"I'm Fine, Thank You"
When problems between Paramount Airways and its lessor surfaced recently, many wondered whether another airline had hit a bad patch. Speaking to N. Madhavan, the Paramount Airways MD, M. Thiagarajan, though, strikes a defiant note.
On how bad are Paramount Airways' problems
Things have been blown out of proportion. We had a dispute with one of our lessors (GECAS) regarding reimbursement, as per the contract, of certain refurbishments that we had done on the aircraft when the lease period came to an end. The refunds were getting inordinately delayed. We began to set off the refunds due against the lease rental payable. That was not acceptable to the leasing company. So the dispute arose. The matter is now settled.
On reports about a Director General of Civil Aviation enquiry over regulatory and safety issues
I am not aware of any such thing. I am quite amused to hear it. We have not got a single letter from the DGCA over safety or any other issues. Paramount has not had a single incident—forget accidents, in the last four years.
On operations being affected by the de-registration of aircraft
We cancelled just14 flights over 48 hours. Considering that we operate 72 flights a day somebody is trying to make a mountain out of a molehill. We continue to be a profitable airline with the highest load factor, largest yield and best on time performance in the country.
On future growth plans
After success in the South, we moved to eastern India where we have established a strong presence. We are also slowly foraying into the western region and have recently started flights to Delhi, too. We are gradually transforming ourselves into a pan India player. We will have 20 aircraft (from the current five) by end of 2010. Early 2011 is the time we will start our international operations.
Things have been blown out of proportion. We had a dispute with one of our lessors (GECAS) regarding reimbursement, as per the contract, of certain refurbishments that we had done on the aircraft when the lease period came to an end. The refunds were getting inordinately delayed. We began to set off the refunds due against the lease rental payable. That was not acceptable to the leasing company. So the dispute arose. The matter is now settled.
On reports about a Director General of Civil Aviation enquiry over regulatory and safety issues
I am not aware of any such thing. I am quite amused to hear it. We have not got a single letter from the DGCA over safety or any other issues. Paramount has not had a single incident—forget accidents, in the last four years.
On operations being affected by the de-registration of aircraft
We cancelled just14 flights over 48 hours. Considering that we operate 72 flights a day somebody is trying to make a mountain out of a molehill. We continue to be a profitable airline with the highest load factor, largest yield and best on time performance in the country.
On future growth plans
After success in the South, we moved to eastern India where we have established a strong presence. We are also slowly foraying into the western region and have recently started flights to Delhi, too. We are gradually transforming ourselves into a pan India player. We will have 20 aircraft (from the current five) by end of 2010. Early 2011 is the time we will start our international operations.
