The DOT initially pulled the plug back on 9/13/17. It would appear the sharp dude got an extension until 10/31/17 to raise the capital needed, and to satisfy whatever else the DOT required. The sharp dude was suppose to provide proof they had the money to Aerline 15 days prior to the closing, which would have been 10/16/17 at the latest. That didn't happen. Due to Baltia's debts they were unable to raise the capital. Then on 11/1/17, with no money, no plane, and not enough of the required personnel, the DOT made it official.
Baltia's old debts will never go away, and their situation will never change.
Last year Tony was probably given some really bad advice from a whale, who recommended rebranding Baltia, when he should have abandoned it and started a brand new company free and clear of Baltia's legacy.
