Signs Deal With Airbus Paramount Goes International
Chennai based Paramount Airways, One of India's leading domestic premium airlines, has signed a memorandum of understanding (MoU) to buy ten A321 aircraft with an option for additional ten. The agreement was concluded at the 48th Le Bourget air show outside Paris. The deal will be funded by the European central bank.
M. Thiagarajan, Paramount Airways Managing Director, said, "This marks an important and strategic landmark in our expansion plans and in particular our goal to become a leading international carrier. The A321 will help us realize these ambitious and attainable goals and we are delighted with the choice."
With the new aircraft, Paramount Airways will launch international services operating from key hubs. Paramount has created a niche for itself in the domestic market by flying smaller aircraft as compared to other airlines operating with 150-180 seats. The airline will follow the same strategy of right sizing in its international operations. The airline is assessing opportunities to fly into the Far East and Middle East Countries.
"We are delighted to welcome Paramount Airways as a new customer. Their decision to go with A321 is a testament to the aircrafts leading position in this sector and also to the partnership between our two companies which we hope will develop long into the future", said John Leahy, Airbus Chief Operating Officer, Customers.