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Pipa

06/03/12 11:59 AM

#13899 RE: Devolution #13897



Welcome

Dear Shareholders,

I would like to take this opportunity to update you on our progress with the Air Carrier Certification. We have received the comment letter. This is something we all have been awaiting. Our staff is now working to implement the comments in an efficient and timely manner. I’ll continue to update you on our progress.

Thank you for your continued support.

Sincerely,

Igor Dmitrowsky
President
Baltia Air Lines