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Air Wales says it will initially create up to 20 new jobs and the first flight is expected on St David's Day next year.
At the moment 15 airlines operate from Cardiff International Airport in Rhoose but none of the companies is Welsh.
Air Wales will be based at the renamed Pembrey West Wales Airport from where flights will be routed to Stanstead or Luton.
The company also plans to fly to Cardiff International although talks with airport managers will not be held until next week.
The Civil Aviation Authority said it had received an application from the company which it is considering.
Air Wales claimed the cost of their tickets will be competitive with rail travel and the flight time from Pembrey to Stansted is around one hour 15 minutes.
Air Wales director Captain John Howard Evans is confident the service will be a success.
"There is a huge market. We have carried out route analysis and have found there are over 1,000,000 people who travel from this part of the world to London every year," said Captain Evans.
"A great deal of those go by train or road and 350,000 are travelling to Heathrow or Gatwick."
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