Icelandic investors have unveiled a new low-cost airline, branded Play, which intends to use a fleet of Airbus A321s.
Play is aiming to operate services initially to Europe, it says.
It plans to open routes to a number of North American destinations in spring 2020 and bring its fledgling fleet up to six aircraft for the summer season.
The carrier will commence ticket sales in November, eight months after the collapse of a previous budget airline, Wow Air.
Play says it has recruited personnel from Wow Air as well as Icelandic wet-lease specialist Air Atlanta.
Its chief executive, Arnar Mar Magnusson, is a former chief pilot at Wow Air and headed the carrier's operations.
Play wants to expand its fleet further, to 10 aircraft, within a three-year period.