Chennai: Chennai-based Paramount Airways, one of India's leading domestic premium airlines, has signed a Memorandum of Understanding (MoU) to buy 10 A321 aircraft with an option for additional 10.
The agreement was concluded at the 48th Le Bourget air show outside Paris. The deal would be funded by the European Central Bank.
Paramount Airways Managing Director, M Thiagarajan said, "Today 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 realise these ambitious and attainable goals and we are delighted with our aircraft choice."
With the new aircraft, Paramount Airways would 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 would follow the same strategy of right sizing in its international operations. The airline is assessing opportunities to fly in the Far East and West Asia Countries.
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