Paramount Airways plans on going west

Thiruvananthapuram: Paramount Airways is considering expanding into the western region through an acquisition, if the right opportunity presents itself.

According to M Thiagarajan, managing director, Paramount Airways, discussions with other airlines to evaluate a possible acquisition are in progress. He also said that in addition to inorganic expansion opportunities, Paramount Airways is also growing organically, and currently claims to control a 26-per cent market share in South India.

It plans to expand to the Western region by next year and into the northern region by 2009, with a pan-India presence by 2011.

The company has signed a memorandum of understanding (MoU) with aircraft manufacturer Embraer for procuring around 40 aircraft. Embraer is a leading player in the regional jets category.