Why Barcelona? Nice place, but hardly a major European hub. Well, another source points out that IAG, parent of the new Level (plus long-established, Iberia, British Airways, and Aer Lingus) operates its Vueling discount line from Barcelona. It may intend to feed European passengers on Vueling through Level across the Atlantic. This would break the model of the biggest European discounters, Ryanair and easyJet, which don't connect to any other airline flights or even to their own. Vueling already shares flights with Iberia, so trans-Atlantic itineraries seem a good bet – sometime. BA and Aer Lingus already are connected to small discount lines in Europe; Air France and Lufthansa are moving the same way.
But we should curb our enthusiasm about Level on one issue: It only has two airplanes, as pointed out above. One goes out of service, there won't be quick back-up.
Trans-Atlantic travel has come nearly full circle to the days long ago when charter airlines shook up the near-monopolies of the national long-distance carriers. Freddy Laker, the cheery bloke whose scheduled flights at charter prices stirred the pot, would surely be gleeful.
WOW, Icelandair, and Norwegian are claiming slices of the long-haul business for themselves. Air Asia has had similar ambitions in Asia for years now. But it is Norwegian which could produce the next big round when it takes delivery of a big fleet of the new B-737 Max. It intends to fly the narrow-body, fuel-efficient planes across the Atlantic into secondary East Coast markets such as Providence, escaping the hub-and-spoke strategy.