Chennai-based Paramount Airways will focus on Tier II and III cities as part of its expansion plan, said managing director M Thiagarajan.
The airline is planning to commence operations to cities like Salem, Puducherry, Bellary, Mysore and Ranchi from the last quarter of 2010. The first service will be launched from Chennai to Tuticorin.
“We are planning to acquire 8-10 turbo planes, which will cater to these cities,” Thiagarajan said. Paramount, which currently operates to 17 destinations, is targeting to increase this to 40 by the end of 2011.
This apart, it will increase its fleet to 20 from the current five by inducting new Airbus, Embrarer and turboprop. “While the Airbus would cater to overseas travelers, Embrarer and turboprop will be for the domestic market,” he said.
Commenting on the overseas expansion, Thiagarajan said the company had placed orders for 10 Airbus A-321, which is valued around $1.5 billion. The first Airbus is expected to come on board in October 2010.
“Initially our focus would be on neighbouring countries including Singapore, Thailand, Malaysia, Sri Lanka and West Asia,” he said. The airline is also planning to get into seat-sharing and other arrangements.
This apart, it has lined up holiday packages through Paramount Holiday targeted at high-end business travelers. “We have already had a soft launch and the full launch would be in next year,” he added.
With the domestic expansion, the airline has set a target to increase its market share to 10 per cent by the end of 2010, from the current two per cent.
