India's leading airline, Jet Airways has expressed concerns over allowing foreign airlines to enter the Indian market.

Saroj Datta, Executive Director, Jet Airways said that if foreign airlines are allowed into the country with high investments, it will lead to a situation where the Indian skies will be dominated by international airlines.

He said, "The Indian airline industry is not faring very well, so few foreign investors would be interested in putting their money here, till the airlines can provide a good return."

He expressed that the foreign aviation firms are looking to create a market share int eh Indian markets. He said that the companies will provide cash, training and support and capture shares of Indian airlines.

"The whole purpose of opening up the skies for Indian airlines will be lost. We will be back to a situation where the international carriers control the skies," he added.

Meanwhile, the airlines have been advices to raise funds in order to operate in a going concern manner. The company's auditors said that the new funding will be very important for the company if the company's accounts are to be prepared on a going-concern basis in future. The recommendations were given in the limited review report of Jet's quarterly financial results by auditors, Deloitte Haskins & Sells and Chaturvedi & Shah.

The report was filed by Jet Airways with the stock exchanges Monday. The report noted that the net worth of JetLite had declined. Jet has sad that it is confident that it will get new equity soon. The company is planning to raise $300 million in sale and leaseback of 40 aircraft owned by the company.