Paramount Airways: Difference between revisions
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Revision as of 07:27, 3 September 2008
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| |||||||
| Founded | 2005 | ||||||
|---|---|---|---|---|---|---|---|
| Hubs | Chennai International Airport | ||||||
| Fleet size | 5 | ||||||
| Destinations | 9 | ||||||
| Holding company#Parent company | Paramount Airways | ||||||
| Headquarters | Madurai, India | ||||||
| Key people | Mr. Thiagarajan (CEO) | ||||||
| Website | http://www.paramountairways.com | ||||||
Paramount Airways is an airline based in Madurai, India. It operates scheduled services, mainly targeting business travellers. Its hub is Chennai International Airport.[1]
History
The airline started operations in October 2005. It was established by Madurai-based textile company Paramount Group.[1]
Destinations
Paramount Airways currently flies to 9 destinations throughout South India. The airline added its 9th destination on June 30, 2008 when it resumed service from Trichy, Tamil Nadu.
Fleet
The Paramount Airways fleet consists of the following 5 aircraft as of February 15, 2008:
| Aircraft | Total | Orders | Options | Registration | Engine | Passengers (Business) |
Routes | Notes |
|---|---|---|---|---|---|---|---|---|
| Embraer E-170-100LR | 2 | 0 | 0 | VT-PAB,VT-PAC | GE CF34-8E5 | 70 | Short haul | Launch customer in South Asia |
| Embraer E-175-200LR | 3 | 0 | 0 | VT-PAD,VT-PAE,
VT-PAF |
GE CF34-8E5 | 86 | Short haul | Launch customer in South Asia |
As of June 2008 the average age of the Paramount Airways fleet was 3.4 years.[2]
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 GE Commercial Aviation Services. The airline is planning to place an order of up to 15 aircraft with Embraer (ten 86-seater Embraer 175 and five 118-seater Embraer 195) in phases within the next 36 months. [citation needed]
With a fleet induction of 7 aircraft in 2008, the airline would add on another 15 more by end 2009, taking the total fleet strength to 27. As planned earlier the airline will have a large fleet of 40 aircraft by end 2010 with maximum connectivity in South, West and Northern markets.
Expansion Plans
Paramount Airways plans to launch its first International Flight in early 2011
It will replicate its Domestic Model of all-Business class service on International Routes
Paramount Airways is set to announce the purchase of its first wide-bodied aircraft in the coming week.
Paramount Airways was in the final stages of negotiations with aircraft manufacturers Airbus and Boeing and would announce a deal with one of them after discussions at the Singapore Airshow.
The Airline is closely evaluating the Airbus A330s and Airbus A350s from Airbus S.A.S., as well as the Boeing 777s and Boeing 787 Dreamliners from Boeing Commercial Airplanes,If everything goes, as planned, the airline will be announcing a deal soon. Whether it happens during the airshow or subsequently soon after depends on how fast they get the contracts sorted.
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, Hong Kong, Bangkok and Seoul.
Managing Director Mr. Thiagarajan said the airline would replicate its domestic model of an all-business class service on international routes too. The flights would not have any economy class, and the airline would get its new wide-bodied aircraft custom-made for this purpose.
Paramount Airways would also substantially expand its domestic fleet, adding two Embraer aircraft in April and six more by the end of the year, taking its fleet strength to 13.
Mr. Thiagarajan said he hoped to assemble a fleet of 40 aircraft by 2010. All aircraft would be fully purchased by the airline, funded both from within as well as with assistance from banks.
The two new Embraer jets will be based in Bangalore, as the airline begins its first operations to western India with flights to Pune and Goa. It will also launch services to Kozhikode and Trichy by April-end.
Mr. Thiagarajan said the airline hoped to “saturate” the western Indian market by the end of next year. Following Pune and Goa, it will begin services to Ahmedabad, Vadodara and Mumbai this year.
“Just as how we have saturated the south, our next ambition is to saturate the entire western region by the end of 2009,” he said. “In a way, the western market is more evolved for business travellers, so we think it will be more attuned to accepting our kind of business model.”
Awards and recognition
- Paramount Airways won the "Arch of Europe" Award
- Paramount Airways was awarded the "Award of Excellence" conferred by the Institute of Economic Studies
External links
References
- ^ a b "Directory: World Airlines". Flight International. 2007-04-10. p. 61.
- ^ Paramount India fleet age