Upon a brief review of United Air Lines filings, what did them in was the contract salaries with their employees (essentially, a union)...and they couldn't get everybody to agree to decrease their pay. Long story, lots of filings.
Baltia Air Lines does NOT have that problem. They can give stock options as incentives; but they do not have to contract union style with all employees.
The only employees they have to contract with (or should contract with) are the Pilots (not flight attendants) and the maintenance crew and the machinists.
The more we study America's New Air Lines, the better it gets, it's like they learned from all of the others with debt, derivitives, unions etc. and they will not make the same mistake....imo.
The potential for Baltia, as an international air line and the Newest American Air Line is exponential. IMO