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MARKET EYE-Jet Airways, SpiceJet to post profits by Q3-Merrill

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* Bank of America-Merrill Lynch reiterates its 'buy' ratings onJet Airways

and SpiceJet.

* Indian airlines in the near-term will benefit from a strongerrupee

, the temporary shutdown of Kingfisher

,

capacity discipline, and improvements in utilisation and yield.* Merrill still expects Jet Airways and SpiceJet to post lossesin the second quarter of fiscal 2012/13 but expects the thirdquarter to be profitable.* Jet Airways rallies 2.7 percent, SpiceJet ends flat.

(abhishek.vishnoi@thomsonreuters.com)