JetLite, formerly known as Air Sahara, is a wholly owned subsidiary of Jet Airways.
Jet Airways acquired JetLite from the Sahara India Parivaar in April 2007 in a deal worth Rs. 14.5 billion. Later in March 2012, as part of its rebranding exercise, Jet Airways consolidated JetLite and Jet Airways Konnect under the brand name Jet Konnect.
Positioned as a low cost carrier, JetLite operates around 250 flights on a daily basis to 46 destinations within the country. Since December 2012, the airlines shut down its international operations. Headquartered in Mumbai, the airline has hubs in Mumbai, Delhi and Kolkata. It has 12 leased aircrafts belonging to the Boeing 737 family as of 31st March 2014.
In terms of passengers carried, the company’s market share has persistently followed a declining trend. Consequently, its revenue has also been going downhill with a 13% y-o-y decline in 2013-14. Its operating margins have also further gone down in red to negative 13.3%. looking at the company’s poor financial health, its parent company Jet Airways plans to streamline domestic operations by creating a single master brand under which it will cover the whole fleet of JetLite.
No. of Passengers Carried in FY 2014-15: 3.0 million