Paramount in talks to buy Star Aviation

New Delhi: Chennai-based Paramount Airlines has sent feelers to a south-based regional carrier, Star Aviation, for a possible acquisition of the airline. Star Aviation got an operating licence in 2007, but has yet to start any flights.
“We are looking at acquisitions to expand and we are talking with Chennai-based Star Aviation,” said a senior executive of Paramount Airways.
Star Aviation Pvt Ltd, part of a Dubai-headquartered conglomerate, the ETA Star group, could not be spoken to for comments.
Paramount is the only airline in India to offer full business class service at prices comparable to the normal economy class fares of other airlines. It flies to 16 destinations in the country. The airline, which started operations in October 2005, operates five planes — two Embraer 170 and three Embraer 175. Established by the Madurai-based textile company, the Paramount Group, it has ordered 10 A321-200 aircraft for short-haul international routes to be launched next year.
Star Aviation has a fleet of three Embraer aircraft.
26/10/09 Mihir Mishra/Business Standard

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Categories: Paramount Airways Oct 2009, Star Aviation Oct 2009