 737-800s were scheduled between 2010 and 2012. These would now come in between 2012 and 2015.
India's latest airline will now fly in a swirl of blue. Four months after being taken over by Jet, the erstwhile Air Sahara in its new avatar as JetLite is already showing signs of perking up while readying its new livery.
Jet is believed to be in talks with leading private equity players.
Sources say the arilines has inducted a senior pilot from IndiGo to head its safety team.
The government's contention was that Sahara Airlines Ltd (now JetLite) was promoting the real estate and housing business and area operations of Sahara India Commercial Corporation.
More than five years ago on an April evening, cash-starved Jet Airways announced temporary grounding of operations after flying as a full service airline for 25 years. Since then, more than 20,000 jobs and money worth thousands of crores owed to lenders, vendors and passengers evaporated while awaiting an insolvency resolution. And today, the Supreme Court ordered the airline's liquidation, marking the formal completion of a turbulent journey into the sunset and shattering lean revival hopes.
IndiGo continues to fly high as the top airline in India while crisis-hit SpiceJet has some good news.
The airline has two operating permits and offers both full service and no-frills service in the domestic market.
JetLite, which was acquired by Jet Airways for Rs 1,450 crore, is operating three of its seven Canadian-built Bombardier airplanes. JetLite has a total 24 aircraft, including Boeing B737s.
Some of its subsidiary airline JetLite's pilots have quit.
According to media reports, Jet Airways had announced a staggering 50-per cent cut in its basic fares across all domestic routes following a dip in the passenger load factor and fuel prices. The cut in basic fares would be applicable to all domestic routes undertaken by Jet and its low-cost arm, JetLite, the reports added.
In a dramatic turn of events in May 2019, an Emirates aircraft en-route to Dubai was asked to stop while it was taxiing for a take off in Mumbai. The pilot was given no reason and ordered to immediately return to the parking bay. As the aircraft returned to the terminal, two passengers from the first class - Naresh Goyal and his wife Anita - were offloaded by the immigration authorities, who said the duo cannot leave the country. Goyal, founder of Jet Airways, was stunned. The man, who ruled the aviation sector for two and a half decades with an iron hand, did not expect to be offloaded in this fashion.
Konnect to be phased out as airline struggles to contain losses.
The Enforcement Directorate late on Friday arrested Jet Airways founder Naresh Goyal in a money laundering case linked to an alleged bank fraud of Rs 538 crore at the Canara Bank, official sources said.
The Enforcement Directorate on Wednesday said it has attached in London, Dubai and India assets worth Rs 538 crore of Jet Airways founder Naresh Goyal, his family members and companies as part of a money laundering investigation linked to an alleged bank loan fraud. The attached properties include 17 residential flats, bungalows and commercial premises. Located in London, Dubai and various cities in India, these properties are in the name of various companies like Jetair Private Limited and Jet Enterprises Private Limited, Goyal, his wife Anita, and son Nivaan, the central agency said in a statement.
Jet Airways on Wednesday said that it has raised the fuel surcharge on tickets by Rs 400 across all domestic sectors. The newly decided fares have been made applicable from June 17.
The no-frills brand is poised for a big leap by debuting in some international routes as well.
Jet Airways chairman Naresh Goyal on Tuesday met civil aviation secretary Madhavan Nambiar on Tuesday against the backdrop of pilots of the private carrier refusing to report to work to protest against the sacking of two of their senior colleagues.
Jet Airways announced the launch of a new all-economy, no-frills service called Jet Airways Konnect starting May 8.
Jet Airways on Thursday said it would introduce more flights on both its domestic and international networks.
Jet Airways made a stand-alone profit of Rs 87.5 crore (Rs 875 million).
Jet Airways, the largest domestic airline, will merge its no-frills brands JetLite and Jet Konnect and operate under the brand name of the latter.
Jet Airways on Monday awarded $750-million contract to a leading Singaporean firm for maintenance support to engines of its 67-strong Boeing-737 fleet over the next 10 years.
In a special gesture towards armed forces, Jet Airways has announced a 50 per cent discount on base fares for all serving and retired defence and paramilitary personnel and their families.
Jet will have 56 flights (around 9,400 seats a week) from four destinations from New Delhi, Mumbai, Kochi and Kozhikode to Bahrain and Doha (non-stop), Muscat and Kuwait, and cater to the middle and upper ends of the market.
Jet Airways and Kingfisher will operate an additional flight each from Delhi and Mumbai to Chandigarh, which is adjacent to Mohali.
Much before its sack order to 1,900 employees turned into a publicity nightmare, Jet Airways had handed marching orders to 1,000 workers and even managed to keep it under wraps.
Move a protest against withdrawal of commissions.
"The markets do not remain the same forever but still, anything that makes sense to Jet Airways' shareholders will make sense for the promoters as well," Goyal said. Together with JetLite, formerly Air Sahara, which Jet bought last year, the airline controls over 29 per cent of the Indian domestic market.
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