What happened to Paramount?
 

This was being discussed on another thread, but it was going way off topic, so I thought I'd create a formal thread.

My question is what happened to Paramount?

They apparently had legal issues with their Embraer fleet. They were supposed to recommence operations in December 2010, and their website is still up. Does anyone have any info on this topic?

i have a partial story so someone may have to fill in the blanks
Paramount's crafts were leased from GE and another company (cant recall, i could google it but what the h3!!)....

i am not sure which of the following are true but i have heard two conflicting things in the media
1) they had a dispute with GE on a refund which they claimed were due to
2) GE claims dfault in payment (which Paramount refutes)

apparently the london court which was hearing the case ruled in the airline's favor. GE had a PoA in their favor from Paramount, and they used this PoA to instruct the DGCA to de-register the aricraft; GE claims they took this action on account of non payment

DGCA de-registered the aircrafts. this accounts for half the fleet - no idea why the other leasing company acted against Paramount or perhaps they were forced to stop due to a suspension of license (there is a minimum number of crafts requirement which Paramount may nothave met)

all this happened at a time when they were expanding out of the south and they had started a flight or two to delhi

i remember this....i had booked a flight out of delhi & my travel agent informed me a couple of days before my flight that they were not flying due to some legal issues....

Paramount was the best full service airline...it's a pity the they had to cease operations...it was also well run and was the only full service carrier to be in profit...

Flew with them only a couple of times. They were pretty ok..Service was decent and all in all a good product..

From an economic standpoint, i remember reading somewhere that they also enjoyed reduced operating costs since the Embraers as an aircraft type incurred lower fees at airports, thereby saving them a bit as opposed to operating the standard Airbus or Boeings's.

I would always fly them MAA-IXM if I could - much better food on the sector, but then it cut down on my Jet EQS...

Would still fly them today, if they were operating!