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The airlines, which would offer all executive class seating, would operate on the Delhi-Kochi-Delhi sector, sources in the Cochin International Airport Ltd said.
Paramount, which would be the 13th airline to start services from the CIAL airport, has already signed deals for Embraer aircraft from Brazil, becoming the first airline in India to use this type of aircraft.
On the fare structure, sources said it would be between economy and executive class and would definitely be less than the normal fares.