AIR MADRID is the name of a new Spanish start-up airline which plans to begin operations next May serving points in Latin America and the Caribbean with either Boeing 777 or Airbus A330 equipment. Air Madrid says it will be positioning itself as a ”long haul low cost carrier” with very small overheads in particularly price sensitive markets. The company is targeting a mix of leisure traffic, through destinations such as Cancun and the Dominican Republic, as well as ethnic travel from destinations like Bogota, Quito and Lima. Air Madrid is not associated with any of the current major travel groups and, whilst owned by Alada Tours, intends to work with independent travel agencies.