With
Rs.1,600 crore in its kitty, Madurai-based Paramount Airways is planning to
restart operations by May with six ATR-72-600 aircraft, a top official of the
now defunct airline told The
Hindu .
The
erstwhile all-business-class airline operating five Embraer aircraft had its
last flight in August 2010 when the Director General of Civil Aviation (DGCA)
deregistered its aircraft following a dispute with its aircraft lessors over
non-payment of lease rentals following engine malfunction.
Compensation
In
November, 2012, the airline was awarded a compensation of Rs.1,600 crore
through international arbitration, and, in the same month, the DGCA renewed its
operating licence, paving the way for starting afresh.
“The
money has now come into our account, and we are finalising plans to restart
operations in April. The DGCA has given its go-ahead. There was no liability on
the company as the airline was making profit for three years prior to closing
down,” the Paramount Airlines official said asking not to be named.
Talks
are on to procure the ATR aircraft on lease, and, going forward, the airline
may induct Airbus into its fleet. The ATRs with 72 seats are next generation
aircraft which are much more comfortable and come with fuel efficiency.
Recruitment
The
airline has also started the process to recruit personnel, including pilots,
cabin crew, engineers and ground staff.
The
airline plans to restart with staff strength of 900 people. The core team that
was earlier running the airline is already there, and the rest would be hired
in the coming weeks. Several old employees have been called back.
Paramount
Airways wants to initially concentrate on the southern states where it had a
stronghold and enjoyed customer loyalty. Apart from reopening its earlier
bases, Paramount is planning to fly to Mysore, Tuticorin and Puducherry to name
a few new destinations.
The
official said now Paramount was the most profitable airline in India despite
operating no flight for 30 months.
The
Rs.1,600 crore that has come in by way of compensation gives the airline much
financial muscle power to scale up in coming years.
Contrary
to speculations, Paramount was not looking for investment from any foreign
airline as there had been no requirement of funds, the official said.
Wants
to initially concentrate on the southern states where it enjoys customer
loyalty
No comments:
Post a Comment