Brazilian firm wants planes leased to Paramount grounded

New Delhi: ECC Leasing Co. Ltd, a wholly owned subsidiary of Brazilian aircraft maker Embraer EBA, has asked aviation regulator Directorate General of Civil Aviation (DGCA) to de-register two planes it had leased to Paramount Airways Pvt. Ltd, citing non-payment of dues, said two DGCA officials.
Three aircraft from Paramount’s fleet of five have already been de-registered by the DGCA this month after a similar dispute with GE Commercial Aviation Services Llc (GECAS), part of the conglomerate General Electric Co.
On Tuesday, the Supreme Court dismissed the airline’s petition asking for a stay on the de-registration of the GECAS aircraft.
Airlines cannot fly planes that are de-registered by the regulator. Paramount is currently running its operations with a single aircraft as the fifth plane is under maintenance.
Senior advocate K.K. Venugopal urged the Supreme Court to allow Paramount to fly the planes, and made an offer of depositing $1 million (Rs4.49 crore). But a bench headed by chief justice K.G. Balakrishnan asked Paramount to pay the entire sum or at least a substantial part of the dues to GECAS.
30/03/10 Tarun Shukla and Manish Ranjan/Live Mint

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Categories: Foreign Mar 2010, Paramount Airways Mar 2010