April 26, 2007: The big profile buy in the Indian aviation is complete, and it is time now to think about the future. Jet chief Naresh Goyal is on the job and he has unveiled plans to ramp up his plans for a budget airline. The result is JetLite .

Jet Airways new budget airline, will see itself flying high in the budget space too. An industry report said that in a matter of six months, Jet’s newly acquired Air Sahara will rationalise routes, drop prices by 25 per cent and fly under the brand name of JetLite.

Intended to be light on the passenger’s pocket and to bring in light to the aviation industry, Jetlite will fly as a fully owned subsidiary venture.

At a Q& A session with one of the television channels, the Jet brass passed on questions regarding the money involved in the buy. The airline major has said that it was not picking up any debt and that it was taking on some current liabilities. They are backed by equivalent cash and guarantees, the top men added.

Meanwhile, the money reportedly spent, that is Rs 1450 crore, is seen by analysts as an expensive bargain. However, the Jet top brass believes that all that they have done has been done positive, both for the company as well as the airline industry. Jetlite, hopefully, will prove them right.