Replies to post #6751 on Baltia Air Lines Inc. (fka BLTA)

[speckulater]

D.O.T.: Sufficient Financial Resources


bliz82
the 1/4 of the cost of the first year's expenses which should be at least another 4M


Sir, this is why you should perform elementary research BEFORE you post and make yourself look foolish and not credible. This very question was already answered for you on December 19, 2008, by the DOT, read it with your own eyes.



From the United States Of America Department Of Transportation, Office Of The Secretary Washington D.C.:


OPERATING PLAN AND FINANCIAL POSITION

We have reviewed the applicant's projected costs, and believe them to be reasonable. Based on these forecasts, the applicant's pre-operating expenses are expected to total approximately $2.1 million, with first year expenses totaling approximately $17.2 million. Therefore, in order to meet our fitness requirements, Baltia will need access to approximately $6.4 million.

Accordingly, Baltia provided third-party verification from Morgan Stanley, HSBC, Chase, Capital One, and Wachovia evidencing that it had $1.4 million on deposit in its accounts. The applicant also provided evidence that it had arranged for lines-of-credit totaling $5.1 million from Messrs. Igor Dmitrowsky, Brian Glynn, Walter Kaplinsky, Barry Clare, Russell Thal, Nicholas Oppegard, Vasko Gjelaj, and Joe Pampalone, and provided third-party verification confirming that each of these individuals had access to sufficient funds to extend the lines-of-credit proposed.

In light of the above, we tentatively conclude that Baltia has access to sufficient financial resources to commence one scheduled roundtrip flight per week between New York, New York and St. Petersburg, Russia, using one large aircraft without posing an undue risk to consumers or their funds.


On page 8 of 18:
http://www.regulations.gov/fdmspublic/ContentViewer?objectId=09000064807e3bee&disposition=attachment&contentType=pdf




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[baseball69]

Well if you read their first year operating pro forma they issued to the DOT their projectionsof 1 daily round trip flight for one year will generate 100 million in revenue with a 40 million dollar bottom line at a 64% load capacity and these numbers were calculated when jet fuel prices were @ roughly $3.74 per gallon. They are currently around $1.90 which should actually increase there EPS even higher since there net operating costs are substantially reduced due to the decrease in jet fuel prices.