Jet Airways to Ditch Budget Unit in Search for Profit - Bloomberg

Jet Airways to Ditch Budget Unit in Search for Profit - Bloomberg:



"Jet Airways India Ltd. (JETIN), the Indian carrier 24 percent owned by Etihad Airways PJSC, will end its budget-airline units in an effort to turn its local operations profitable, Chairman Naresh Goyal said.



The airline will close its Jetlite and JetKonnect businesses by the end of this year and fly all its planes under a single, full-service brand, Goyal told reporters today in Mumbai. The move will help it achieve its target of making a profit by 2017, he said.



“We are in this to make money,” Etihad President James Hogan said at the same event. Jet’s strategic location in South Asia puts it in a position to compete with Middle Eastern airlines on outbound traffic from India, one of the fastest growing aviation markets in the world."



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