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Replies to post #87008 on Baltia Air Lines Inc. (fka BLTA)
07/14/17 12:19 AM
On May 9, 2017, Baltia Air Lines, Inc. (the “Company”) entered into an Aircraft Lease Agreement (the “Agreement”) with Kalitta Air, LLC (“Kalitta”), pursuant to which the Company will lease a Boeing 767-400ER model aircraft from Kalitta. Such aircraft will be equipped for worldwide geographical operations. The Company will take delivery of the aircraft no later than July 30, 2017 for a term of 24 months unless Kalitta recalls the aircraft for conversion from passenger use to cargo. The parties may also choose to extend the term of the lease. Under the terms of the Agreement, Kalitta is required to provide the Company with all historical records related to the aircraft airframe and engines in order to meet regulatory requirements. No later than five business days prior to the delivery date of the aircraft to the Company by Kalitta, the Company shall pay to Kalitta a lump sum basic rent payment. Thereafter, the Company will be responsible for monthly maintenance fees in connection with systems, zonal and structural checks, accumulated flight hours, accumulated flight cycles, landing gear overhaul and certain heavy repair maintenance. The Company intends to use this aircraft to obtain its Air Carrier Certification with the Federal Aviation Administration, which is currently in process.
