LAS VEGAS (KLAS) — A startup airline that intends to use Boeing 747s has applied for licensing as a commercial carrier.

Avatar Airlines, headquartered in Boca Raton, Florida, has not yet listed the cities it will serve, but says it will offer fares 30% to 50% cheaper than competitors.

Company founders say the airline’s advantage lies in its willingness to try something new instead of following the direction of other airlines that have moved to smaller planes as they come back from lagging tourist demand during the COVID-19 pandemic.

Barry Michaels, founder and chief executive officer of Avatar, said, “As other carriers are grounding more of their planes and laying off highly talented, experienced workers, it’s a tremendous opportunity for us to build a new airline that won’t be burdened by restructuring costs and mountains of debt.”

The company is looking for investors as it prepares to launch in late 2021.

“An industry that’s been devastated by COVID-19 just opens the door for those with the vision and fortitude to move into position with a new and better airline, one free of debt and well capitalized,” Michaels said.

Another part of the Avatar plan involves cargo. The airline intends to transport cargo at wholesale rates along with passengers, according to its website.