Government rejects Jet Airways, Jet Lite merger plan (Lead)
Wednesday - May 9, 2018 10:58 pm ,
Category : BUSINESS
Mumbai May 9 (IANS) The Central government has "not approved" the merger scheme between Jet Airways and its subsidiary Jet Lite the company said on Wednesday.
"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... " the company said in a BSE filing.
Accordingly the company said that Jet Lite and Jet Airways shall continue with their respective operations as "two separate legal entities with their respective air operator certificates".
"Jet Airways respects the decision of the Ministry of Civil Aviation (MoCA) on the proposed scheme of merger " a Jet Airways spokesperson said.
--IANS
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