Paramount Airways ceased operations in 2010. The airline was the first in India to launch the New Generation Embraer 170/190 Family Series Aircrafts and focused on providing competitive priced business class services.

The airline claimed to be founded on a unique concept "something that had never been offered in the history of Indian Aviation". Paramount Airways desired to offer exceptional value for money and to make the traveling experience a true delight.

Their vision was to not add to the strain on the infrastructure facilities at Indian airports by not connecting to the already congested metros. Paramount Airways was a premium service schedule airline offering competitive fares and first time direct services to a number of commercial hubs in India which are connected to primary metros across India.