It seems like a far safer investment to buy into existing, stable airlines. The industry has shaken out a lot in the last 10 years. The legacies have consolidated to 3 (NW-DL, CO-UA, US-AA), and they're printing money now. The field of point to point and low(er) cost carriers has stabilized as well. If anyone invested what they put into BLTA into one of the establishment airlines that were floundering 15 years ago, they'd be pretty happy with their investment today.
Hindsight, I know. But my point is - I don't see any reason someone would invest in a startup airline with a management team that has the track record these guys do. None of these people have actually run an actual airline. Lampl was a spokesperson for BA, and apparently was good at his job. But he wasn't making any financial or operational decisions. And, what shell of an airline they had to work with, they have totally destroyed.
But hey - if you wanna keep investing in it on the grey - that's your prerogative. High risk, of course, and it will be a very long time before you may see any kind of reward, if you do at all.
