The new virtual low-cost airline specialising in low-cost long-haul and European flights was created in 2017 on the impulse of Iberia, whose aircraft it also uses for its business. Level is currently based at airports in Barcelona, Paris-Orly, from where it will offer direct flights to North and South America. It also newly operates European routes from Vienna from August 2018.

The company uses the code (IB), aircraft and cabin crew of parent Iberia for long-haul flights from Barcelona and Paris, but the conditions of carriage are different.

For flights from Vienna, Anisec, an offshoot of Vueling, operates under LEVEL's own code VK.