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Parata Airlines
2016–2023 airline of South Korea From Wikipedia, the free encyclopedia
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Parata Air (Korean: 파라타 항공; RR: Parata Hanggong), formerly Fly Yangyang and Fly Gangwon, is a South Korean low-cost airline that prioritizes safety and pursues rational and efficient services. The airline is currently in the process of restoring its Air Operator Certificate (AOC), with plans to begin domestic operations between Gimpo, Jeju, and Yangyang in August 2025. It also aims to launch international routes from Incheon to Japan and Vietnam thereafter.
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History
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Founding
Fly Gangwon was originally established as Fly Yangyang in November 2016[1] and signed the Convention on Support for Air Transport Business with Gangwon State.[2]
In October 2017, Fly Yangyang changed its name to current name, Fly Gangwon and signed the agreement of leasing 3 Boeing 737-800.[3][4] Fly Gangwon got the Air Operation Certificate in 2019, begins activation with relocating its headquarters to Yangyang County, location of Yangyang International Airport.[5][6] In November, Fly Gangwon launches the route to Jeju after the flying test in October.[7][8] In December, Fly Gangwon launches the route to Taipei–Taoyuan, its first international operation.[9]
Financial crisis
Fly Gangwon expanded its domestic and international network, but due to COVID-19 pandemic, Fly Gangwon got into financial difficulties.[10] In December, Gangwon State Council financial committee approves a financial support of 6 billion won to Fly Gangwon[11] to recover its operation, including receiving Air Cargo Transport Certificate and signing for introducing widebody aircraft, Airbus A330-200 and Airbus A330-200F.[12][13]
In May 2023, Fly Gangwon suspended all its operations and applied for bankruptcy protection.[14] Since the filing for bankruptcy protection, Fly Gangwon's Air Operation Certificate validation has been suspended.[15] 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.[16][17]
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.
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Previous Destinations
Fly Gangwon flew to the following destinations until before the bankruptcy protection:
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Previous Fleet
Fly Gangwon had operated the following aircraft, during its seven-year existence:[27][28]
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.
References
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