Kuwait Airways
After India air market was deregulated in 1992, Kuwait Airways and Gulf Air participated in the formation of Jet Airways, each holding a 20% equity stake, with a total investment estimated in  million. Following the enactment of a law that banned the investment of foreign carriers in domestic Indian operators, both airlines had to divest their shareholding in the Indian company. Kuwait Airways' 20% stake in Jet Airways was sold to chairman Naresh Goyal for  million.