Paranair S.A. (legally Compañía de Aviación Paraguaya S.A.) is a Paraguayan airline based at Silvio Pettirossi International Airport, in the country's capital of Asunción.

It utilizes a fleet of Bombardier CRJ100/200 aircraft to operate scheduled flights between Paraguay and other South American countries.

[1] As Amaszonas Paraguay, the airline's first flight took place on 23 September 2015.

The company's joint backers became Inversiones en Lineas Aereas Internacionales and Avmax Group Inc. from Spain and Canada respectively, with each company holding a 50% stake in Paranair.

a.^ Route operated by Paranair on behalf of LATAM Paraguay as wet lease.