Kingfisher, Jet Airways, SpiceJet surge, but will foreign airlines invest?

Shares in Kingfisher Airlines, SpiceJet and Jet Airways soared 27.4%, 17.8% and 13.8%, respectively, yesterday as speculation continued to mount the newly re-elected government may move forward with the relaxation of foreign investment rules on its airlines (which bar foreign airlines from directly or indirectly acquiring stakes). However, the chances of any foreign airlines having the spare cash (or executive time) to pitch for a stake in an Indian carrier are slim in the near term.