June 11, 2007

Now, Paramount Airways seeks merger with GoAir

The aviation industry is heating up like anything, as after the Jet-Sahara, Air India-Indian Airline merger and a nod for the Kingfisher-Deccan merger, Paramount is reported to talking to GoAir for a merger.

Talks are doing the rounds that the Madurai-based Paramount Airways has sent feelers to Wadia-promoted GoAir. In recent past, GoAir had indicated that it might sell off 26 to 40 per cent of its equity.

The Wadia group, however, has reportedly expressed no desire to move ahead.

But one should keep in mind that a few days before the Kingfisher-Deccan merger; Deccan to had denied all reports of their merger.

Kingfisher will take up 26 per cent stake of Air Deccan at Rs 150 per share.

About two months ago, Jet took over Air Sahara and decided to run it as a separate airline under the Jet Lite brand.

The Paramount Airways is reportedly eyeing a stake in GoAir with the aim of foraying into the western part of the country.

Read more of this article's from the source at: www.newkerala.com

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