What you mention is called Economic Authority Permit which takes place in the final portion of FAA certification. For all intensive purposes, Baltia needs to have the financial viability to operate thier current operation. They have to provide a business plan which shows thier proposed method of operation. They have to display the fact that they are, "fit, willing and able" to conduct the operations proposed.
The question is...for comparrison purposes...How many planes did Jet Blue and Virgin operate when first certified? Hence the need for Ten's of millions of dollars. (not to mention Richard Branson, Virgin Airlines Founder, wipes his behind with more cash then that on a daily basis) There are so many small airlines we can sit here and begin to name that I'm sure didn't begin with TENS OF MILLIONS of dollars to qualify for econmoic authority. Take a trip to JFK and go to the section where all the small carriers are in the same building. LOL, some of these airlines look down right scary and you wouldn't catch me dead in one of thier planes let alone do they even appear to have ten's of millions to continue operating.
Baltia has to show the capability to operate thier one 747 from JFK to ST. Petersburg to qualify for thier economic authority. Another reason why we as investors can rejoice on the fact they began with one and only one plane.
