Paramount places orders for 10 aircraft

New Delhi, June 19: Amid the current turbulent times when most airlines are forced to cut fleet sizes, Chennai- based airline Paramount Airways today placed confirmed orders for 10 Airbus A-321 aircraft, with the option of 10 more, for a total of USD 1.5 billion for overseas operations.
According to the terms agreed upon between Paramount and European aircraft major Airbus, the all-business-class carrier also has an option to place orders for 10 more airplanes in future.

The order has been placed at a list price of USD 90.3 million for each of the confirmed airplane delivery while the optional jets will cost only half of that, taking the total order value to about USD 1.5 billion.

Paramount signed a memorandum of understanding (MoU) with Airbus on the sidelines of the ongoing Paris Airshow at Le Bourget in France.

"We signed an MoU with Paramount Airways for confirmed orders for ten A-321s and ten more on option," Airbus Vice President (Sales) Miranda Mills told PTI from France.

The airline is planning to launch international services from its key hubs and at present "assessing opportunities to fly into the Far East and Middle Eastern countries," airline officials said. PTI