This story is from January 4, 2006

Paramount to buy 15 Embraer jets for USD 525m

TNN / Jan 4, 2006, 03:22 IST

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Paramount Airways on Tuesday announced plans to buy 15 small passenger jets from Brazil's Embraer.

Paramount to buy 15 Embraer jets for USD 525m

NEW DELHI: India's only premium class airline Paramount Airways on Tuesday announced plans to buy 15 small passenger jets from Brazil's Embraer. The deal would be worth $525 million at list price.
"The agreement for the 15 Embraer jets will be signed in two weeks and delivery would commence from June this year. All the 15 aircraft will be inducted in the Paramount Airways fleet within 18 months thereafter," airline managing director M Thiagarajan said.
This will be second aircraft order being placed by Paramount in one year.Prior to this, the airline had bought five Embraer jets in June at the Paris Air Show for $135 million.
"We have selected the Embraer 175 and 195 jets. Both these planes will come in two class configurations of only business class and first class. While the 175 will have 11 first class and 65 economy class seats, the 195 will have 15 first class and 84 business class seats," Thiagarajan said.

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With these aircraft in place, the airline hopes to have a national spread with its scheduled upper-class only airline. It hopes to fly 8,400 passengers a day, or 3 million per year, by the end of 2007.
Paramount was launched in September 2005, offering only business and first class travel with no economy seats. The airline using Coimbatore as its base is today operating flights to Delhi and other cities.
"The demand for premium air travel is overwhelming in India. There are enough people here looking for high-quality flying. We are trying to offer these customers upper class travel for the cost of an economy class ticket in a normal full-service airline," he added.
"The Embraer E-jets help us provide the business traveller with an aircraft that offers large cabin amenities such as wider aisles and seats, greater baggage stowage and overhead bins and full-service galleys while maintaining smaller jet economies," Thiagarajan said.

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