Paramount Airways, the all-business class airline from Madurai in the southern state of Tamil Nadu, is planning to buy strategic stake in an existing airline. As per a Business Line report, Paramount, which has a successful brand, will drop the brand name of the target airline once the acquisition goes through. Paramount Airways MD M Thiagarajan refused to reveal the name of the target airline.
While India's airline boom has been largely fuelled by low-cost airlines, Paramount Airways, launched by a business group largely into textiles, had taken the novel route of launching all-business class flights. Paramount Airways says that it sells business class tickets cheaper on its flights, since unlike regular full service airlines, business class passengers do not have to subsidise the economy class fliers.
Recently, GoAir MD Jeh Wadia had said that his low-cost airline has also received proposals for investment from several quarters. He too has reused to reveal any names.
Indian is witnessing several marriages in the skies. The first was the Jet Airways-Air Sahara merger, which was consummated after an acrimonious pre-marital fight. Then came the Indian Airlines-Air India merger and barely last week, Vijay Mallya's acquisition of Air Deccan. Now, Paramount Airways may be the next in line to tie the knot.
Paramount Airways claims that it is the market leaders in South India. The airline plans to expand to western India this year and next and become an all-India airline by 2011.
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While India's airline boom has been largely fuelled by low-cost airlines, Paramount Airways, launched by a business group largely into textiles, had taken the novel route of launching all-business class flights. Paramount Airways says that it sells business class tickets cheaper on its flights, since unlike regular full service airlines, business class passengers do not have to subsidise the economy class fliers.
Recently, GoAir MD Jeh Wadia had said that his low-cost airline has also received proposals for investment from several quarters. He too has reused to reveal any names.
Indian is witnessing several marriages in the skies. The first was the Jet Airways-Air Sahara merger, which was consummated after an acrimonious pre-marital fight. Then came the Indian Airlines-Air India merger and barely last week, Vijay Mallya's acquisition of Air Deccan. Now, Paramount Airways may be the next in line to tie the knot.
Paramount Airways claims that it is the market leaders in South India. The airline plans to expand to western India this year and next and become an all-India airline by 2011.
Discuss
Add this link to...
Tell a friend
Bury
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