Proposals to invest in ailing Malaysia Airlines include one from Air France-KLM SA (ENXTPA:AF) which wants as much as 49% while Japan Airlines Co., Ltd. (TSE:9201) is looking at a 25% stake, sources with knowledge of the matter said. Domestic carrier AirAsia Group Berhad (KLSE:AIRASIA) and Malindo Air, have also submitted proposals, the sources said. “The bids from the foreign carriers are more comprehensive and strategic as both plan to capitalize on the strategic location of Malaysia for their operations,” said one of the sources.

The sources declined to be identified as the discussions are confidential. Representatives for Air France-KLM, Japan Airlines (JAL), AirAsia and Malindo did not immediately respond to requests for comment.