British entrepreneur James Asquith has held a launch party for Global Airlines, a planned carrier that will operate four Airbus A380s on the transatlantic route.

At the London event, Asquith took to the stage to set out his vision for on plying a route where others have failed.

“Some of the experts have said that the transatlantic market is littered with failed carriers. Well, yes it is,” said Asquith.  “Over the last three decades they have competed on price, and it is a race to the bottom, largely. They either do that, or they offer an all-premium product across the Atlantic. We’re doing it differently”.

However, anyone hoping to hear specific details on exactly how the carrier will be different to other airlines was disappointed.

“I guess we want to wait until we have things ‘slam dunked’ and done before we go to the media and say what we’re doing,” Asquith said, adding that he felt the company had been ‘forced’ to release information about buying the first aircraft last year.

Some have questioned the economics of operating large, last-generation aircraft  on a route with stiff competition. On this, Asquith made the point that other carriers are operating older B767s and turning a profit. He also said that there ‘wasn’t a cigarette paper’ between him and CCO Richard Stephenson who took the position in May after having been an advisor to Global Airlines for a year previously.

Stephenson is the former CEO of Aerotime, and a former comms director of the UK’s CAA.