The SATURDAY NIGHT FEVER star became frustrated when he couldn't find any good scripts and decided to write one himself.
He explains, "I don't get the kind of roles offered that I would like, so here is my answer."
Speculation is rife that Travolta may have asked Newton-John to join him for the project, now that their much-talked about plans for GREASE 3 have been halted, according to website Moviehole.net.
The PULP FICTION star plans to shoot the movie in the UK and he will also sing the film's theme song.
He adds, "It's a tear-jerker. Fans will love it, but there's a love theme throughout."