Indian Government Blocks Merger of Jet Airways and JetLite

The Indian government has formally rejected the proposed merger of Jet Airways and JetLite, its regional low-cost subsidiary. The decision comes three years after the airline's board approved the merger. In a filing to the Bombay Stock Exchange, Vice President of Global Compliance and Company Secretary Kuldeep Sharma said that "JetLite (India) Ltd. and Jet Airways (India) Ltd. shall continue their respective operations as two separate legal entities with their respective Air Operator Certificates." JetLite, previously known as Jet Konnect,…