Paramount to buy 10 Airbus aircraft for $1.5 bn

Aiming at launching international services, all-business-class carrier Paramount Airways on Friday placed a $1.5 billion order for acquiring 10 Airbus A-321 aircraft with each of them costing over $900 million.

Paramount signed a memorandum of understanding (MoU) with the major European aircraft manufacturers on the sidelines of the ongoing Paris Airshow at Le Bourget in France.

Under the MoU the Chennai-based airline has an option to place orders for 10 more aircrafts in future.

"We signed an MoU with Paramount Airways for confirmed orders for ten A-321s and ten more on option," Airbus Vice President (Sales) Miranda Mills told PTI from France.

The airline has already made its intentions clear that it wants to launch international flights from southern India by the year-end.