Former CityJet chief operations officer, Mr Pearse Gilroy, is set to launch a scheduled low-cost air service between Dublin and two Spanish holiday destinations next May.

Mr Gilroy has taken over as chief executive of a new company, Jetgreen, which plans to serve Alicante and Malaga from Dublin. The company recently received its tour operator's licence from the Commission for Aviation Regulation (CAR) and is fully bonded.

The new service, Flyjetgreen.com, began selling tickets over the internet yesterday. Its first flights will take off on May 4th and it will operate daily services to both destinations from then on. The company aims to create up to 50 jobs.

One of Mr Gilroy's colleagues in the new venture, Mr Erig Conway, worked with Freshaer, a British-based aviation start-up that went to the wall last year after The Irish Times revealed that its chief executive, Mr John Leppe, had been convicted of fraud, and that it was not properly licensed.

The company had taken €250,000 worth of bookings from Irish people, but was wound up before it flew anywhere. The money was refunded in full.

Mr Conway has also worked with CityJet. Mr Jim Duggan, who has worked for more than 30 years in the airline business, and served as chief pilot with Ryanair, is also involved.

Jetgreen will offer a standard and first class service. The company said it would offer 12 seats on every flight for €1. Mr Gilroy said the company had researched the two destinations and believed the level of Irish interest in both was particularly strong.