The Indian airline Paramount Airways is set to buy 40 ER-175 airplanes produced by the Brazilian company Embraer this year, in a deal with an estimated value of 1 billion dollars, according to dpa. Paramount Airways managing director M Thiagarajan confirmed the agreement in comments published by Brazilian financial daily Valor Economico on Wednesday. The daily said the deal was finalized during a visit by Brazilian President Luiz Inacio Lula da Silva to India this week. Lula reportedly met with Thiagarajan before travelling to Germany for the Group of Eight (G8) summit in Heiligendamm. "We are the leading company in southern India and our passengers prefer Embraer (airplanes). It is a logical option," the Paramount Airways top executive said. Last year, the Indian airline purchased five ER-170 and ER-175 planes from the Brazilian company. Thiagarajan said the company is studying the future acquisition of larger Embraer planes like the ER- 190.
