Financial Daily from THE HINDU group of publications
Saturday, Feb 11, 2006
Financial Daily from THE HINDU group of publications Saturday, Feb 11, 2006 |
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Airlines Paramount Air to buy 15 aircraft from Embraer Our Bureau
Chennai , Feb. 10 THE Chennai-based Paramount Airways will sign a Rs 2,250 crore commercial purchase deal with the Brazilian aircraft maker Embraer for 15 jets. Mr M. Thiagarajan, Managing Director, Paramount Airways, said that the deal would be signed at the Asian Aerospace Exhibition to be held in Singapore on February 21. Ten of the jets will be Embraer 195 and will offer 15 First Class and 63 Business Class seats. The remaining five would be the Embraer 175 version with 11 First Class and 64 Business Class. The new additions to its fleet would enable the airline to upgrade to a twin class configuration by adding First Class, he said. The airline, which operates six daily services with one Embraer aircraft, will take delivery of the second aircraft on February 22. Mr Thiagarajan said that with the addition the airline will be connecting Bangalore, Hyderabad and Kochi and will offer 24 services. Paramount will offer three daily flights to Bangalore, two to Hyderabad and one to Kochi. Currently, the airline operates daily to Coimbatore and New Delhi. Earlier, Paramount Airways has placed an order for five Embraer aircraft costing Rs 840 crore. Of this it has taken delivery of one aircraft.
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