A new airline from British Airways' parent company will fly you to Europe for $149

On Friday, International Airlines Group (IAG) launched a new airline called LEVEL.

According to IAG, the parent company of British Airways, Iberia, Vueling, and Aer Lingus, LEVEL will be the a long haul low-cost carrier that will connect Europe with destinations across the Atlantic.

"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," IAG CEO Willie Walsh said in a statement.

Based out of Barcelona, Spain, the airline will use a pair of new Airbus A330 jets and will be operated by Iberia's pilots and flight attendants.

LEVEL is expected to begin passenger operations this June with service from Barcelona to Los Angeles and Oakland, California. The company will also launch flights from Barcelona to Buenos Aires, Argentina and Punta Cana in the Dominican Republic this summer.

Tickets are already on sale with fares starting at just $149 for a one-way ticket.

Flight between Barcelona and LA will launch first on June 1, with service twice a week. Service to Oakland will launch one day later with three flights a week. Punta Cana flights will commence on June 10 and Buenos Aires service will launch on June 17.

Each one of LEVEL's Airbus A330s will be equipped with 21 premium economy and 293 economy seats. Passengers flying in premium economy will have access to complimentary meals, in-flight entertainment, seat selection, and a piece of checked luggage. However, these features will be a la carte for those flying in economy.

LEVEL is the latest carrier to enter the fray of low-cost, trans-Atlantic flights. In recent years, Norwegian Air and Iceland's WOW Air have made waves in the marketplace by offering exceedingly low fares and bare-bones service.