Andrew Strauss
Domestic carrier Paramount Airways Pvt. Ltd has signed an agreement at the Paris Air Show with European airplane maker Airbus SAS to buy ten A321 passenger jets and an option to buy 10 more. The fleet expansion will allow Paramount to start international operations in 2010. This is the only such big order from an Indian airline firm in about two years.
Overseas routes: Paramount’s M. Thiagarajan has said the carrier has got a commitment from European funding agencies to finance the purchase. The carrier will complete five years of domestic operations in 2010.Each Airbus A321 carries a list price of $90.3 million (Rs434.34 crore) but it is likely that, given the global economic slowdown, Airbus would offer some additional discounts.
The purchase comes at one of the worst times for civil aviation in India, which has seen falling passenger numbers in recent times. Domestic carriers are expected to post combined losses of at least $2 billion for the fiscal year ended 31 March.
Breaking with its earlier plans, Paramount, which flies a fleet of five Empresa Brasileira de Aeronáutica SA-made Embraer aircraft in the domestic market, will use the Airbus A321 for its overseas routes instead of the wide-bodied aircraft it had considered earlier. The carrier will complete five years of domestic operations in 2010. Under Indian regulations, a carrier can start overseas operations after having serviced Indian skies for at least five years.
A typical Airbus A321 can include about 180 seats in an all-economy configuration, but Paramount Airways’s A321 are likely to have 150 seats in the no-economy configuration.A first class cabin will come with flat beds while business class offers extra reclining seats and greater legroom.
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