A brand-new, one-plane airline will be launched this July, offering only business class reservations and service between Paris and Newark, New Jersey.

La Compagnie will be leasing its plane from Icelandair, which will also serve as a back-up airline if La Compagnie’s plane is ever caught out of service.

This is not the first time such a company tried such a business model. Before the Great Recession Eos, MAXjet, Silverjet, and L’Avion all offered either business or first-class exclusive options, and all went down.

Deputy CEO and co-founder of La Compagnie Peter Luethi says his company is different.

“It is not the same model as has been tried before. It is not a deja vu,” Luethi said in New York on Tuesday announcing the launch. “It is not going to be the most luxurious business class, but it will be the best for the price.”

Tickets already went on sale in France, and are expected to be available for purchase in the US on June 25 or thereabouts. Customers can expect to pay between $1800, $2400 and $4600, depending on cancellation and change options.

The airline expects to be up and flying on July 11, offering 5 round-trip flights each week. By September they hope to schedule six flights per week, and by November one a day, taking time off for maintenance only once every two weeks. Noting that there is not much wiggle room for problems Luethi said “We have a back-up with Iclandair.”