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Paramount Airways
ParamountAirwaysLogo.png
IATA
I7
ICAO
PMW
Callsign
PARAWAY
Founded 2005
Hubs Chennai International Airport
Frequent flyer program Paramount Royale
Fleet size 5 (+10 Orders)
Destinations 16
Company slogan A World of Difference
Parent company Paramount Group
Headquarters Chennai, India
Key people Mr. Thiagarajan (CEO)
Website www.paramountairways.com

Paramount Airways is an airline based in Chennai, India. It operates scheduled services, mainly targeting business travellers. Its hub is Chennai International Airport.[1] It is the first airline in India to launch the New Generation Embraer 170/190 family series aircraft.[2]

Paramount Airways is a premium service schedule airline flying direct to a number of commercial hubs in India, and connecting these to primary metros across the country. It is the only airline in India to offer full business class service at prices comparative to normal economy class fares of other airlines.

Contents

History

Paramount Airways Embraer E175 at Tiruchirapalli Airport

The airline started operations in October 2005. It was established by Madurai-based textile company Paramount Group.[1]

Destinations

Paramount Airways currently flies to 16 destinations throughout India.

Fleet

The Paramount Airways fleet consists of the following aircraft as of June 2009:

Paramount Airways Fleet
Aircraft In Service Orders Options Passengers
(First/Business)
Routes Notes
Airbus A321-200 10 10 150-160 (??/???) International Short Haul Order made at the 2009 Paris Air Show.[3]
Deliveries starting 2010.
Embraer E170 2 70 (0/70) Domestic Short Haul Leased directly from Embraer.
Embraer E175 3 75 (11/64)[4] Domestic Short Haul Leased from GECAS.
Total 5 10 10

As of June 2008 the average age of the Paramount Airways fleet was 3.4 years.[5]

On 14 July 2005, the company placed an order for five planes (2 Embraer 170 and 3 Embraer 175) at the 2005 Paris Air Show. The Embraer 170s would be leased directly from the manufacturer and the Embraer 175s would be leased through GECAS.

On 20 June 2009, Paramount Airways signed a memorandum of understanding (MoU) to buy ten Airbus A321-200 aircraft with an option for an additional ten. The agreement was concluded at the 48th Paris Air Show. The deal is being funded by the European Central Bank.

Expansion plans

Managing Director Mr. Thiagarajan said the airline would replicate its domestic model of all-business class configuration along with premium first class on its wide-body aircraft operating on international routes. The international flights will not have any economy class, and the airline would get its new wide-body aircraft custom-made for this purpose..On domestic circuit plans to fly soon to Mumbai, Nagpur, Bhopal.

Paramount Airways was closely evaluating the Airbus A330 and Airbus A350 from Airbus, as well as the Boeing 777 and Boeing 787 from Boeing Commercial Airplanes and was expected to place an order for 10 wide-body aircraft by June-July 2009, but finalised the Airbus A321 for its start-up international operations.[6][7]

The airline would complete the mandatory five-year period before beginning international operations in 2010, and it planned to launch its first international flight in the early 2011. The Paramount officials said Europe was the first on the agenda. Paramount Airways will start with connecting major European cities such as Rome, Vienna, London and Paris. The airline will also target the Middle East and the Far East with destinations like Singapore, Kuala Lumpur, Hong Kong, Bangkok and Seoul. It will cover all major Asian, European and Gulf cities before launching services to the United States.[8]

Mr. Thiagarajan said he hoped to assemble a fleet of 40 Embraer aircraft by 2010. All aircraft would be fully purchased by the airline, funded both from within as well as with assistance from banks.

Awards and recognition

  • Paramount Airways won the "Arch of Europe" Award[9]
  • Paramount Airways was awarded the "Award of Excellence" conferred by the Institute of Economic Studies[10]

References

External links

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