UK-based start-up carrier Odyssey Airlines plans to start an all-business class service between London City airport and New York.

The paper airline confirmed an order yesterday at the Paris Air Show for 10 Bombardier CS100 aircraft worth $638 million.

The 110-seat next generation aircraft has yet to make its maiden flight but this is due to take place imminently.

The airline’s chief executive Adam Scott, a former Goldman Sachs banker, said: “We are launching Odyssey Airlines with the CS100 aircraft because its transcontinental range will allow us to connect key city airports with stringent performance and environmental requirements both in Europe and further afield.”

He said the carrier would concentrate on destinations that could not be currently served from London City.

Odyssey plans to follow in the path of failed long-haul business class airline ventures such as Silverjet, Eos and MAXjet.

Former Silverjet boss Lawrence Hunt, now a director at Lowcost Travel Group, told The Times: “There is no doubt that the demand for such services is there.

“Getting the funding in place to cover the working capital is the hard thing, and then you are up against all the deals and air mile agreements which BA and Virgin have with all the banks and corporates.”