The Hindu Business Line : Paramount to expand to Western region

Thiruvananthapuram, Aug. 30 Paramount Airways is open to growth through the inorganic route if the right opportunity emerges. According to Mr M. Thiagarajan, Managing Director, Paramount Airways, the airline is currently in discussions with other airlines about a possible merger or acquisition. He however declined to give more information and added that no time frame has been fixed for this process to be completed.

Inorganic growth

Paramount Airways is not banking only on inorganic growth and is in the process of growing organically, he emphasised. The airline, which currently claims a 26 per cent market share in South India, will expand to the Western region by next year and to North India by 2009. It expects to have a national presence by 2011, Mr Thiagarajan added.

The company has signed a memorandum of understanding with aircraft manufacturer Embraer for buying around 40 aircraft, he pointed out. The agreement on the exact size and other details of the order will be determined in the next few weeks, he added.

In-flight entertainment systems, including live TV, will be available on aircraft entering the airline’s fleet by the third quarter of next year, Mr Thiagarajan said. Paramount Airways is also looking at the possibility of facilitating mobile phone usage on its aircraft, he added.

Kerala Plans

Mr Thiagarajan said that he and representatives of other airlines held discussions with Kerala Chief Minister, Mr V.S. Achuthanandan, on improving air connectivity with the State and also between the three main cities of the State. Several ideas were discussed during this meeting, he added.

Paramount Airways is ready to start flights connecting Thiruvananthapuram, Kochi and Kozhikode provided the State Government commits to buying between 30 and 40 per cent of the seats on a flight, he explained. Senior government officials could then travel by air between the three cities. If the State agrees to the proposal, Paramount is ready to start flights linking Thiruvananthapuram, Kochi and Kozhikode by October, he added.