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Formed and started operations in 2005. Domestic, and regional, scheduled & charter, passenger & cargo, jet airplane services.
70 Race Course
Coimbatore 641018, India
INDIA (REPUBLIC OF INDIA) WAS ESTABLISHED IN 1947, IT COVERS AN AREA OF 3,287,590 SQ KM, ITS POPULATION IS 970 MILLION, ITS CAPITAL CITY IS NEW DELHI, AND ITS OFFICIAL LANGUAGES ARE HINDI AND ENGLISH.
September 2005: Established by textile firm Paramount Group.
Started initial flights between Coimbatore, Delhi, Kochi, and Chennai. Plans to fly to Pune, Jaipur, Surat, and Raipur, as more planes are delivered.
Paramount Airways (PAT) offers business class (C) jet airplane comfort at economy (Y) air fares.
Owners/shareholders: Kurumuttu family (100%).
Main Base: Coimbatore airport.
Embraer E170-100LR (00005, VT-PAB), delivery.
December 2005: Paramount Airways (PAT), which began operations on October 19th out of Coimbatore will shift its operational base to Chennai subject to allotment of parking bays by the Airports Authority of India. The airline currently operates 1 Embraer (EMB) E170, has 4 on order and intends to acquire +15 more.
(PAT) will inaugurate service from Chennai to Delhi. Service from Chennai to Bangalore will follow on Jan 1st. Both routes will be operated with the Embraer E170.
January 2006: Paramount Airways (PAT), launched last September will purchase 15 Embraer ERJs according to media reports. Managing Director, M Thiagarajan said a contract valued at $450 million will be signed in the next couple of weeks, with deliveries occurring before year end 2007. (PAT) ordered five ERJs at the Paris Air Show.
February 2006: Paramount Airways (PAT) will add a 2nd Embraer E170 to its fleet on February 22nd. As a result, (PAT) will be inaugurating new services the 1st week of May from Chennai to Bangalore (3x-daily), to Hyderabad (2x-daily) and to Kochi (daily).
March 2006: Paramount Airways (PAT) will inaugurate service from Chennai to Madurai on April 2nd and operate 2 flights a day using an Embraer E170.
April 2006: Paramount Airways (PAT) is an Indian start-up airline targeting the business (C) travel market. It operates scheduled jet airplane services from Coimbatore.
Parent organization/shareholders: Paramount Group; Kotak; Coleman Bennett (2%).
Main Base: Coimbatore Pilameedu airport (CJB).
Domestic, scheduled destinations: Bangalore; Chennai; Cochin; Coimbatore; New Delhi; Hyderabad; & Madurai.
Is set to expand from 8 to 24 daily services following the arrival of its 2nd E170.
(PAT) plans to expand to link Pune, Jaipur, Surat, and Raipur after it receives 5 Embraer jets.
E170 (00002, VT-PAC), delivery.
July 2006: Amadeus signed a global content distribution agreement with Paramount Airways (PAT) of India.
E170-200SR (00126, VT-PAD), delivery.
August 2006: Paramount Airways (PAT) is increasing the number of flights it operates thanks to the delivery of its 3rd Embraer (EMB) airplane. (PAT) will operate 3x-daily to Madurai and Coimbatore and introduce early morning flights to Hyderabad and Kochi.
September 2006: Paramount Airways (PAT) increases the frequency of flights on its Chennai to Hyderabad and Madurai routes from 2 to 3 flights a day today.
October 2006: E170-200SR (00147, VT-PAF), delivery.
November 2006: The "Federation of Indian Airlines" is the name of the new industry body created by scheduled passenger carriers in India, according to press reports. Initial members are Air Deccan (DCC), Air-India (AIN), Air Sahara (SAQ), GoAir (GOZ), Indian Airlines (IND), IndiGo (IGO), Jet Airways (JPL), Kingfisher Airlines (KFH), Paramount Airways (PAT), and SpiceJet (ROJ). The group will cooperate in areas such as human resources, maintenance and ground handling, as well as lobbying issues.
(PAT) is continuing its expansion thanks to the delivery of its 5th Embraer (EMB) jet. The airline introduced a 4th service between Hyderabad and Bangalore, a mid-day flight between Chennai and Coimbatore, and an early morning flight from Chennai to Kochi. (PAT) will also introduce a new direct flight between Chennai and Thiruvananthapuram from November 18th.
January 2007: Paramount Airways (PAT) of India took delivery of its 5th Embraer E170, and will use it to launch services to Trivandrum, Tirupathi and Vizag.
February 2007: Paramount Airways (PAT) operates 5 airplanes on 33 daily flights to 7 domestic destinations (mostly in the southern part of the country).
March 2007: The India Ministry of Civil Aviation granted approval to Alliance Air (ALX), Jet Airways (JPL), Deccan Aviation (DCC), Sahara Airlines (SAQ), Kingfisher Airlines (KFH), Paramount Airways (PAT), and Indus Airways (IDU) to acquire and operate foreign manufactured airplanes with fewer than 80 seats. Airlines in India are exempt from landing fees for planes with fewer than 80 seats.
The ministry announced that the new Bangalore International Airport will open April 2.
May 2007: The Indian government made seat assignments compulsory for all domestic airlines. The Office of the Director General of Civil Aviation said it was imposing the regulation "in order to ensure correct loading of airplanes and keeping the center of gravity of the airplane within limits at all times during flight."
August 2008: After a busy round of consolidation, India’s airline industry seems to be stabilizing around three airline groupings with international ambitions: Jet Airways (JPL), Kingfisher (KFH), and Air-India (AIN), and three Low Cost Carriers (LCC)s: Indigo (IGO), SpiceJet (ROJ), and GoAir (GOZ). Regional carrier Paramount Airways (PAT) also seems to have big ambitions.
The Indian government announced official approval for significant modernization and expansion projects at Kolkata (CCU) and Chennai airports that will bring the facilities to "international standard" and cost a combined $900 million. The 30-month project at (CCU) will cost an estimated INR19.43 billion/$452.4 million and expand annual handling capacity by 20 million passengers. The second runway will be extended to 3,293 m and made suitable for "large commercial airplanes," navigation facilities will be upgraded, airplane parking and additional taxiways will be added, and road and rail connections to the airport will be improved. The work first was proposed in April 2007. (CCU) handled 7.5 million passengers in the 2007 to 2008 fiscal year and is expected to process 24.7 million in 2015 through 2016.
At Chennai, INR18.1 billion will be spent on a similar 26-month project designed to increase capacity by +14 million passengers per year. In the recently completed fiscal year it processed 10.7 million passengers. The second runway will be extended and a new taxiway constructed, among other improvements, including a new domestic terminal building capable of handling 10 million passengers per year.
January 2009: The Indian government appears to be softening its stance on foreign direct investment in the country's airlines as they contend with large losses and overcapacity. Civil Aviation Minister, Prafel Patel told reporters this week that "there is a more reasonable case now than there was 3 to 4 years ago" to allow foreign carriers to acquire up to 25% of an Indian carrier. Kingfisher Airlines (KFH) has been a strong proponent of investment liberalization. "There is no clarity on the issue. This is one of the proposals which can be considered," Patel was quoted as saying. "Every airline has a problem and we have to look for extraordinary solutions. It is not formalized yet. It is only a thought process. We are not saying we will give it. We just feel the need," he said.
The Indian commercial aviation industry experienced a rough 2008. According to "The Hindu," passenger numbers fell 5% to 40.8 million following growth rates of 32.5% in 2007 and 46.5% in 2006. Jet Airways (JPL) led with 8.8 million, followed by Air-India (AIN) with 6.6 million, (KFH) with 6.3 million, Deccan (DCC) with 5 million, IndiGo (IGO) with 4.7 million, SpiceJet (ROJ) with 4.1 million and Paramount Airways (PAT) with 630,000.
March 2009: The Indian economy, not terribly dependent on trade, grew +5% last quarter.
June 2009: (EDS) announced airplane Memo of Understanding (MOU) with Paramount Airways (PAT), concluding a reasonably successful Paris Air Show. (PAT) signed its (MOU) for 10 A321s with an option for an additional 10. (PAT) intends to use the airplanes to launch international service when it becomes eligible to do so next year. (PAT) currently operates Embraer jets.
December 2009: 3 Embraer E170-200s (00126, VT-PAD; 00137, VT-PAE; 00147, VT-PAF), de-registered and parked, then repossessed by (GECAS) (GEF).
January 2010: Indian airlines carried 44.5 million passengers in 2009, up +7.9% from the prior year, the Ministry of Civil Aviation reported. 4th-quarter traffic soared +30.5% year-over-year to 12.5 million passengers and December traffic rose +34.8% to 4.5 million.
Jet Airways (JPL) (17.9%) and JetLite (SAQ) (7.5%) led all companies in full-year market share with a combined 25.4%, followed by Kingfisher Airlines (KFH) at 23.9% and Air India (AIN) with 17.5%. IndiGo (IGO) (13.9%) and Spicejet (ROJ) (12.4%) rounded out the top 5. Indian carriers cut capacity during the 1st half of 2009 but registered year-over-year increases in both (RPK)s traffic and (ASK)s capacity in each of the year's last 6 months.
December (RPK)s rose nearly +40% over the year-ago month, with average load factor surpassing 80% LF owing to the peak season. IndiGo (IGO) posted a 90% LF load factor for the month, with Jet (JPL) posting the lowest figure at 78.2% LF.
India's airlines transported 43.8 million passengers on domestic routes in 2009. Kingfisher (KFH) led the way with a 23.9% share equal to 10.5 million passengers, followed by (JPL) at 17.9% and (AIN)/(IND) at 17.5%.
April 2010: (GECAS) (GEF) and Celestial Aviation Trading rejected Paramount Airways (PAT)'s offer in a Delhi court to pay $1 million daily over 10 days to clear a reported $10 million in overdue fees, casting doubt on the airline's immediate future.
India's "Business Standard" reported that both lessors said a payment plan was unacceptable because they allege that (PAT) has "repeatedly reneged from its promise to pay the dues." It leases 3 E175s from the 2 lessors. A Delhi judge asked Paramount (PAT) to pay the money it owes "immediately," but counsel for the airline said it was "not in a position" to pay the amount, the "Business Standard" said.
"The Times of India" said (PAT) has a fleet of 5 E-Jets. It could be forced to shut down operations if the lessors take back the E175s as Indian civil aviation regulations require that an airline have at least 5 airplanes as a minimum requirement to maintain a permit for operating scheduled passenger air transport.
Paramount (PAT)'s tenuous state leaves uncertain the status of a Memo of Understanding (MOU) for 10 A321s with an option for an additional 10 that it signed at the 2009 Paris Air Show.
March 2012: Paramount Airways (PAT) has received permission by a high court in Chennai to receive its Air Operator Certificate (AOC) back. (PAT) had suspended operations in 2010 but now plans to resume regional services in the South of India.