Baltia Air Lines Inc. (fka BLTA)

[phl08]

What I read into the lease announcement is this...

BLTA put down $10K to secure a lease to be started no later than 7/30. Kalitta can revoke this to convert back to cargo, which I presume to mean if BLTA doesn't start paying the monthly note. Of course, they can't easily do that without cash. And we have no idea how much cash and expenses they have since the books are tied up in the audit.

Kalitta is a successful business. If BLTA doesn't start paying up for the 767, they have no choice but to pull it back into their cargo operation.

And, why all this focus on ONE plane. They can't realistically start this airline with ONE. Maybe they'll buy a 121 certificate and get some airplane leases with it. Maybe they have a plan to lease some more planes by the time they intend to start flying. Maybe the sky will turn red. We really have no idea at this point other than a lot of puffery over the past few months.