Jet Airways today said that the aviation ministry has not approved its plan to merge Jet Airways and JetLite, effectively meaning that the two airline entities would operate under separate Air operator Permit.
“The Ministry of Civil Aviation has not approved the Scheme of Merger of Jet Lite (India) Ltd. With the Company, the same stands revoked, cancelled and shall have no effect as provided in para 18 of the Scheme. In view of the above, Jet Lite (India) Ltd. and Jet Airways (India) Ltd. shall continue their respective operations as two separate legal entities with their respective Air Operator Certificates,” the airline said in a filing to the Bombay Stock Exchange.
JetLite is a fully-owned subsidiary of Jet Airways that operates a fleet of 8 Boeing 737s, within India. Earlier, JetLite operated with a different brand name, which was called Jet Konnect. But that was discontinued and the airline now operates one full-service brand – Jet Airways.
Sources in the know said that the ministry may have rejected the proposal because there is no precedent of airline mergers in Indian aviation. Senior ministry officials could not immediately eb contacted for their version on the issue.