After Air India-Indian Airlines, Jet Airways-Sahara and Kingfisher-Deccan Aviation, another aviation merger is in the air.
Madurai-based Paramount Airways is interested in acquiring the Mumbai-based budget carrier GoAir, promoted by the Wadia group.
Sources close to the developments said the investment bankers of Paramount Airways have expressed their interest and initiated discussions with GoAir representatives. The talks, however, have not made much headway as yet as GoAir is reluctant to move ahead.
Paramount Airways, which currently operates only in south India, has firmed up plans to enter the western region. GoAir has only four leased aircraft but Paramount is more interested in its slots, parking bays, pilots and other infrastructure, sources said.
GoAir had earlier indicated its plan to dilute 26-40 per cent equity through a private equity placement.
Read more in The Economic Times article.
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PARAMOUNT AIRWAYS PREFERS HINDI SPEAKERS ONLY
When Paramount Airways was introduced, every one might have been exited that for the first time airline based out of Tamil Nadu was started. There was also expectation that the aviation sector in Tamil Nadu would improve. For a long time Bangalore was the only headquarters for all airline. TamilNadu was a desert of aviation enterprise ever since Air Asiatic wound up.
There was also reports of Tamil newspapers inflight abort Paramount, which would have attracted exitement in the emotional TN market.
To tell the truth Paramount Airways is no different from they claim to be. They are just part of the Hindi-speaking herd which are based in Tamil Nadu only in name.
THeir vacancies within Tamil Nadu DO NOT care for knowledge of Tamil but require Hindi. Speaking Tamil is considered shameful in India's aviation industry. Speaking Hindi is actual considered good etiquette. Paramount Airways has also shown this preference.
They barely link 3 of the busiest airports in Tamil Nadu, which others like Air Deccan have already been doing.
The only thing Paramount Airways is unique is that they are the most expensive.
To sum it up, being an expensive airline which at the end of the day you get the usual English and Hindi only treatment, you would rather pick others for less.
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