As India Pushes For More Foreign Investment, Business Partnerships With Foreign Companies Are Falling Apart February 24, 2012, 2:48 am A host of foreign companies have split, sometimes very acrimoniously, from Indian partners and operations in recent weeks. The breakups have happened for a myriad of reasons, but the overall trend does not bode well for the Indian government's recent push for more foreign investment. Jan. 9: American Airlines said it would stop flying its Chicago-New Delhi flight as of March 1 and close its Delhi operations, citing the "historical financial performance of the route and its future outlook given the global economic climate and high oil prices." Feb. 3: The Oneworld alliance, a partnership of more than 140 airlines, said Kingfisher Airlines" entry, planned for years, had been suspended. "We have been working closely with Kingfisher Airlines over the past months and it has become increasingly clear recently that the airline needs more time to resolve the financial issues it is confronting before it can be welcomed into Oneworld," said its chief executive, Bruce Ashby. Feb. 15: Telenor Group of Norway said it would sever ties with its Indian strategic partner Unitech after India's Supreme Court revoked 122 telecom operators" licenses, following an investigation into how licenses were issued. "The legality and validity of the licenses was a fundamental term of the share subscription agreement between Telenor Group and Unitech Limited," said Pål Wien Espen, Telnor's general counsel, adding that the Supreme Court's move "conclusively demonstrates a clear breach of Unitech's warranties." Feb. 22: The United Arab Emirates mobile phone operator Etisalat says it will shut its Indian operations and split from its local partner, DB Group, decisions that were also related to the Supreme Court's license ruling. Etisalat will reconsider entering India when there is a clearer "telecommunications policy and greater legal and regulatory certainty and stability," the company said. The company is filing a lawsuit against DB Group, alleging fraud and misrepresentation, charges DB Group denies. Feb. 23: Citigroup plans to sell its stake in the Indian mortgage lender Housing Development Finance Corp., or HDFC, company executives tell reporters, winding down what was once a stake of more than 11 percent.