Replies to post #67310 on Baltia Air Lines Inc. (fka BLTA)

[kayakzz]

LTO:

You missed the fact that Baltia might have lost out on the credit line Igor gave them, $4.5 million. I say "might" because it is gone now but may have already been unavailable or maxed out.

[Carsmax177]

Thank you for your opinion, however I disagree.

1. As of the quarterly report for period ended June 30, 2015 BLTA showed a cash balance of $0. As of the financial statement ended September 30, 2015 BLTA showed a balance of $14,940. BLTA has no revenues to date so the only other conclusion is the money came from funders.

2. I am guessing you are referring to the email from the FAA on the "loss of 706 airworthiness" If we go back to the original post, we will see that it was a Notice of Proposed Denial. Proposed means:

put forward (an idea or plan) for consideration or discussion by others.

Additionally, this was from that email:

The Notice of Proposed Denial does not constitute a final order. Baltia has 30 days to reply to the FAA.

See post 64795 for full posted e-mail.

People have posted that BLTA met with the FAA in middle December. Obviously if it was lost, there would be information out there regarding that.

3. it was stated from posters at the ASM that they are waiting to do the landing gear until they hear from the FAA. Until then, they are cutting costs and running as lean as possible to limit PP sales. The building 151, furlough of crew are moves to conserve cash until they hear from the FAA they are moving on. People at the shareholders meeting said that BLTA did state that they can use the crew if they get the green light within the next 2 to 3 months.

See Speckulater's post #66822

4. People at the ASM meeting posted that there were investors there willing to provide funds if needed by BLTA. This tells me that BLTA has access to the funds, however they do not need them right now.

So, all this results in...BLTA does not have insufficient funds.

IMO

[Inorout]

BLTA is IMO, bankrupt now. Crazy to throw any more money into the BLTA blackhole. No different than burning money.