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 move will help Jet Airways strengthen its subsidiary JetLite's performance.
The airline will reconfigure its planes to add business class seats in its low-cost service
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.
JetLite was created in 2007, following the takeover of Air Sahara in April 2007.
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.
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."
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."
Some of its subsidiary airline JetLite's pilots have quit.
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.
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.
IndiGo continues to fly high as the top airline in India while crisis-hit SpiceJet has some good news.
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.
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.
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.
The delivery of nine Boeing 737-800s were scheduled between 2010 and 2012. These would now come in between 2012 and 2015.
Jet Airways on Thursday said it would introduce more flights on both its domestic and international networks.
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.
The proposed $400 million rights issue of Naresh Goyal-promoted private airline Jet Airways will hit the capital market by mid-October.
Jet Airways requires at least 200 more pilots to carry out its operations in a seamless manner
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.
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 made a stand-alone profit of Rs 87.5 crore (Rs 875 million).
Two associations representing pilots and engineers have written to SBI chairman Rajnish Kumar proposing that they would take over the airline and can bring in up to Rs 7,000 crore.
Both Jet Airways and Go First have met with a similar fate of landing up in insolvency, albeit for different reasons. Whether Go First will be able to avoid the sharp erosion in value like in the case of Jet, experts say, will depend on how quickly it is able to restart operations and retain its slots at airports. Go First, owned by the Wadia group, filed for voluntary corporate insolvency resolution on May 2 due to inadequate capacity utilisation that led to a cash crunch.
During the January-July period, passenger growth jumped 21.13 per cent to 455.78 lakh.
To introduce 'Guest First' programme to attract corporate customers; its market share and load factor lower than rivals
Jet's advertising and that of most other airlines has been limited to new routes or promotional fares.
Jet Airways on Thursday blamed a steep fall in the rupee, slowdown in the domestic aviation market and rise in fuel costs for a sharp widening in standalone net loss at Rs 891 crore in the July-September quarter.
A financial turnaround with the Etihad partnership and debt restructuring has not fully materialised.
Old-timers say Jet boss Naresh Goyal, although still razor sharp, doesn't have the same energy he once did and this reflects in his 'baby'.
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.
IndiGo's passenger load factor, at 67% in July, fell six percentage points from the same month last year.
The airline has two operating permits and offers both full service and no-frills service in the domestic market.
Konnect to be phased out as airline struggles to contain losses.
Jet Airways announced the launch of a new all-economy, no-frills service called Jet Airways Konnect starting May 8.
The airline notification to an exchange does not name the shareholder. It said the fund-raising would be subject to regulatory and corporate approvals.
The no-frills brand is poised for a big leap by debuting in some international routes as well.
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.
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