Russian tycoon Oleg Tinkov hopes to launch a new low-cost carrier (LCC), Tinkoff Airlines, according to his social network posts.

“We will lease 200 new Boeing 737s and settle the price twice lower than Aeroflot on the domestic flights,” Tinkov posted. He said he will reveal his business plan in April.  

Russia’s two LCCs—Sky Express and Avianova—left the market due to financial and management issues. Some experts say the LCC could be successful as the Russian market grows nearly 15% annually, although skeptics say the number of people using air transport in Russia is still very small—from 4 to 10 million out of 140 million people. However, the number of passengers is growing because these people fly more frequently every year.