Paramount Airways
Encyclopedia
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
. It was the first airline in India to launch the New Generation Embraer 170/190 Family
series aircraft.
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
.
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.
Airline
An airline provides air transport services for traveling passengers and freight. Airlines lease or own their aircraft with which to supply these services and may form partnerships or alliances with other airlines for mutual benefit...
based in Chennai
Chennai
Chennai , formerly known as Madras or Madarasapatinam , is the capital city of the Indian state of Tamil Nadu, located on the Coromandel Coast off the Bay of Bengal. Chennai is the fourth most populous metropolitan area and the sixth most populous city in India...
, India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
, it was a national licensed airline. It operated scheduled services, mainly targeting business travellers. Its hub was Chennai International Airport
Chennai International Airport
Chennai International Airport , formerly known as Madras International Airport is located in Tirusulam, south of Chennai , India...
. It was the first airline in India to launch the New Generation Embraer 170/190 Family
Embraer E-Jets
The Embraer E-Jets are a series of narrow-body, twin-engine, medium-range, jet airliners produced by Embraer, a Brazilian aerospace conglomerate that produces commercial, military, and corporate aircraft. Announced at the Paris Air Show in 1999, and entering production in 2002, the aircraft series...
series aircraft.
History
The airline started operations in October 2005 and the company was originally headquartered in Madurai, where they also operate Paramount Textiles.Destinations
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.Fleet
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 | |
| Bombardier Dash 8 Q400 | — | 6 | — | TBA | |
| Embraer E170 Embraer E-Jets The Embraer E-Jets are a series of narrow-body, twin-engine, medium-range, jet airliners produced by Embraer, a Brazilian aerospace conglomerate that produces commercial, military, and corporate aircraft. Announced at the Paris Air Show in 1999, and entering production in 2002, the aircraft series... |
0 | 2 | — | 70 | Leased directly from Embraer Embraer Embraer S.A. is a Brazilian aerospace conglomerate that produces commercial, military, and executive aircraft and provides aeronautical services.... |
| 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
MOU
MOU, MoU, Mou or mou may refer to:* Memorandum of understanding* Minutes of Use, in telecommunication operations* Ministry of Unification, a branch of the South Korean government.* The Museum of Osaka University...
to buy ten Airbus A321-200 aircraft with an option for an additional ten. The agreement was concluded at the 48th Paris Air Show
Paris Air Show
The Paris Air Show is the world's oldest and largest air show. Established in 1909, it is currently held every odd year at Le Bourget Airport in north Paris, France...
. The deal is being funded by the European Central Bank
European Central Bank
The European Central Bank is the institution of the European Union that administers the monetary policy of the 17 EU Eurozone member states. It is thus one of the world's most important central banks. The bank was established by the Treaty of Amsterdam in 1998, and is headquartered in Frankfurt,...
.
The airline evaluated two turboprop
Turboprop
A turboprop engine is a type of turbine engine which drives an aircraft propeller using a reduction gear.The gas turbine is designed specifically for this application, with almost all of its output being used to drive the propeller...
aircraft, the ATR 72-600 and the Bombardier Dash 8 Q400 at the 2009 Dubai Airshow
Dubai Airshow
The Dubai Airshow is a biennial show held in Dubai, United Arab Emirates. It is organized by "Fairs & Exhibitions Ltd" since the year 1989; in cooperation with the Government of Dubai, the Department of Civil Aviation and Dubai International Airport in collaboration with the UAE Union Defense...
. 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.
Legal issue and cancellation of licence
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.Court victory and resumption of services
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.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