Baltia Air Lines finally getting off the ground.
Thread Starter
Join Date: Nov 2011
Location: Anchorage
Age: 75
Posts: 2
Likes: 0
Received 0 Likes
on
0 Posts
Baltia Air Lines finally getting off the ground.
They're getting closer - and in need of an FAR 119.67 qualified 747 Chief Pilot. They've got an aircraft ready to go, and seem like they're going to get a chance to get their service started in early spring.
Anyone know more?
Anyone know more?
Join Date: May 2011
Location: Abu Dhabi
Age: 49
Posts: 104
Likes: 0
Received 0 Likes
on
0 Posts
Yesterday they were sending out Tweets claiming that they would be inaugurating services from New York to St. Petersburg, Kiev and several other places during 2011. They have 30 days remaining to accomplish that.
Also claiming that they will be the only airline serving the New York/Moscow/St. Petersburg triangle. Hellooo - have you ever heard of Aeroflot?
Their other B747 is in a million pieces in Kuala Lumpur. Don't understand why they purchased and invested heavily in two really old B747-200s - far too much airplane for the intended routes, too.
Gotta give the founder, Igor Dmitrowsky, a yogurt maker from Queens, New York, credit: he's been trying to launch this airline since 1989.
Also claiming that they will be the only airline serving the New York/Moscow/St. Petersburg triangle. Hellooo - have you ever heard of Aeroflot?
Their other B747 is in a million pieces in Kuala Lumpur. Don't understand why they purchased and invested heavily in two really old B747-200s - far too much airplane for the intended routes, too.
Gotta give the founder, Igor Dmitrowsky, a yogurt maker from Queens, New York, credit: he's been trying to launch this airline since 1989.
Join Date: May 2011
Location: Abu Dhabi
Age: 49
Posts: 104
Likes: 0
Received 0 Likes
on
0 Posts
December 19 they sent out an update:
@baltiausa Baltia Air Lines The date of Baltia’s maiden flight, and of a grand inaugural celebration in New York and St. Petersburg, will soon be announced!
@baltiausa Baltia Air Lines The date of Baltia’s maiden flight, and of a grand inaugural celebration in New York and St. Petersburg, will soon be announced!
Join Date: Jun 2001
Location: Rockytop, Tennessee, USA
Posts: 5,898
Likes: 0
Received 1 Like
on
1 Post
Baltia drops B747-200 plans; eyes new metal
18 MAR 2016
Baltia Air Lines (BTL, New York JFK) has decided to abandon plans to use a thirty-seven year-old B747-200, N706BL (msn 21705), for certification as well as commercial requirements based on advice from current and former US Federal Aviation Administration (FAA) personnel.
Baltia's President and Chairman, Russell K. Thal, said in a statement that the carrier would now seek out newer, more fuel efficient aircraft to lease.
"Additionally, our consultant has opened a dialogue at the most senior policy levels of the FAA to substitute the newer aircraft we choose to our certificate in a way that will retain as much of the work we have accomplished and lead to the issuance of an operating certificate in the shortest amount of time. As a result we have invited our consultant to lead this effort," he said in a letter to shareholders.
Baltia, arguably a contender for the world's oldest start-up at twenty-seven years of age, is currently in pursuit of its AOC with the FAA though it has run into several hurdles of late with the regulator.
"This change in strategy [the introduction of a new aircraft] means that we withdraw several motions we currently have pending with the FAA, in favor of non-litigious, non-confrontational options. This should lead to a more positive and productive relationship. We believe this is a prudent move that will ultimately benefit the company and its shareholders."
18 MAR 2016
Baltia Air Lines (BTL, New York JFK) has decided to abandon plans to use a thirty-seven year-old B747-200, N706BL (msn 21705), for certification as well as commercial requirements based on advice from current and former US Federal Aviation Administration (FAA) personnel.
Baltia's President and Chairman, Russell K. Thal, said in a statement that the carrier would now seek out newer, more fuel efficient aircraft to lease.
"Additionally, our consultant has opened a dialogue at the most senior policy levels of the FAA to substitute the newer aircraft we choose to our certificate in a way that will retain as much of the work we have accomplished and lead to the issuance of an operating certificate in the shortest amount of time. As a result we have invited our consultant to lead this effort," he said in a letter to shareholders.
Baltia, arguably a contender for the world's oldest start-up at twenty-seven years of age, is currently in pursuit of its AOC with the FAA though it has run into several hurdles of late with the regulator.
"This change in strategy [the introduction of a new aircraft] means that we withdraw several motions we currently have pending with the FAA, in favor of non-litigious, non-confrontational options. This should lead to a more positive and productive relationship. We believe this is a prudent move that will ultimately benefit the company and its shareholders."
A year later these guys still have a website and Facebook page listing headquarters at JFK and a base at YIP:
Baltia Air Lines: Corporate Information
Michal Macha | BALTIA AIR LINES INC | ZoomInfo.com
Apparently, they did get the 747 airborne at least once at an airshow or on a ferry flight:
Less than gushing praise in this post on an online travel site:
SEC Investigating America’s Most Corrupt Airline
March 18, 2016 by lucky
In 2014 I first wrote about Baltia Air Lines, which is America’s oldest start up airline. They’ve been in “business” for 27 years, except they’ve never actually flown a commercial flight, despite owning a 747-200 for over 20 years.
Their business plan is to initially fly between New York and St. Petersburg, Russia, with plans to later expand to other European capitals.
For years Baltia has been pretending that they’re actually going to start flying some day soon. Hell, their website says the following:
Baltia is currently in an advanced stage of the FAA Air Carrier Certification process and expects to begin revenue generating flights in 2015.
If you go to Baltia’s Facebook page, you’ll see they post a minor update every couple of days about how they’re “one step closer” to flying. It’s quite entertaining to see how many people still believe the airline will actually begin operating commercial flights some day.
The airline is publicly traded under ticker code BLTA, and amazingly enough in 2014 had a market cap of nearly $70 million. It’s beyond astonishing that people would invest in them, but I’m sure management was loving it, as they were able to raise that much capital without actually doing anything. I guess that has finally caught up with them, because their market cap is now “only” $11 million (which is still astonishing for a company which has generated zero revenue over three decades). [Market cap is now about $48 million: BLTA Stock Price - Baltia Air Lines Inc. Stock Quote (U.S.: OTC) - MarketWatch - Airbubba]
For the most part the airline has flown under the radar with regulators, at least up until now. The SEC has filed charges against one of the airline’s executives, Barry Clare. Per the SEC filing:
The SEC’s Enforcement Division alleges that Barry B. Clare, who resides in Bayside, New York and is the vice president of finance at Baltia Air Lines, Inc., acted as an unregistered broker for sales of Baltia’s common stock to investors. Although Baltia has existed since 1989—ostensibly for the purpose of flying commercial flights from New York City to St. Petersburg, Russia—it has never operated a commercial flight or otherwise generated any revenue. To fund its operations, Baltia has sold its stock to investors. Between March 2011 and March 2015, when Baltia raised more than $26 million through such stock sales, Clare allegedly solicited potential investors, recommended the investments in Baltia, negotiated and closed stock sales, and received commissions totaling approximately $1.7 million for his work.
Hilariously, Baltia has also just announced that they’re finally abandoning their 37 year old Boeing 747-200, following repeated certification failures from the FAA. Instead the airline is looking to lease a newer, more fuel efficient aircraft.
Bottom line
Baltia now has no plane and one of their executives is being investigated by the SEC. Could this finally be the last straw for the airline?
It’s amazing how much money Baltia has raised over the past few decades. Anyone dumb enough to pump more money into this company almost deserves the ROI they’ll get from it…
March 18, 2016 by lucky
In 2014 I first wrote about Baltia Air Lines, which is America’s oldest start up airline. They’ve been in “business” for 27 years, except they’ve never actually flown a commercial flight, despite owning a 747-200 for over 20 years.
Their business plan is to initially fly between New York and St. Petersburg, Russia, with plans to later expand to other European capitals.
For years Baltia has been pretending that they’re actually going to start flying some day soon. Hell, their website says the following:
Baltia is currently in an advanced stage of the FAA Air Carrier Certification process and expects to begin revenue generating flights in 2015.
If you go to Baltia’s Facebook page, you’ll see they post a minor update every couple of days about how they’re “one step closer” to flying. It’s quite entertaining to see how many people still believe the airline will actually begin operating commercial flights some day.
The airline is publicly traded under ticker code BLTA, and amazingly enough in 2014 had a market cap of nearly $70 million. It’s beyond astonishing that people would invest in them, but I’m sure management was loving it, as they were able to raise that much capital without actually doing anything. I guess that has finally caught up with them, because their market cap is now “only” $11 million (which is still astonishing for a company which has generated zero revenue over three decades). [Market cap is now about $48 million: BLTA Stock Price - Baltia Air Lines Inc. Stock Quote (U.S.: OTC) - MarketWatch - Airbubba]
For the most part the airline has flown under the radar with regulators, at least up until now. The SEC has filed charges against one of the airline’s executives, Barry Clare. Per the SEC filing:
The SEC’s Enforcement Division alleges that Barry B. Clare, who resides in Bayside, New York and is the vice president of finance at Baltia Air Lines, Inc., acted as an unregistered broker for sales of Baltia’s common stock to investors. Although Baltia has existed since 1989—ostensibly for the purpose of flying commercial flights from New York City to St. Petersburg, Russia—it has never operated a commercial flight or otherwise generated any revenue. To fund its operations, Baltia has sold its stock to investors. Between March 2011 and March 2015, when Baltia raised more than $26 million through such stock sales, Clare allegedly solicited potential investors, recommended the investments in Baltia, negotiated and closed stock sales, and received commissions totaling approximately $1.7 million for his work.
Hilariously, Baltia has also just announced that they’re finally abandoning their 37 year old Boeing 747-200, following repeated certification failures from the FAA. Instead the airline is looking to lease a newer, more fuel efficient aircraft.
Bottom line
Baltia now has no plane and one of their executives is being investigated by the SEC. Could this finally be the last straw for the airline?
It’s amazing how much money Baltia has raised over the past few decades. Anyone dumb enough to pump more money into this company almost deserves the ROI they’ll get from it…
Join Date: Sep 2014
Location: Canada
Posts: 1,257
Likes: 0
Received 0 Likes
on
0 Posts
Amazing thread resurrection.
Yet a lot has happened since last year:
Yet a lot has happened since last year:
- Baltia's founder & CEO, Igor Dmitrowsky, died early last year
- The SEC reached a $1 million settlement with Barry Clare, former VP of Finance
- The SEC closed an investigation of Baltia itself, with no enforcement action
- Baltia also managed to reach a settlement with the FAA -- avoiding outright rejection of its AOC application
- Baltia signed an agreement with Kalitta Air to lease a 767-300, N764CK, msn 26234
- Connie Kalitta, Kalitta Air's founder & CEO, joined Baltia's board (then abruptly resigned early this year)
Join Date: Sep 2014
Location: Canada
Posts: 1,257
Likes: 0
Received 0 Likes
on
0 Posts
Get it while it's hot! 
SEC filing:
SEC filing:
1. An amendment (the “Name Change Amendment”) to our Certificate of Incorporation to change the name of the Company from “Baltia Air Lines, Inc.” to “USGlobal Airways, Inc.,” such name change to occur at such time and date, as determined by the Board of Directors (the “Board”) of the Company in its sole discretion (the “Name Change Proposal”); and
2. An amendment to Article III of the Company’s Certificate of Incorporation, as amended, to effect a reverse stock split of the Company’s capital stock at a ratio of between one-for-25 and one-for-50, with such ratio to be determined at the sole discretion of the Board and with such reverse stock split to be effected at such time and date, if at all, as determined by the Board in its sole discretion (which is referred to as the “Reverse Split Proposal”).
2. An amendment to Article III of the Company’s Certificate of Incorporation, as amended, to effect a reverse stock split of the Company’s capital stock at a ratio of between one-for-25 and one-for-50, with such ratio to be determined at the sole discretion of the Board and with such reverse stock split to be effected at such time and date, if at all, as determined by the Board in its sole discretion (which is referred to as the “Reverse Split Proposal”).
An update !!!
"USGlobal Airways plans to lease a fleet of Boeing 767-300 aircraft..."
https://worldairlinenews.com/2017/05...m-newburgh-ny/
"USGlobal Airways plans to lease a fleet of Boeing 767-300 aircraft..."
https://worldairlinenews.com/2017/05...m-newburgh-ny/
Still not too late to get in on the ground floor !! ;-)))
https://www.ch-aviation.com/portal/n...ngbird-airways
https://www.ch-aviation.com/portal/n...ngbird-airways
No surprise here. Appears to be a spot of trouble:
https://www.ch-aviation.com/portal/n...estor-arrested
https://www.ch-aviation.com/portal/n...estor-arrested
