Introduction to Paramount Airways
Paramount Airways is a regional airline based in Chennai, India. The airline was established in 2005 and operated scheduled services to various destinations across the country. Paramount Airways is primarily known for its premium services and luxurious amenities in-flight, which set the airline apart from other regional airlines in India.
Founding of Paramount Airways
The airline was founded by M. Thiagarajan, an entrepreneur and businessman with experience in the aviation industry. Thiagarajan had previously founded another airline, Air Carnival, which was later acquired by SpiceJet. Paramount Airways was established with the aim of providing high-quality air travel services to passengers in southern India. The airline launched its operations in October 2005 with a fleet of three Embraer E170 aircraft.
Ownership History of Paramount Airways
Paramount Airways has had a tumultuous ownership history since its inception. In 2010, the airline was acquired by industrialist Vijay Mallya’s UB Group. However, the acquisition was short-lived, as the airline was hit by financial difficulties and had to suspend its operations in 2010. In 2011, the airline was acquired by a consortium led by Chennai-based businessman and film producer, S. M. Hasan. However, the airline again ceased operations in 2012 due to financial difficulties.
Current Ownership Structure of Paramount Airways
As of 2021, Paramount Airways is owned by Paramount Airways Limited, a company registered in India. The ownership structure of the company is not publicly available, and it is unclear who the current owners of the airline are.
Key People Behind Paramount Airways
M. Thiagarajan was the founder of Paramount Airways and played a key role in establishing the airline. S. M. Hasan, a businessman and film producer, was instrumental in acquiring the airline in 2011 and relaunching its operations.
Legal Battles Over Paramount Airways Ownership
There have been several legal battles over the ownership of Paramount Airways. In 2016, a company named Paramount Airways Global sued Paramount Airways Limited for trademark infringement and claimed ownership of the airline. The case is still ongoing, and the ownership of the airline remains disputed.
Recent Developments in Paramount Airways Ownership
There have been no recent developments in the ownership of Paramount Airways. The airline remains dormant, and its ownership structure is unclear.
Future of Paramount Airways Ownership
The future of Paramount Airways ownership is uncertain. It is unclear if the airline will resume its operations or if it will be acquired by another company or individual.
Impact of Ownership on Paramount Airways Operations
The ownership of Paramount Airways has had a significant impact on its operations. The airline has faced financial difficulties and has struggled to maintain its operations. The legal battles over ownership have also added to the uncertainty surrounding the airline’s future.
Conclusion: Who Really Owns Paramount Airways?
The ownership of Paramount Airways is currently unknown, and there is ongoing legal dispute over the ownership of the airline. The airline remains dormant, and its future is uncertain. Regardless of who ultimately owns the airline, it will face significant challenges in resuming its operations and establishing itself as a viable regional airline in India.
