The man behind the scheme is a former British Airways executive, David Spurlock.

The development follows news reported on Times Travel Online last month that Luton airport hopes to improve its business credentials with the proposed launch of a business class only service, Fly First, between the airport and Newark in New York, also later this year.

And TTO has also learned of plans of a third party also planning a London-New York business service, also offering 48 seats aboard a 757. The fledgling airline is in the process of raising financial backing, mainly from US investors and has so far raised £40m with a planned budget of £60m.

Fly First is the brainchild of Hamish Taylor, former chief executive of Eurostar and who, in a previous role as head of brand management at British Airways, introduced flat beds to the airline.

Taylor is also currently seeking financial backing for the project, has issued a share prospectus aimed at raising up to £25 million to finance the venture.

The proposed service would operate from a private terminal at Luton, leaving at 6.45am and arriving into Newark’s Terminal B at 9am, which Fly First claims will be the earliest scheduled arrival into the airport from Europe by two hours.

The Boeing 757-200 planes Fly First are proposing to use on the service would be divided into four cabins, each holding 12 business class passengers in flat bed seats with a seat pitch of 82 inches. Return fares are likely to be pitched in the £3,400 to £4,100 range.

British Airways and Virgin Atlantic are the biggest UK airlines on the London to New York route, which accounts for around 3.7 million passengers every year, according to the Civil Aviation Authority.