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Eagerly interested to hear what transpired today in the courtroom.....
This is interesting. And it would be nice to see a US3 carrier line up for this route, but considering Delta canceled their long running JFK-SVO route (which I believe they acquired from PanAm in 1991 during bankruptcy), I don't see any direct service to Russia by any US based airline anytime soon. The economic and political climate may not be ripe just yet.
The horse to watch in the next decade is the new Airbus single aisle A321XLR with a 4700nm range. It's designed to be a replacement for the aging (but bulletproof) 757, but with more range and lower CASM.
That could easily fly BOS/JFK/EWR/PHL to LED or SVO due to the reduced cost over using a widebody like an A330, B777, etc. UA and AA have placed orders for the 321XLR, and they will certainly be looking to put them on the longer routes with lower yields and passenger volumes. It's also a good option for routes further into Eastern Europe from the Eastern USA, and also routes into Latin America mid markets.
***************
What up, Tony-K-Baloney? Baltia in line for Pulkovo?
https://simpleflying.com/st-petersburg-is-set-to-become-the-new-lcc-battle-ground/
Are Dmitrovsky and Rukmanis handing out the slots? And the yogurt concessions?
Heart and Soul is all good and well, but Igor had ~25 years before his passing to get Baltia off the ground and it still never happened. Not a single penny of revenue.
Plenty of airlines came and went in that same period of time and the FAA didn't do anything to stop them as long as their books, policies and other required certifications were in order.
There are plenty of visionaries who have gone broke or were smooth snake oil salesmen.
Monroe1 Member Level Wednesday, 09/04/19 12:25:05 PM
Re: AKthisistheone post# 104686 0
Post # of 104701
Yes, it was obvious he put his heart and soul into it, and that is what killed him. Folks in the FAA and elsewhere perhaps just did not want it to be.
BLTA, if it really even exists any more, can sue anyone they please. So can you and I.
Getting a court to go along with your logic is, well, unlikely. The slides failed. The BLTA 747 did not get certified. Whatever is happening with the MAX is not really relevant to BLTA's issues, at all.
It's officially over, but this board will live on forever with wild speculation for sure.
Monroe1 Member Level Wednesday, 03/27/19 01:02:31 PM
Re: Monroe1 post# 104417 0
Post # of 104418
To any fair minded legal eagle .... so could this present atmosphere around the safety issues with 737 Max present an opening for Baltia to sue the FAA? Recall that 747's were in the air with faulty slides and some not working when deployed on the ground.
onroe1 Member Level Thursday, 03/21/19 01:00:54 PM
Re: LongTimeObserver post# 104372 0
Post # of 104380
did you see this?
Interesting comment from the CCO of LED.
I'm sure they've begged DL, AA and UA to fly LED from NYC. DL would have a hard time justifying it after backing out of Moscow. AA uses all their JFK slots for LAX, SFO and LHR. They've actually been pulling back their European routes from JFK and building up PHL, which has more AA European destinations than any of their other hubs. UA would be a good contender, as well, from EWR.
My gut tells me that if it happens, it will be with Aeroflot. They have the Russian market and loyalty.
Indirect traffic to the US is very high, with many connecting mostly via Moscow and Helsinki. The top unserved destination is New York, and it is on our top priority list to develop this route. We had success in discussions with a few carriers before the economic conditions changed in Russia a few years ago. We have also had discussions with several airlines regarding the possibility of fifth-freedom rights to fly via St. Petersburg onto the US, and this is a business opportunity that we are working closely on, as well as continuing talks with other carriers.”
DL kept that one going for a while, and if they didn't have the Aeroflot partnership, it would have been over long ago. The Russian economy tanked and Aeroflot fares are also a lot lower for DL to compete with.
AA also tried it some time back from ORD to Moscow. That didn't last very long, though.
mysterymeat Tuesday, 03/12/19 05:48:44 PM
Re: Zorax post# 104302 0
Post # of 104304
The only flight path Baltia owned outright was the one straight into the crapper.
The once a week to Saint Pete was taken away long before Igor's fake death.
Plus Delta canceled direct flights into Russia a year ago.
https://www.ruaviation.com/news/2018/3/6/10961/?h
You can't believe any words that come from LT. And, there's no way DL offered a penny for this non-airline in 2015. There is absolutely no paper trail of this, least of which being a filing from Delta.
Lostintheflood Monday, 03/11/19 04:09:45 PM
Re: None 0
Post # of 104298
Wow. Can’t stop thinking about what Lt posted on March 30, 2015. Delta offered $500 million for the company and Igor said no!!!
A year ago people were predicting the trips. That happened, and then quads...and now today quints! .000001 baby! How low can it go! The end is near...
You don't really know what I do or don't know. One thing I know is that you don't launch a new airline pinning all hopes on a single route based on "common sense". You don't launch a business just based on common sense either.
You haven't answered my question - if it's a "common sense" "moneymaker in more ways than meets they eye", why hasn't an airline with a solid foundation done it?
Monroe1 Member Level Tuesday, 01/22/19 06:49:43 PM
Re: phl08 post# 104107 0
Post # of 104118
No, there is more to it than you know about the existing routes. Secondly marketing research is something I know plenty about. Common sense alone suggests it would be a money maker and then warrant more investigation. Even a gas guzzler would make money on that route just in freight and diplomatic travel along with their diplomatic pouches. Yes, a huge money maker in more ways than meets the eye.
Monroe1 Member Level Sunday, 01/20/19 09:12:25 AM
Re: phl08 post# 104099 0
Post # of 104106
And yes, any direct route to a major city in one of the most highy regarded tourist destinations and unserved is a money maker. WE would have made good money on that route and with the additional routes to be added into eastern Europe.
How would you know "ONE" person is accumulating, unless you were responsible for 90%+ of those transactions we've seen since delisting? The random buys/sells here and there could just as easily have been people just trying to dump what they have and recover what morsels are left.
Mini Evac could have passed and there's still high unlikelihood the company would have turned a profit trying to operate a single route/plane with high maintenance costs, high crew costs due to needing 3 in the cockpit of a gas guzzling, aging 747-200 vs. 2 pilots on the 747-400, high costs for a prime slot if they stuck with JFK, the list goes on. If St. Petersburg Russia is a high demand route from NYC, why has not one single airline attempted it? Delta made a good run of Moscow, but dropped it. Even Aeroflot only flies the JFK-Moscow route, despite having the best business case - if one were to be made - to fly JFK-LED.
There's no reason to think woulda' coulda' any more. There's no upside to investing in this burning piece of paper. No assets, no route authority, no FAA certification, no SEC filings. If I had all the money in the world there would still be no reason to even look at this heap of rusty bolts.
Monroe1 Member Level Friday, 01/18/19 02:25:37 PM
Re: AKthisistheone post# 104085 0
Post # of 104098
Looking back over the past few months. Someone has been accumulating.
Norwegian closing Stewart base. Will BLTA rise from the ashes and fill the void? Or maybe they just weren’t making a profit on those routes.
https://www.reuters.com/article/uk-norwegian-air-routes-idUSKCN1PA2HH
If you believe Tony's self inflated bio on LinkedIn.... I'd love to know what companies "Koulouris Enterprises LLC" has raised capital for. Baltia is certainly not one of them.
https://www.linkedin.com/in/anthony-d-koulouris-9858b1/
Managing Partner
Company NameKoulouris Enterprises
Dates EmployedMar 1991 – Present
Employment Duration27 yrs 11 mos
Koulouris Enterprises, LLC is engaged in raising capital for new and existing companies as well as trading in various commodities. Industries of expertise include: Aviation/Aerospace, Shipping, Real Estate, Energy and Pharmaceuticals.
Baltia Airlines
Total Duration6 yrs 3 mos
TitlePresident
Dates EmployedNov 2016 – May 2017
Employment Duration7 mos
LocationNew York, New York
TitleChief Financial Officer
Dates EmployedFeb 2016 – May 2017
Employment Duration1 yr 4 mos
LocationGreater New York City Area
TitleVice President of Marketing
Dates EmployedMar 2011 – Feb 2016
Employment Duration5 yrs
LocationGreater New York City Area
integral Member Level Tuesday, 01/08/19 09:40:08 AM
Re: phl08 post# 104028 0
Post # of 104051
The Bio's are quite minimal. What is Tony's bio? Experience, education etc.?
More excuses and old news. Tony became CFO almost 3 years ago and CEO 18 months ago. More than enough time to - at a minimum - file the flipping financials.
Monroe1 Member Level Friday, 01/04/19 01:06:20 PM
Re: phl08 post# 104034 0
Post # of 104035
Given the circumstances of Igor's death and Thals age, I disagree.
I must have missed that DD that showed a wise BOD to have promoted the CFO to CEO. Any other BOD would have dumped Tony for lack of confidence and competence.
As CFO from Feb 2016 to May 2017, he only filed one quarterly report (Q1 2016) and the 2015 annual report. He missed 2016 Q2/3/4 and 2017 Q1 along with full year 2016 during his official tenure as CFO. That's grossly negligent, at a minimum.
Then they promoted the negligent CFO to CEO in 2017 and he's had one failed plan after another, starting with the gradioise plans at the May 11, 2017 SHM, Kalita 767 lease, Songbird deal, false promises for full transparency and complete silence in all of 2018.
That is not a wise BOD by any stretch. And if there were any official shareholder meeting, most would call for Tony's ouster.
All your hyperbole about how 9 out of 10 companies failing, tough industry, etc. do not address all the above shortcomings of the BLTA CFO turned CEO. They are just excuses.
He's been an utter failure in every single task he's been given while at BLTA.
That's not my opinion, it's fact backed by empirical evidence.
Monroe1 Member Level Friday, 01/04/19 12:16:49 PM
Re: LongTimeObserver post# 104030 0
Post # of 104033
DD shows they were wise. Let's don't get confused
I still don't see evidence of any experience to run an airline. A CFO doesn't learn how to manage the books on the job, and a CEO doesn't learn to run an airline on the job. Tony has ZERO competence in either of those titles he's held, nor does he even deserve those titles.
Monroe1 Member Level Friday, 01/04/19 10:11:55 AM
Re: phl08 post# 104026 0
Post # of 104027
So when you work under Russ Thal and others and then you have to deal with the FAA and DOT and go through those processes you tell me one does not learn. OJT is the best experience. That was the point you missed.
He has zero experience running an airline. That's indisputable. We have no idea if he's learned what to do/not to do because he hasn't done anything to correct the errors of the past. HIs shareholder letters were outright lies, especially the ones in the end of 2017 when he said the financials were complete and they were "striving" to release them. What does that even mean!?!? It was a clear pump attempt, and it worked. Either the financials are done and they WILL release them or they're not.
Before he was CEO, he was CFO. He's had many years of deep insider knowledge of the finances of this operation. So, no, he's completely inexperienced in running any kind of successful airline. This was never an airline. Just because they bought a Cessna Citation 6 seat jet for crab dinner flights doesn't make it an airline.
Monroe1 Member Level Thursday, 01/03/19 04:57:13 PM
Re: phl08 post# 104021 0
Post # of 104025
You cannot say he has zero experience. OJT, he has learned plenty, especially what not to do! He was not alone as you know there were others on the team before him and during his time as CEO who have sufficient experience. Capital was a huge problem.
Absolutely zero experience operating an airline. Hasn't produced a penny of revenue. Skirted responsibilities to file timely financials. Leaves shareholders in the dark for the better part of a year. No assets. No certificates. No route authorities.
Tell me please - who's piggybacking on whom and how would it MUTUALLY benefit both parties?
Tony and BLTA are very much on the SEC radar. Don't kid yourself.
Monroe1 Member Level Thursday, 01/03/19 12:23:55 PM
Re: phl08 post# 104018 0
Post # of 104020
Yes, unless we have a piggyback airline then they will be helping him. Many ways to stay under the radar.
The only thing Tony is looking in his rear view mirror for are scorned shareholders and the Feds chasing him.
Monroe1 Member Level Wednesday, 01/02/19 08:35:28 PM
Re: Anvil post# 104014 0
Post # of 104017
Tony, is he looking in the rear view mirror at what could have been?
If there was foul play, Tony, Igor and anyone else could have challenged the FAA 5 years ago.
The SEC doesn't care about an FAA certification process. And BLTA said they will not fight revocation. I don't know how much more clear it can be to those who think some phoenix will rise from the ashes.
Monroe1 Member Level Tuesday, 01/01/19 09:04:33 PM
Re: AKthisistheone post# 104002 0
Post # of 104010
Did all the evac chutes on Air Gitmo work according to plan? Did FAA make an exception? Tony may have a row one seat, but could claim foul play and demand equal treatment before bailing out. Will they call in Scotland Yard or will Mrs.Top Gun SEC be able to handle it? This could go on for no telling how many more months.
Only way to go is an order of final revocation.
At this point, the PPS won't be affected in any positive way by released financials.
Over a year ago, they were complete - by Tony's words. The company was "striving" to release them.
But the braintrust has chosen to not release them. They have chosen to stay silent on the numerous events of 2018.
The financials will reveal no assets, no income, and big liabilities.
New Year, NO Baltia.
Monroe1 Member Level Thursday, 12/27/18 10:12:32 AM
Re: Small Time Joe post# 103949 0
Post # of 103964
So only one way to go,,, up!
So we should have been long gone by all the prognosticators counting down the days, weeks, months, years.
Still here though. So how high and fast will the PPS go if the financials are ever released?
New Year, New Baltia???????
42.5 cents traded today. That may be a record for lowest value BLTA trade!
Someone who knows more about the greys please explain to me how a sale like this even gets processed?
My understanding is that a seller needs a broker able and willing to find a buyer, who also has a broker able and willing to buy for them.
In this case, assume it was a single transaction of 4250 shares @.0001/share. Did the broker actually find someone out there and spend his/her time completing this 42.5 cent transaction? What kind of fees do buyer/seller pay on this? Why!?
Or is this something less manual and more automated?
To Our Valued Shareholders:
As we approach the end of 2017, I want to thank all of you for your loyalty, support, and commitment to our shared vision. Without you, this company and our effort to launch an operationally successful airline would not exist.
The past twelve months marked a significant change in the company's direction, management, and approach to obtaining air carrier certification. Despite the many obstacles we have overcome, we continue to evolve as a company that holds its shareholders' best interests at heart. Our team will continue to pursue a path that we firmly believe will yield a thriving business.
On behalf of the company, I wish you all a prosperous and healthy 2018.
Yours sincerely,
Anthony D. Koulouris
There has not been an official update since the holiday letter last December 29, 2017.
The poorly written web site blurb is just a cop out, and hardly an update at that.
Tony hasn't addressed the shareholders or the media directly in about 50 weeks.
AKthisistheone Monday, 12/17/18 05:35:32 PM
Re: None 0
Post # of 103917
Half a year without an update Tony is a real winner
no, it's like fishing in an empty lake. Maybe a few pieces of junk found along the bottom, but certainly nothing of any value.
We'll be back into the quads soon enough. That stinks for all the accumulators.
rab74 Tuesday, 12/11/18 03:58:20 PM
Re: AKthisistheone post# 103859 0
Post # of 103860
I do want some more shares....be greedy when others are fearful
So past results guarantee future results? Ok.
Why do you presume the stock would, in theory, go "on a tear" just because the financials are released?
They have no revenue. No income. No FAA certification. No route authority. No assets. No business plan. Shall I go on (again)?
Any whale that wants to invest in a startup airline has many other, better, options out there.
It's not about the SEC being honest or not. BLTA has it's own issues with honesty and transparency that got them to this place.
Monroe1 Member Level Monday, 12/10/18 11:57:27 AM
Re: AKthisistheone post# 103847 0
Post # of 103849
...so if we ever get the financials this stock will go on a tear Mach 5 speed, that is if it survives the honest SEC.
SEC never said "soon". Read the Nov 5 Initial Default Order.
Monroe1 Member Level Monday, 12/10/18 10:03:57 AM
Re: AKthisistheone post# 103841 0
Post # of 103847
Soon, the SEC said soon
The website is hosted by GoDaddy - the cheapest provider out there. They probably paid like $200-$300 for a full year or two. The domain name expires Oct 2019, at which point the web site would go away unless someone renews it.
runningsloth Member Level Thursday, 12/06/18 10:45:28 The website is up that's a good sign
If you can get your broker to put a buy order in for 5B, we may see the price rise again to .01.
I'm familiar with them and they did not violate anything. Please stay on the topic of BLTA.
No, it's not interesting because the public was notified in accordance with the SEC regs. And how does this have anything to do with BLTA?
With FB it was done legally, the public was notified. They wouldn't be the only company to have done this either.
Baltia, on the other hand, has failed to even file the required financials for several years now. There is no justification for "special permission". In fact, they have been given multiple opportunities to make good on the late filings but, according to the SEC, have not responded to a single notice given this year. The only response we know of is their web page blurb that they will not be fighting revocation.
Monroe1 Member Level Thursday, 12/06/18 10:42:38 AM
Re: Anvil post# 103818 0
Post # of 103820
yes, but special permission was granted.... which buyers knew this. I watched it by the minute coming out and trading between 24 and 30 bucks then starting to go below $12. The public did not know they were dumping. My price of 8.50 was not filled.
They had until 11/26 to appeal the 11/5 revocation decision. I suspect the ALJ will make it final very soon.
Pennywize Member Level Tuesday, 12/04/18 10:19:14 AM
Re: None 0
Post # of 103801
Wasn't revocation supposed to happen by end of November?
If so, why wasn't it? Any answers?
Not sure just what you mean. The SEC filings were done and that ink is dry. If it's determined they intentionally contained false information, then that is a crime. No judge or lawyer can "fix" that. They can only alter the punishment once convicted.
Monroe1 Member Level Friday, 11/30/18 09:58:21 AM
Re: LongTimeObserver post# 103744 0
Post # of 103754
Nothing a judge can't fix or a lawyer who is owed one.
As stated, SEC filings with misleading information constitutes wire fraud.
What proof do you have that the FAA and DOT acted "bad"? What proof do you have that the FAA was corrupt when BLTA failed the Evac test for certification?
Monroe1 Member Level Thursday, 11/29/18 11:19:05 AM
Re: LongTimeObserver post# 103737 0
Post # of 103744
Economic yes from DOT. FAA problem with certification in Songbird deal. Bad acting by the DOT at the last second. Wire fraud proven?
I never thought the Songbird deal was a smart move at all. Their financials were already horrendous and they were trying to buy a part 121 op with a 25+ year old 737 airframe. Even if they flew that aircraft 12 hours/day with profits exceeding $10K per flight, they still had too much baggage weighing them down. That's just pure numbers that can't be disputed.
I question the Kalita deal, as well. A single aging 767 is expensive to maintain. They couldn't operate more than a few transatlantic flights per week, which are expensive in themselves and would rely on solid passenger/cargo yields. Again - another tough road.
My hunch is they never really thought the 767 or 737 would come to fruition to start operations. In the end, it was about pumping up the stock as long as they could.
2 cents by the SHM and 5 cents after was being touted by the now absent cheerleaders in April 2017. It barely made a penny before it went down and never came back.
Monroe1 Member Level Wednesday, 11/28/18 08:43:00 PM
Re: Anvil post# 103731 0
Post # of 103739
one of the best? naw, not as far as Tony goes as President. Here is the thing, had the Songbird or Kalita lease contract gone forward we would all be saying how smart he was.
You keep making comments like this but when pressed for reasons why you feel this way, what actions has the management taken to give you this warm and fuzzy feeling that "they have a good chance of surviving", you never answer that. You just keep repeating yourself.
Monroe1 Member Level Tuesday, 11/27/18 12:29:48 PM
Re: LongTimeObserver post# 103712 0
Post # of 103714
I think they have a good chance of surviving in one form or another. Sure hope so....I do see a ray of hope and so do many others