JNS,
You did not read what I had said...
I said, I think it would be interesting for 9W to obtain an AOC in Europe and set up a separate airline in effect for the A330. These A330 would be free of the Indian BS and rupee but could still operate to and from India.
This is exactly the kind of thing Air Asia has done.
Rumors have been around in the past at Jet looking to buy an EU AOC so I guess it has crossed their minds too.