Paramount in acquisition mood post deal

New Delhi: Fresh from a $2 bn deal with Brazil for 40 aircraft, Chennai-based niche carrier Paramount Airways today said it would like to acquire another airline at the earliest to strengthen its network in the North and Western parts of the country.
Asked if the Brazilian deal could slow down the company's pursuit of acquisition of another airline, Paramount Airways Managing Director M Thiagarajan said: "We would acquire it (as of) yesterday, if there was a right proposal."
While it would seek over 55 per cent of the funds required for the Brazilian deal from the debt market, the airline chief said there was no way they would go for a public offering.
"Paramount is traditionally a closely held group. We do not intend to go for an IPO or make a public offering. Our acquisition of aircraft or other investments will be funded through promoters equity, internal accruals and debt," he told PTI on phone from Chennai.
Asked about the reported interest of Paramount Airways in acquiring Wadias promoted GoAir, he said declined to name any specific carrier but admitted: "We are engaging with certain people".
06/06/07 PTI/Economic Times

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Categories: Paramount Airways Jun 2007