Businessman Andrew Levy is planning to launch a new ultra-low-cost carrier based on XTRA Airways (Fort Lauderdale International) which he acquired in August 2018, Here & Now has reported.

The carrier is eyeing a late 2019 or early 2020 launch with a fleet consisting of five aircraft. According to Bloomberg, the fleet would most likely consist of B737-800s. By 2023, it plans to operate forty-five aircraft.

Last year, XTRA Airways sold most of its aircraft - namely six B737-400s and two -800s - to Swift Air (United States of America) (Greensboro Piedmont Triad International). XTRA continues to operate a single -400, N688XA (msn 24688), in order to keep its Part 121 certification active. The 28-year narrowbody is owned by AerSale (United States of America) and is currently parked at Fort Lauderdale International.

Levy used to be the Chief Financial Officer for United Airlines (UA, Chicago O'Hare) and helped establish Allegiant Air (G4, Las Vegas Harry Reid). Short of disclosing any specific business plans, he promised to focus on offering low fares and a simplified fee structure. The carrier's network will be "defensible" and focused on underserved and unserved secondary markets. The airline will also be renamed.

The airline hopes to raise USD100 million from investors by July 2019.