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Jun 2007

Paramount Airways for merger with GoAir

     Mumbai: The aviation industry is heating up like anything, as after the Jet-Sahara, Air India-Indian Airline merger and a nod for the Kingfisher-Deccan merger, Paramount is reported to be talking to GoAir for a merger. Talks are doing the rounds that the Madurai-based Paramount Airways has sent feelers to Wadia-promoted GoAir. In recent past, GoAir had indicated that it might sell off 26 to 40 per cent of its equity. The Wadia group, however, has reportedly expressed no desire to move ahead. But one should keep in mind that a few days before the Kingfisher-Deccan merger; Deccan too had denied all reports of their merger. Kingfisher will take up 26 per cent stake of Air Deccan at Rs 150 per share. About two months ago, Jet took over Air Sahara and decided to run it as a separate airline under the Jet Lite brand. The Paramount Airways is reportedly eyeing a stake in GoAir with the aim of foraying into the western part of the country. Thiagarajan who is a pilot, promotes the Paramount Airways. Paramount Airways is the first airline in India to launch the New Generation Embraer 170/190 family series aircrafts. GoAir operates Airbus A320 aircraft with 180 seats, while Paramount operates Brazil 's Embraer aircraft with 60 to 90 seats.
-Jun 4, 2007