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.

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.

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.

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.

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.

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?

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.

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

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.

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.

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.

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.

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.

The only thing Tony is looking in his rear view mirror for are scorned shareholders and the Feds chasing him.

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.

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.

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.

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.

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.

SEC never said "soon". Read the Nov 5 Initial Default Order.

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.

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.

They had until 11/26 to appeal the 11/5 revocation decision. I suspect the ALJ will make it final very soon.

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.

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?

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.

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.