Emergency services were called to the accident on Parlick Pike on Saturday afternoon after a freak gust of wind blew a tandem paraglider along the ground causing it to crash through a stone wall.
The woman, who was seated at the front of the paraglider, suffered serious injuries including suspected neck and spinal injuries.
A man who was seated behind is not believed to have been physically injured but was said to be suffering from shock.
Team Leader for Bowland Pennine Mountain Rescue Team, Kevin Camplin said: "We attended a paragliding accident where a female casualty was airlifted to Royal Preston Hospital.
"It seems a man and a woman were setting up when a sudden gust of wind caught the vehicle and dragged them 200 metres along the ground and through a stone wall.
"The woman was in front and unfortunately bore the brunt of the collisions.
"An air ambulance was called but due to the seriousness of her injuries and the terrain it was decided that the woman needed to be winched to the helicopter.
"A coastguard helicopter from Prestwick was called out to assist with the rescue.
"Mountain Rescue volunteers helped to give first aid and pack the casualty and also used their expertise to assist with winching her up to the helicopter."
The Coastguard confirmed it sent a helicopter resource to the scene.
A spokesman said: "We received a request from the Ambulance Service after a woman was injured in a paragliding accident.
"There was an air ambulance on scene but the patient needed to be winched so they required our assistance.
"The woman was winched to the helicopter and transported to Royal Preston Hospital."
A total of 14 mountain rescue team volunteers attended the incident.
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