Paramount Airways - Revision history

WilfredBirmingha: update intro additionally and corrected details

2025-09-03T06:20:47Z

update intro additionally and corrected details

← Older revision		Revision as of 11:50, 3 September 2025
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	{{for\|the defunct 1980s British airline\|Paramount Airways Limited}}		{{for\|the defunct 1980s British airline\|Paramount Airways Limited}}{{Short description\|Defunct airline}}
			{{Hatnote\|Not to be confused with the [[Sierra Leone]] helicopter airline [[Paramount Airlines]] that ceased operations in 2007, or the U.S. [[supplemental air carrier]] [[Paramount Airlines (1961–1962)]] that operated in the 1960s}}
			{{Use dmy dates\|date=January 2023}}
			{{Use Indian English\|date=January 2023}}
	{{Infobox Airline		{{Infobox Airline
	\|airline=Paramount Airways		\|airline=Paramount Airways
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	In November 2010, it was announced that Paramount Airways had won their legal battle and were set to resume services with a fleet of [[Airbus]] and [[Bombardier Aerospace\|Bombardier]] aircraft. Normalisation of the route network was scheduled for December 2010, but did not materialise.<ref name="relaunch">[http://www.deccanherald.com/content/111696/paramount-airways-take-skies-again.html Paramount Airways to take to the skies again]</ref> A British court awarded the airline Rs 1,650 crore as compensation in a lawsuit with [[GECAS]] in November 2012.<ref>{{cite news\|title= Paramount Airways might be revived with lawsuit money\|url=http://www.business-standard.com/india/news/paramount-airways-might-be-revivedlawsuit-money/496569/ \|publisher=[[Business Standard]] \|date= 24 December 2012 \| access-date= 2 February 2013}}</ref> Paramount renewed its operating licence from the [[Directorate General of Civil Aviation (India)\|DGCA]] in the same month and planned to start afresh, initially concentrating on its earlier stronghold of the southern Indian states and also Mysore, Tuticorin and Puducherry.<ref name = "HINDU"/> However, its lenders including [[Bank of India]], [[State Bank of India]], [[Central Bank of India]], [[Andhra Bank]], [[Indian Bank]] and [[IDBI Bank]] to whom Paramount owed around Rs. 550 Crore, wrote to the DGCA in February 2013, asking the regulator to prevent the airline from restarting operations before it settled its dues.<ref name ="CBI">{{cite news\|title= CBI registers case against Paramount Airways\|url=http://www.thehindu.com/news/national/cbi-registers-case-against-paramount-airways/article8560576.ece\|work=[[The Hindu]] \|date= 6 May 2016\| access-date= 6 May 2016}}</ref>		In November 2010, it was announced that Paramount Airways had won their legal battle and were set to resume services with a fleet of [[Airbus]] and [[Bombardier Aerospace\|Bombardier]] aircraft. Normalisation of the route network was scheduled for December 2010, but did not materialise.<ref name="relaunch">[http://www.deccanherald.com/content/111696/paramount-airways-take-skies-again.html Paramount Airways to take to the skies again]</ref> A British court awarded the airline Rs 1,650 crore as compensation in a lawsuit with [[GECAS]] in November 2012.<ref>{{cite news\|title= Paramount Airways might be revived with lawsuit money\|url=http://www.business-standard.com/india/news/paramount-airways-might-be-revivedlawsuit-money/496569/ \|publisher=[[Business Standard]] \|date= 24 December 2012 \| access-date= 2 February 2013}}</ref> Paramount renewed its operating licence from the [[Directorate General of Civil Aviation (India)\|DGCA]] in the same month and planned to start afresh, initially concentrating on its earlier stronghold of the southern Indian states and also Mysore, Tuticorin and Puducherry.<ref name = "HINDU"/> However, its lenders including [[Bank of India]], [[State Bank of India]], [[Central Bank of India]], [[Andhra Bank]], [[Indian Bank]] and [[IDBI Bank]] to whom Paramount owed around Rs. 550 Crore, wrote to the DGCA in February 2013, asking the regulator to prevent the airline from restarting operations before it settled its dues.<ref name ="CBI">{{cite news\|title= CBI registers case against Paramount Airways\|url=http://www.thehindu.com/news/national/cbi-registers-case-against-paramount-airways/article8560576.ece\|work=[[The Hindu]] \|date= 6 May 2016\| access-date= 6 May 2016}}</ref>

	The airline planned to restart operations by May 2013 with six ATR-72-600 aircraft,<ref name = "HINDU">{{cite news\|title= Paramount Airways plans to restart by May \|url=http://www.thehindu.com/business/companies/paramount-airways-plans-to-restart-by-may/article4365837.ece \|work=[[The Hindu]] \|date= 1 February 2013 \| access-date= 1 February 2013}}</ref> however, six banks that had extended loans to the airline wrote to the [[Directorate General of Civil Aviation (India)\|Directorate General of Civil Aviation]] asking the regulator to prevent the airline from restarting operations before it settled its dues.<ref name ="NIE">{{cite news\|title= Paramount Airways yet to take off\|url=http://www.newindianexpress.com/business/news/Paramount-Airways-yet-to-take-off/2013/05/23/article1601715.ece\|publisher=[[The New Indian Express]] \|date= 24 May 2013 \| access-date= 9 August 2014}}</ref>		The airline planned to restart operations by May 2013 with six ATR-72-600 aircraft,<ref name = "HINDU">{{cite news\|title= Paramount Airways plans to restart by May \|url=http://www.thehindu.com/business/companies/paramount-airways-plans-to-restart-by-may/article4365837.ece \|work=[[The Hindu]] \|date= 1 February 2013 \| access-date= 1 February 2013}}</ref> however, six banks that had extended loans to the airline wrote to the [[Directorate General of Civil Aviation (India)\|Directorate General of Civil Aviation]] asking the regulator to prevent the airline from restarting operations before it settled its dues.<ref name ="NIE">{{cite news\|title= Paramount Airways yet to take off\|url=http://www.newindianexpress.com/business/news/Paramount-Airways-yet-to-take-off/2013/05/23/article1601715.ece\|archive-url=https://web.archive.org/web/20140814175546/http://www.newindianexpress.com/business/news/Paramount-Airways-yet-to-take-off/2013/05/23/article1601715.ece\|url-status=dead\|archive-date=14 August 2014\|publisher=[[The New Indian Express]] \|date= 24 May 2013 \| access-date= 9 August 2014}}</ref>

	On 6 May 2016, The CBI has registered a case against promoters of Paramount Airways on allegations of defrauding, diverting loan amount, and cheating public sector banks. Searches were being carried out at seven locations at Chennai and Madurai, including residential and office premises of its promoter Thyagrajan and the company functionaries.<ref name ="cbiraide">{{cite news\|title= CBI registers case against Paramount Airways\|url=http://www.thehindu.com/news/national/cbi-registers-case-against-paramount-airways/article8560576.ece\|work=[[The Hindu]] \|date= 6 May 2016 \| access-date= 6 May 2016}}</ref>		On 6 May 2016, The CBI has registered a case against promoters of Paramount Airways on allegations of defrauding, diverting loan amount, and cheating public sector banks. Searches were being carried out at seven locations at Chennai and Madurai, including residential and office premises of its promoter Thyagrajan and the company functionaries.<ref name ="cbiraide">{{cite news\|title= CBI registers case against Paramount Airways\|url=http://www.thehindu.com/news/national/cbi-registers-case-against-paramount-airways/article8560576.ece\|work=[[The Hindu]] \|date= 6 May 2016 \| access-date= 6 May 2016}}</ref>

	==Destinations==		==Destinations==
	Paramount Airways mainly provided services to cities in South India. In 2009. it extended services into eastern India, serving the cities of [[Kolkata]], [[Guwahati]], and [[Agartala]].		Paramount Airways mainly provided services to cities in South India. In 2009. it extended services into eastern India, serving the cities of [[Kolkata]], [[Guwahati]], and [[Agartala]].{{fact\|date=January 2023}}

	==Fleet==		==Fleet==
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	==Awards and recognition==		==Awards and recognition==
	*Paramount Airways won the "Arch of Europe" Award in the year 2007 in Frankfurt.<ref>{{cite web\|url=http://citypatriots.com/asia/india/tamil-nadu/chennai\|title=Paramount Airways\|access-date=2015-07-20\|archive-date=2015-07-22\|archive-url=https://web.archive.org/web/20150722213705/http://citypatriots.com/asia/india/tamil-nadu/chennai\|url-status=~~dead~~}}</ref>		*Paramount Airways won the "Arch of Europe" Award in the year 2007 in Frankfurt.<ref>{{cite web\|url=http://citypatriots.com/asia/india/tamil-nadu/chennai\|title=Paramount Airways\|access-date=2015-07-20\|archive-date=2015-07-22\|archive-url=https://web.archive.org/web/20150722213705/http://citypatriots.com/asia/india/tamil-nadu/chennai\|url-status=usurped}}</ref>
	*Paramount Airways was awarded the "Award of Excellence" conferred by the Institute of Economic Studies<ref>{{cite web\|url=http://www.privateequityfund.kotak.com/portfolio/paramount-quality-award.html\|title=Paramount Airways receives International Quality Award\|access-date=2009-05-05\|archive-url=https://web.archive.org/web/20110713165332/http://www.privateequityfund.kotak.com/portfolio/paramount-quality-award.html\|archive-date=2011-07-13\|url-status=dead}}</ref>		*Paramount Airways was awarded the "Award of Excellence" conferred by the Institute of Economic Studies<ref>{{cite web\|url=http://www.privateequityfund.kotak.com/portfolio/paramount-quality-award.html\|title=Paramount Airways receives International Quality Award\|access-date=2009-05-05\|archive-url=https://web.archive.org/web/20110713165332/http://www.privateequityfund.kotak.com/portfolio/paramount-quality-award.html\|archive-date=2011-07-13\|url-status=dead}}</ref>

	==References==		==References==
	{{reflist\|2}}		{{reflist}}

	==External links==		==External links==
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	*[http://www.airliners.net/photo/1656406/L/ Paramount Embraer 175 at Bangalore]		*[http://www.airliners.net/photo/1656406/L/ Paramount Embraer 175 at Bangalore]

			{{Portalbar\|India\|Companies\|Aviation}}
	{{Airlines of India}}		{{Airlines of India}}

CleanupBot II: Removed empty portal template using script

2023-08-14T13:09:19Z

Removed empty portal template using script

← Older revision		Revision as of 18:39, 14 August 2023
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	*[http://www.airliners.net/photo/1656406/L/ Paramount Embraer 175 at Bangalore]		*[http://www.airliners.net/photo/1656406/L/ Paramount Embraer 175 at Bangalore]

	~~{{Portalbar\|India\|Companies\|Aviation}}~~
	{{Airlines of India}}		{{Airlines of India}}

imported>BrownHairedGirl: added Category:2005 establishments in Tamil Nadu using HotCat

2021-04-09T20:06:06Z

added Category:2005 establishments in Tamil Nadu using HotCat

New page

{{for|the defunct 1980s British airline|Paramount Airways Limited}}
{{Infobox Airline
|airline=Paramount Airways
|logo=ParamountAirwaysLogo.png
|logo_size=150
|IATA=I7
|ICAO=PMW
|callsign=PARAWAY
|parent=Paramount Group
|founded = October 2005
|ceased = August 2010
|key_people= M. Thiagarajan, [[Managing Director|MD]]
|headquarters=[[Chennai]]
|hubs=
<div>
*[[Chennai International Airport]]
</div>
| secondary_hubs =
|focus_cities=
|frequent_flyer= Paramount Royale
|lounge=
|alliance=
|fleet_size=0
|destinations=0
|website= {{URL|http://www.paramountairways.com}}
}}

'''Paramount Airways''' was an [[airline]] based in [[Chennai]], [[India]]. It operated scheduled services, mainly targeting business travellers until it ceased operations in 2010. Its hub was [[Chennai International Airport]]<ref name="FI">{{cite news | title= Directory: World Airlines | work= [[Flight International]] | page= 61 | date= 2007-04-10}}</ref> and was the first airline in India to launch the New Generation [[Embraer E-Jets|Embraer 170/190 Family]] series aircraft.<ref>[http://www.paramountairways.com/aboutus.html First Indian Airline to operate Embraer aircraft]</ref> The airline started operations in October 2005 with the company headquartered in [[Madurai]]. It operated to regional destinations in south and eastern India until early 2010.

== Decline==
The airline ceased operations when legal issues arose between Paramount Airways and the lessors of their Embraer aircraft. These events caused a gradual termination of all services as the fleet was grounded and seized by the leasing companies.<ref>[http://www.livemint.com/2010/04/07232335/The-Paramount-Airways-journey.html The Paramount Airways journey in India - Corporate News - livemint.com]</ref>

In November 2010, it was announced that Paramount Airways had won their legal battle and were set to resume services with a fleet of [[Airbus]] and [[Bombardier Aerospace|Bombardier]] aircraft. Normalisation of the route network was scheduled for December 2010, but did not materialise.<ref name="relaunch">[http://www.deccanherald.com/content/111696/paramount-airways-take-skies-again.html Paramount Airways to take to the skies again]</ref> A British court awarded the airline Rs 1,650 crore as compensation in a lawsuit with [[GECAS]] in November 2012.<ref>{{cite news|title= Paramount Airways might be revived with lawsuit money|url=http://www.business-standard.com/india/news/paramount-airways-might-be-revivedlawsuit-money/496569/ |publisher=[[Business Standard]] |date= 24 December 2012 | access-date= 2 February 2013}}</ref> Paramount renewed its operating licence from the [[Directorate General of Civil Aviation (India)|DGCA]] in the same month and planned to start afresh, initially concentrating on its earlier stronghold of the southern Indian states and also Mysore, Tuticorin and Puducherry.<ref name = "HINDU"/> However, its lenders including [[Bank of India]], [[State Bank of India]], [[Central Bank of India]], [[Andhra Bank]], [[Indian Bank]] and [[IDBI Bank]] to whom Paramount owed around Rs. 550 Crore, wrote to the DGCA in February 2013, asking the regulator to prevent the airline from restarting operations before it settled its dues.<ref name ="CBI">{{cite news|title= CBI registers case against Paramount Airways|url=http://www.thehindu.com/news/national/cbi-registers-case-against-paramount-airways/article8560576.ece|work=[[The Hindu]] |date= 6 May 2016| access-date= 6 May 2016}}</ref>

The airline planned to restart operations by May 2013 with six ATR-72-600 aircraft,<ref name = "HINDU">{{cite news|title= Paramount Airways plans to restart by May |url=http://www.thehindu.com/business/companies/paramount-airways-plans-to-restart-by-may/article4365837.ece |work=[[The Hindu]] |date= 1 February 2013 | access-date= 1 February 2013}}</ref> however, six banks that had extended loans to the airline wrote to the [[Directorate General of Civil Aviation (India)|Directorate General of Civil Aviation]] asking the regulator to prevent the airline from restarting operations before it settled its dues.<ref name ="NIE">{{cite news|title= Paramount Airways yet to take off|url=http://www.newindianexpress.com/business/news/Paramount-Airways-yet-to-take-off/2013/05/23/article1601715.ece|publisher=[[The New Indian Express]] |date= 24 May 2013 | access-date= 9 August 2014}}</ref>

On 6 May 2016, The CBI has registered a case against promoters of Paramount Airways on allegations of defrauding, diverting loan amount, and cheating public sector banks. Searches were being carried out at seven locations at Chennai and Madurai, including residential and office premises of its promoter Thyagrajan and the company functionaries.<ref name ="cbiraide">{{cite news|title= CBI registers case against Paramount Airways|url=http://www.thehindu.com/news/national/cbi-registers-case-against-paramount-airways/article8560576.ece|work=[[The Hindu]] |date= 6 May 2016 | access-date= 6 May 2016}}</ref>

==Destinations==
Paramount Airways mainly provided services to cities in South India. In 2009. it extended services into eastern India, serving the cities of [[Kolkata]], [[Guwahati]], and [[Agartala]].

==Fleet==
[[File:Paramountairways.jpg|thumb|250px|[[Embraer E-Jets|Embraer E170]] leased to Paramount Airways, at [[Chennai Airport]]]]
The Paramount Airways fleet consisted of [[Embraer E-Jets|Embraer E170s]], and was the first airline in India to operate this aircraft.
On 20 June 2009, Paramount Airways signed a [[MoU]] to buy ten [[Airbus A321-200]] aircraft with an option for an additional ten. The agreement was concluded at the 48th [[Paris Air Show]] and was to be funded by the [[European Central Bank]]. It also ordered six [[Bombardier Dash 8#Q400|Bombardier Dash 8 Q400]]s.<ref>[http://www.airbus.com/events/bourget2009/news/news-single/browse/1/back/10/article/paramount-airways-commits-to-10-airbus-a321-aircraft.html Paramount Airways commits to 10 Airbus A321 aircraft]</ref> However, the deals did not materialise.

==Awards and recognition==
*Paramount Airways won the "Arch of Europe" Award in the year 2007 in Frankfurt.<ref>{{cite web|url=http://citypatriots.com/asia/india/tamil-nadu/chennai|title=Paramount Airways|access-date=2015-07-20|archive-date=2015-07-22|archive-url=https://web.archive.org/web/20150722213705/http://citypatriots.com/asia/india/tamil-nadu/chennai|url-status=dead}}</ref>
*Paramount Airways was awarded the "Award of Excellence" conferred by the Institute of Economic Studies<ref>{{cite web|url=http://www.privateequityfund.kotak.com/portfolio/paramount-quality-award.html|title=Paramount Airways receives International Quality Award|access-date=2009-05-05|archive-url=https://web.archive.org/web/20110713165332/http://www.privateequityfund.kotak.com/portfolio/paramount-quality-award.html|archive-date=2011-07-13|url-status=dead}}</ref>

==References==
{{reflist|2}}

==External links==
*[http://www.paramountairways.com/ Official website]
*[https://web.archive.org/web/20080417052028/http://www.ch-aviation.ch/aircraft.php?search=set&airline=PMO&al_op=1 Paramount Airways fleet]
*[http://www.airliners.net/photo/1656406/L/ Paramount Embraer 175 at Bangalore]

{{Portalbar|India|Companies|Aviation}}
{{Airlines of India}}

[[Category:Defunct airlines of India]]
[[Category:Airlines established in 2005]]
[[Category:Airlines disestablished in 2010]]
[[Category:Indian companies disestablished in 2010]]
[[Category:Indian companies established in 2005]]
[[Category:Companies based in Chennai]]
[[Category:2005 establishments in Tamil Nadu]]