Paramount eyeing for stakes in other airlines

Chennai: Paramount Airways aims at acquiring stakes in other airlines as part of its plans for a pan-India presence by 2011, according to its top official.
"If an opportunity comes up, Paramount is open to acquire stake in other airlines, provided the synergies and pricing factors are right," M Thiagarajan, Managing Director of the Madurai-based private airline, told the media.
"We have now clearly established a leadership role in the South with 26 per cent market share with a fleet of five aircraft and 1,600 flights every month," he said.
Paramount would move into other markets after further consolidating its position in the South.
"We will add to the fleet as we expand into the Western markets by 2008," Thiagarajan said.
Paramount had placed orders for 15 Brazian-made Embraer aircraft and five of these are already in operation.
15/05/07 PTI/Economic Times

To Read the News in full at Source, Click the Headline

Categories: Paramount Airways May 2007