Important Suggestion for Shareholder Meeting...
I've been involved in a number of start-ups, as part of management and mainly as an investor. I know from experience that management is always eager to focus on milestones met and PR, and downplay and PR themselves around the tough questions. From Igor's letter to shareholders posted earlier it appears he would spend a good deal of time on things he's accomplished.
While it's important to get the good news, and acknowledge mgmt for a job well done, the largest part of a shareholder meeting should be focused on the road ahead, getting answers to the tough questions. This will only happen if attending shareholders ask those tough questions and make sure they are answered and not brushed off with PR. This goes for any meeting, not just BLTA.
If I can make a recommendation, I would suggest some of those shareholders attending the meeting go in there a bit organized. Some of you on this site put your heads together and assemble a list of questions you want answered and get them into the hands of some of you attending. Some on this site are quite knowledgable about the airline industry. And then after the meeting, post the Qs and As on this site for all to read.
There seems to be much speculation on this site about steps ahead and the time it takes to get them done.
I'd want to know from management what exact steps lie ahead with certification, major steps to the point of getting the plane flying and generating revenue, how long each of those steps is estimated to take and their worst case scenario time, and the cost associated with each step. You also want to get an idea how much more dilution you will experience before this thing launches.
Management should have a sequence of these events with a time line pretty much laid out, and I would demand they go through it in the shareholder meeting. Then take a lot of notes. The FAA doesn't fly by the seat of their pants, their requirements are very specific and in sequence.
While I hope for all that Baltia launches soon, they have already spent a great number of years and have postponed all sorts of milestones repeatedly. A knowledgable shareholder base has a much better chance of holding them accountable than if one is just speculating and hoping it will all happen soon. It's your money on the line, and your money making the airline possible, you have a right to know the facts.
AI
