Former United CFO to launch new LCC

Andrew Levy, the former chief financial officer (CFO) of United Continental, is raising funds to launch a new low-cost carrier designed to serve secondary airports in the US. “We think the opportunity exists for a real high-quality, highly reliable, extremely low fare, basic transportation service,” Levy said, adding that the new airline will offer “a better product and experience but still offer really low prices”. Levy, purchased Florida-based charter carrier XTRA Airways in August, which he intends to transform into the new scheduled operation. He hopes to raise $100 million and expects to finish fundraising by June before leasing aircraft