LONDON – According to the Financial Times, a part-time Ryanair pilot and three veterans of the aviation industry are aiming to raise around US$100 million for a new Swiss budget airline.

The four individuals are aiming to defy the forces of economics which have grounded a few airlines in Europe in recent months.

The new carrier, which has not been officially named, will allegedly focus on long-haul low-cost in North America from Basel Mulhouse Airport (BSL).

Rumors say that the airline’s potential name will be Swiss Skies.

The founders believe that their approach to operations will avoid bankruptcy problems, especially in the Swiss market which has seen SkyWork Airlines collapse.

Other airlines across Europe that went to insolvency feature Air Berlin, Monarch and VLM in Belgium.

The new Swiss carrier is hoping to launch in mid-2019 if they can get the $100 million in time. They are also aiming to have a cost base that is 30% less than other network carriers around Europe.

Their business plan also has an aim to be profitable by the third year of operations.

The carrier is also looking to expand into the Caribbean, Asia, Middle East and Brazil from several European departure points.

The founders have also said that they will not be operating in the UK due to current political uncertainties with BREXIT.

Two of the owners, Alvaro Oliveira—one of the part-time Ryanair captains—and Armin Bovensiepen, who worked previously at Austrian Airlines added comments to the Financial Times.

Oliveira said, “We want to see what is going to happen with the [EU] agreements on aviation after Brexit”.

Bovensiepen added that “We have a full network prepared but because of the competition we don’t want it in the press right now”.

It is said that the carrier will use the Airbus A321neo with 190 seats and a 7,500km range. 16 aircraft are expected to be in their fleet by year two, with 38 by year four.