Parata Air

Parata Air (Korean: 파라타 항공; RR: Parata Hanggong), formerly Fly Yangyang and Fly Gangwon, is a South Korean low-cost airline. The carrier has announced plans to resume domestic services between Gimpo, Jeju, and Yangyang in August 2025. It also intends to launch international flights from Incheon to destinations in Japan, Vietnam, and the United States.

History

Founding

Fly Gangwon was originally established as Fly Yangyang in November 2016 and signed the Convention on Support for Air Transport Business with Gangwon State.

In October 2017, Fly Yangyang changed its name to Fly Gangwon and signed a lease for 3 Boeing 737-800. Fly Gangwon received its Air Operator's Certificate in 2019, and relocated its headquarters to Yangyang County, home to Yangyang International Airport. In November, Fly Gangwon began flights to Jeju. In December, Fly Gangwon launched flights to Taipei–Taoyuan, its first international destination.

Financial crisis

Fly Gangwon expanded its domestic and international network, but due to COVID-19 pandemic, Fly Gangwon got into financial difficulties. In December, Gangwon State Council financial committee approves a financial support of 6 billion won to Fly Gangwon to recover its operation, including receiving Air Cargo Transport Certificate and signing for introducing widebody aircraft, Airbus A330-200 and Airbus A330-200F.

In May 2023, Fly Gangwon suspended all its operations and applied for bankruptcy protection. Since the filing for bankruptcy protection, Fly Gangwon's Air Operation Certificate validation has been suspended. In November, Fly Gangwon returns its last aircraft to the lessor, and announces the main bidding in December with conducting the diligence of 3 Letter of Intent(LOI)s.

Rehabilitation

In June 2024, the rehabilitation court announced that Winix, a Korean household appliances company, was chosen as the final prospective acquirer of Fly Gangwon. Winix held a meeting with creditors and shareholders that month to approve the M&A rehabilitation plan, and completed the acquisition after the court's approval. Following the court's decision, the airline was rebranded from Fly Gangwon to Parata Airlines. Parata Airlines operates with strategic bases not only at Incheon International Airport and Gimpo International Airport, but also at Yangyang International Airport. The airline is pursuing a multi-route strategy that includes both domestic and international routes to ensure stable operations and long-term profitability.

Destinations

Parata Air operates the following destinations, and some of were operated by Fly Gangwon before the bankruptcy protection:

Fleet

Current fleet

As of September 2025[update], Parata Air operates the following aircraft:

Retired fleet

Parata Air's predecessor, Fly Gangwon had operated the following aircraft, during its seven-year existence:

As of April 2025, Parata Airlines has completed lease agreements for a total of four aircraft: two Airbus A330-200s and two Airbus A320-200s. The airline aims to operate both medium-to-long-haul and short-haul routes as part of its strategic plan. In August 2025, Parata Airlines announced that it would launch routes to Gimpo, Jeju, and Yangyang.