Wednesday, August 30, 2006

Paramount to pay $580m for 15 Embraer aircraft

Mumbai: The Coimbatore-based Paramount Airways will place an order to buy 15 aircraft for $580 million (Rs 2,600 crore) with the Brazilian manufacturer Embraer.
Sources close to the development said the airline is looking at acquiring ten 86-seater Embraer 175 model aircraft and five 118 seater Embraer 195. The list price of Embraer 175 is over $35 million while Embraer 195 comes for $46 million.
This is in addition to the earlier order the airline had placed with the Brazilian company for 15 Embraer 170, Embraer 175 and Embraer 195 group of aircraft for a total outlay of $525 million.
M Thiagarajan, managing director, Paramount Airways, refused to comment on the issue. However, sources confirmed that the deal will be inked by mid-September.
29/08/06 P R Sanjai/Business Standard
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