Parata Air, South Korea’s newest low-cost carrier, has implemented emergency wage returns and a four-day workweek to address severe liquidity strain following its parent company Winix’s scrapping of a $4.1 million bond. The CEO forgoes 100% of monthly salary, executives return 30%, and regular employees voluntarily return 20% of wages, with all amounts fully repayable upon normalization. This marks the first domestic airline adopting such measures, signaling acute financial distress in the sector and potentially impacting operational capacity, employee morale, and Parata Air’s pending US flight application. The airline, which began commercial operations in September 2025 with 100 billion KRW investment, now faces uncertain long-term viability as liquidity issues persist.