04 October,2009 10:12 AM IST | | IANS
Chennai-based business-class airline Paramount Airways on Saturday denied reports that it was in talks with GoAir for a takeover.
A Paramount spokesperson termed media reports on this as speculation. "There is no truth in it. We deny it," the spokesperson said.
Paramount Airways managing director M Thiagarajan could not be reached for comments despite repeated attempts.
According to the reports, Paramount was in talks with Jeh Wadia's Go Airlines, offering to pay about Rs 150 crore in cash and takeover the budget airline's debt of about Rs 400 crore as also its management.
