Paramount plans to fly abroad, talks on for aircraft

New Delhi: Paramount Airways Pvt. Ltd is in talks with aircraft makers Boeing Co. and Airbus Industrie to buy six wide-bodied planes with an aim of launching international operations by fiscal 2011.
The airline, which has so far restricted itself to southern India with an all-Embraer fleet of five leased aircraft, also plans to establish a new aircraft maintenance facility in Madurai in collaboration with Brazilian aircraft manufacturer Empresa Brasileira de Aeronáutica SA at an estimated $40-60 million (Rs161-242 crore) investment.
“We are evaluating both wide-bodied aircraft—(Boeing’s) 787 and 350 XWB (Xtra Wide-Body of Airbus),” said Paramount’s chairman M. Thiagarajan on the airline’s growth plans. He did not specify when the deal could be sealed.
Dinesh Keskar, vice-president for sales at Boeing, confirmed initial talks with Paramount.
Paramount’s five 70-seater aircraft are capable of flying four hours non-stop and may also connect nearby destinations in South-East Asia such as Singapore if the government relaxes rules for flying international routes.
20/09/07 Tarun Shukla/Livemint

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

Categories: Foreign Sep 2007, Paramount Airways Sep 2007