British Airways
British Airways logos as seen on Heathrow, LondonReuters

With the growing popularity of budget airlines such as Ryanair and easyJet, The International Airways Group (IAG) has announced the launch of Level, a new low-cost long-haul airline brand. This will mark the fifth launch of an airline brand by IAG, which currently owns British Airways, Aer Lingus, Iberia, and Vueling.

Level will commence operations in June 2017 and will initially offer flights from Barcelona before expanding to other European cities. Destinations at present are limited to Los Angeles, San Francisco, Buenos Aires, and Punta Cana.

Fares will begin at €99 (£86) for one-way flights. Amenities will be available at additional charges, and will include entertainment, food, and a high speed internet connection.

The new budget airlines company will utilise two Airbus A330 aircraft and is projected to generate up to 250 jobs in Barcelona.

Willie Walsh, IAG chief executive, stated in a press release, "LEVEL is an exciting new IAG airline brand which will bring a stylish and modern approach to flying at prices that are even more affordable. It will benefit from having the strength of one of the world's largest airline groups behind it."

"This is just the start. We're really excited about the opportunities for expansion and we plan to bring LEVEL to other European destinations."