Air Europa will launch a new twice-weekly service from London to Asuncion via Madrid in December.
Flights will be operated using an Airbus 330-200, with capacity for 299 passengers, 24 in Business Class.
On the London Gatwick to Madrid route a next generation Boeing 737-800 will be used.
Tickets are now on sale with return fares from £710 including taxes.
UK general manager Colin Stewart said 2015 has been a year of consolidation for the airline after the ‘impressive growth’ of the preceding years.
"In 2016 we will be expanding again, not only with new routes but also with the arrival of four more Boeing 787 Dreamliners, as part of a plan to incorporate 22 of the state of the art aircraft into our fleet by 2022," he said.
