New Delhi: Faced with the current turmoil in the aviation sector, Chennai-based Paramount Airways is looking to optimise its existing resources for higher revenue and planning to launch a door-to-door cargo service under its own brand.
“We are going to launch an all emcompassing cargo division. It will be for door-to-door cargo service and will be introduced under the brand name ‘Paramount´,” chairman of the airline M Thiagarajan said.
However, the company is generating cash even in these times, he added.
The airline currently transports about 100 tonnes per day of cargo from one airport to another and the capacity will be taken to about 300 tonnes a day by the end of the next year.
The cargo division of the airline would focus on medical cargo, horticulture, floriculture and aqua culture. “It will transport goods that have time sensitivity,” he said.
Thiagarajan, however, did not specify the time for the launch of the service.
The airline at present underwrites the belly space of its five aircraft for transportation of goods. It will take delivery of another 20 Embraer planes in the next two years.
Paramount’s focus on the cargo division comes on the back of the projections of air freight market growing at 15% per annum.
A host of companies have entered the segment like Delhi-based Aryan Cargo Express Pvt Ltd and Fltington Freighters Ltd of Hyderabad. Even low-cost carrier SpiceJet has started cargo operations in several cities including non-metro destinations like Ahmedabad, Pune and Coimbatore.