Jet Airways (Mumbai International) is reportedly in early talks with Indian Low Cost Carriers (LCC) concerning the possible sale of some, if not all, of its struggling budget subsidiary, Jet Konnect (Mumbai International).
India's Economic Times quotes unidentified sources as saying Jet management has already sent out feelers to local budget carriers.
"It is not clear whether they would like to sell the brand of JetLite as well, but as far as operations and planes are concerned, Jet Airways in interested in selling," the source said. "Some promoters of low cost airlines in India have been reached by Jet Airways promoters with intent to sell the JetLite operations."
On posting a INR41.3billion (USD689million) loss for the year ending March 31, 2014, Jet Airways management announced a far-reaching restructuring plan aimed at turning the struggling carrier's fortunes around. Among the measures it plans to adopt are the delineation and establishment of a more distinctive Jet Konnect brand that is more independent of its Jet Airways parent, the reconfiguration of more aircraft to all Economy Class configuration and job cuts.
Previously JetLite (Delhi International), Jet Konnect was formed when Jet Airways successfully acquired Air Sahara (Delhi International) for USD340million in 2007. Since then, the airline has been equipped with a fleet of B737s used on flights throughout India. Many Jet Airways mainline aircraft also operate under the Jet Konnect brand however, including its entire fleet of ATR72s.
