JetLite And Jet Konnect To Merge Under Single Brand By May (24-Jan-2012)
Jet Airways, country's largest private sector air carrier, likely to complete the merger of its two low-cost models, JetLite and Jet Konnect under a single brand by May. The company also aims capacity addition in low cost models. The company is likely to sell and lease off 77 aircrafts in Q4, which will help to pay off working capital loans and debt.
The company has posted a net loss of Rs 101.22 crore in the December quarter of 2011-12, against a net profit of Rs 118.23 crore in the corresponding period last fiscal. During the third quarter, loss from domestic operation was Rs 41 crore, and that from international operation Rs 61 crore.
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