Paramount Airways plans to spend USD 1.3 billion on fleet expansion in next three-five years

Paramount Airways plans to spend USD 1.3 billion in fleet expansion over the next three to five years. M Thiagarajan, Managing Director, Paramount Airways said that the airline will add 15 short haul regional jets and ten medium wide-bodied aircraft to go pan-India by 2010 and introduce international flights by 2011. According to a report in Times of India by Subhro Niyogi; Thiagarajan informed that a technical committee was evaluating both Boeing and Airbus aircraft for its international operations that are slated to commence in two years. “To begin with, we will operate flights to South-East Asia and Gulf region. Then, the service will be extended to Europe and the US. We are closely evaluating A330s and A350s, as well as the 777s and 787s from Boeing. We should be able to arrive at a decision and sign the deal by June-July,” added Thiagarajan.

With each wide-bodied aircraft priced at USD 80-90 million, Paramount Airways will have to spend USD 800-900 million for building its international fleet.