The largest private sector airline of India, Jet Airways is planning to do a sale-and-lease back transaction of four of its Boeing 737 aircraft in the June-September quarter. The company is also looking forward to develop its 2.5 acre plot in Bandra-Kurla-Complex (BKC) for commercial purposes during the June-September quarter.

The airline is also planning to have only one low-fare brand against the current two: JetLite and JetKonnect within the next two months.

Jet Airways had to postpone its commercial transactions several times in the past due to its current court case with the Sahara Group. The airline had bought Sahara Airlines which is now JetLite for a consideration of Rs 1,450 crore for Sahara Group.

The Vice President, Commercial Strategy and Investor Relations at Jet, KG Vishwanath said, “The court has given us permission to carry on business activity even though the next hearing is scheduled on August 3”. He added that the sale-and-leaseback and commercial development of their land at BKC will increase their cash flows and will help in improving their financial state.

Meanwhile, the shares of Jet Airways dropped Rs 492 on the Bombay Stock Exchange at 10.00hours because of its weak financial performance in the past.