Jet Airways (Mumbai International) has called an extraordinary general meeting (EGM) with its shareholders and creditors to approve its proposed merger with its JetLite (Delhi International) subsidiary.

In a filing with the Bombay Stock Exchange (BSE), the carrier said the EGM had been scheduled for April 22 following approval from the Mumbai High Court.

Last year, Jet Airways' board agreed to go ahead with the move which, despite the merger of their financials, will see both carriers continuing to operate under their own respective Air Operators Permits (AOP). Jet Airways says the merger will result in better cost efficiencies.

JetLite was formed when Jet Airways successfully acquired Air Sahara (Delhi International) for USD340 million in 2007. It operated as a budget carrier until December 2014 when Jet Airways repositioned it as a uniform, full service airline across all platforms.

Currently, JetLite operates three B737-700s and five B737-800s on flights to thirty-two destinations across India.