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| Founded | October 2005 | |||
|---|---|---|---|---|
| Ceased operations | May 2010 (license withdrawn) | |||
| Hubs | ||||
| Frequent-flyer program | Paramount Royale | |||
| Fleet size | 0 (+18 orders) | |||
| Destinations | 0 | |||
| Company slogan | A world of difference | |||
| Parent company | Paramount Group | |||
| Headquarters | Chennai | |||
| Key people | M. Thiagarajan, MD | |||
| Website | www.paramountairways.com | |||
Paramount Airways was an airline based in Chennai, India, it was a national licensed airline. It operated scheduled services, mainly targeting business travellers. Its hub was Chennai International Airport.[1] It was the first airline in India to launch the New Generation Embraer 170/190 Family series aircraft.[2]
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The airline started operations in October 2005 and the company was originally headquartered in Madurai, where they also operate Paramount Textiles.
Since the withdrawal of its license, the operations of the airline are currently suspended. The airline has stated that it intends to resume operations in December 2010 following their successful case in the Madras High Court.[3]
The Paramount Airways fleet consisted of the following aircraft as on April 2010:
| Aircraft | In Service | Orders | Options | Passengers (Business) |
Notes |
|---|---|---|---|---|---|
| Airbus A321-200 | — | 10 | 10 | TBA | [4][5] |
| Bombardier Dash 8 Q400 | — | 6 | — | TBA | [4] |
| Embraer E170 | 0 | 2 | — | 70 | Leased directly from Embraer[4] |
| Total | 0 | 18 | 10 | ||
As of January 2010 the average age of the Paramount Airways fleet was 8 years.
On 20 June 2009, Paramount Airways signed a 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.[6]
The airline evaluated two turboprop aircraft, the ATR 72-600 and the Bombardier Dash 8 Q400 at the 2009 Dubai Airshow. It had plans to buy up to eight turboprop aircraft which will be deployed to connect smaller Indian cities. It however settled for 6 Bombardier Dash 8 Q400s.[4]
In early 2010, legal issues between Paramount Airways and the lessors of their Embraer aircraft led to the de-registration of their fleet. This caused a gradual termination of all services as their fleet was grounded and then subsequently seized by the leasing companies.[7]
In November, 2010, it was announced that Paramount Airways have won their legal battle and are all set to resume services with a fleet based on Airbus and Bombardier aircraft. Normalisation of the route network should be successful by December, 2010.[3]
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