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Pictures | Mon Nov 26, 2012 | 8:50am EST

Struggling Indian airlines line up foreign investment

People look at a Jet Airways aircraft preparing to take off from the airport in Mumbai in this September 13, 2009 file photo. Loss-making carriers Jet Airways and SpiceJet are in talks with Abu Dhabi's Etihad Airways and Malaysia's AirAsia Bhd, respectively, to sell minority stakes, a government source said. Any deal would be the first since India changed its rules in September 2012 to allow foreign carriers to buy stakes of up to 49 percent in local airlines, which have been battered by fierce competition and high operating costs. REUTERS/Punit Paranjpe/Files

People look at a Jet Airways aircraft preparing to take off from the airport in Mumbai in this September 13, 2009 file photo. Loss-making carriers Jet Airways and SpiceJet are in talks with Abu Dhabi's Etihad Airways and Malaysia's AirAsia Bhd,...more

People look at a Jet Airways aircraft preparing to take off from the airport in Mumbai in this September 13, 2009 file photo. Loss-making carriers Jet Airways and SpiceJet are in talks with Abu Dhabi's Etihad Airways and Malaysia's AirAsia Bhd, respectively, to sell minority stakes, a government source said. Any deal would be the first since India changed its rules in September 2012 to allow foreign carriers to buy stakes of up to 49 percent in local airlines, which have been battered by fierce competition and high operating costs. REUTERS/Punit Paranjpe/Files
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India's SpiceJet aircrafts prepare for landing and take-off at the airport in Mumbai in this July 15, 2008 file photo. Loss-making carriers Jet Airways and SpiceJet are in talks with Abu Dhabi's Etihad Airways and Malaysia's AirAsia Bhd, respectively, to sell minority stakes, a government source said. Any deal would be the first since India changed its rules in September 2012 to allow foreign carriers to buy stakes of up to 49 percent in local airlines, which have been battered by fierce competition and high operating costs. REUTERS/Punit Paranjpe/Files

India's SpiceJet aircrafts prepare for landing and take-off at the airport in Mumbai in this July 15, 2008 file photo. Loss-making carriers Jet Airways and SpiceJet are in talks with Abu Dhabi's Etihad Airways and Malaysia's AirAsia Bhd,...more

India's SpiceJet aircrafts prepare for landing and take-off at the airport in Mumbai in this July 15, 2008 file photo. Loss-making carriers Jet Airways and SpiceJet are in talks with Abu Dhabi's Etihad Airways and Malaysia's AirAsia Bhd, respectively, to sell minority stakes, a government source said. Any deal would be the first since India changed its rules in September 2012 to allow foreign carriers to buy stakes of up to 49 percent in local airlines, which have been battered by fierce competition and high operating costs. REUTERS/Punit Paranjpe/Files
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A model of an Etihad airline plane is displayed during the opening of the Arabian Travel Market show in Dubai in this April 30, 2012 file photo. Loss-making carriers Jet Airways and SpiceJet are in talks with Abu Dhabi's Etihad Airways and Malaysia's AirAsia Bhd, respectively, to sell minority stakes, a government source said. Any deal would be the first since India changed its rules in September 2012 to allow foreign carriers to buy stakes of up to 49 percent in local airlines, which have been battered by fierce competition and high operating costs. REUTERS/Ahmed Jadallah/Files

A model of an Etihad airline plane is displayed during the opening of the Arabian Travel Market show in Dubai in this April 30, 2012 file photo. Loss-making carriers Jet Airways and SpiceJet are in talks with Abu Dhabi's Etihad Airways and Malaysia's...more

A model of an Etihad airline plane is displayed during the opening of the Arabian Travel Market show in Dubai in this April 30, 2012 file photo. Loss-making carriers Jet Airways and SpiceJet are in talks with Abu Dhabi's Etihad Airways and Malaysia's AirAsia Bhd, respectively, to sell minority stakes, a government source said. Any deal would be the first since India changed its rules in September 2012 to allow foreign carriers to buy stakes of up to 49 percent in local airlines, which have been battered by fierce competition and high operating costs. REUTERS/Ahmed Jadallah/Files
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AirAsia staff greet passengers arriving from Kota Kinabalu to the Low Cost Carrier Terminal in Sepang outside Kuala Lumpur in this December 8, 2011 file photo, during its 10th year anniversary celebrations. Loss-making carriers Jet Airways and SpiceJet are in talks with Abu Dhabi's Etihad Airways and Malaysia's AirAsia Bhd, respectively, to sell minority stakes, a government source said. Any deal would be the first since India changed its rules in September 2012 to allow foreign carriers to buy stakes of up to 49 percent in local airlines, which have been battered by fierce competition and high operating costs. REUTERS/Bazuki Muhammad/Files

AirAsia staff greet passengers arriving from Kota Kinabalu to the Low Cost Carrier Terminal in Sepang outside Kuala Lumpur in this December 8, 2011 file photo, during its 10th year anniversary celebrations. Loss-making carriers Jet Airways and...more

AirAsia staff greet passengers arriving from Kota Kinabalu to the Low Cost Carrier Terminal in Sepang outside Kuala Lumpur in this December 8, 2011 file photo, during its 10th year anniversary celebrations. Loss-making carriers Jet Airways and SpiceJet are in talks with Abu Dhabi's Etihad Airways and Malaysia's AirAsia Bhd, respectively, to sell minority stakes, a government source said. Any deal would be the first since India changed its rules in September 2012 to allow foreign carriers to buy stakes of up to 49 percent in local airlines, which have been battered by fierce competition and high operating costs. REUTERS/Bazuki Muhammad/Files
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