operate this aircraft. On 20 June 2009, Paramount Airways signed a MoU to buy ten Airbus A321-200 aircraft with an option for an additional ten. The agreement was concluded at the 48th Paris Air Show and was to be funded by the European Central Bank. It also ordered six Bombardier Dash 8 Q400s. However, the deals did not materialise. Awards and recognition Paramount Airways won the "Arch of Europe" Award in the year 2007 in Frankfurt. Paramount Airways was awarded the "Award of Excellence" conferred by the Institute of Economic Studies References External links Official website Paramount Airways fleet Paramount Embraer 175 at Bangalore Defunct airlines of India Airlines established in 2005 Airlines disestablished in 2010 Indian companies disestablished in 2010 Indian companies established in 2005 Companies based in Chennai 2005 establishments in Tamil Nadu