Baltia Air Lines Inc. (fka BLTA)

[certdog]

It's not black and white. They have to operate a revenue flight every 90 days. If they don't, then the FAA will review their status and must approve the return to service. They've been dormant now for for over 180 days and the plane has been in storage. As long as all the pilots, management and the plane are current with all manuals up to date, this review probably wouldn't be too big a deal.
Each day that goes by will make the Feds more and more nervous and wanting to cover their ass. The review will get tougher and tougher. If they told the FAA Sept 15th and it doesn't happen, I think that's a bigger deal than the acquisition deadline for investors and shareholders.
I've seen the FAA in full cover their ass mode many times and it's not pretty.... but no, technically the certificate is not perishable and there's no specific "eat by" date.