Baltia Air Lines Inc (OTCMKTS:BLTA) is an exciting story developing in sub penny land that has been highly successful in attracting a loyal shareholder base who has been supporting the stock.
In February BLTA announced that the second group of cockpit crewmembers, having completed ground training, has commenced simulator training. With the new class, which adds to the crewmembers who completed the first class, Baltia will more than double its cockpit crews.
BLTA is America’s newest airline, currently undergoing Air Carrier Certification. Baltia’s principal base of operations is at Willow Run Airport, Michigan. Upon Certification, Baltia will operate Boeing 747 aircraft across the Atlantic, from the U.S. nonstop to Europe. This service is subject to receipt of government operating authority.
Baltia Air Lines Inc (OTCMKTS:BLTA) recently entered into Stage 3 of FAA Air Carrier Certification, which is the final stage and consist of demonstration flights. Upon completion of the Air Carrier Certification, Baltia will commence scheduled non-stop service from its Base of Operations at Terminal 4, JFK Int’l Airport in New York to Pulkovo II Int’l Airport of St. Petersburg, Russia.
Back in 2010 BLTA purchased a Boeing 747 aircraft from Kalitta Air. Baltia carries $100,000,000 aircraft liability insurance, ground only, of which $10 million is through State National Insurance Co. and $90 million through Lloyds of London. Baltia is in the process of adding flight risk insurance of one billion dollars US ($1,000,000,000) prior to initiating flight.
BLTA seems to be quickly moving through Phase III of the FAA Air Carrier Certification entered into on October 10. Phase III consists of the Table Top Exercise, Mini-Evacuation Demonstration, and Proving Flights. “Passing through Phase II was a major accomplishment in the Certification Process,” stated Sheryle Milligan, Chief of Operations.
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The Company soon entered into the Performance Assessment Phase consisting of the Table Top Exercise, Mini-Evacuation Demonstration, and Proving Flights. A few days later Kalitta Maintenance signed off on the C4 Check of BLTA B747 Aircraft. The C4 check, sometimes referred to as a D Check, is the most comprehensive inspection that an airliner undergoes, occurring every six years. The inspection involves structural and systems testing using X-ray, ultrasound, and other methods.
BLTA announced on October 31 that it has contracted MIS Choice, Inc. for Departure Control System (DCS) service. The DCS handles passenger check-in and boarding functions which includes Secure Flight, Global API, APP, APIS for passengers and crew. The DCS interfaces with relevant government agencies and company operations control.
BLTA trading volume has exploded as the Company enters into Phase III of the FAA Air Carrier Certification. The Company has been focused on creating a U.S airline with non-stop service between JFK Int’l Airport in New York to Pulkovo II Int’l Airport of St. Petersburg Russia for years and seems to be entering the final stages of preparation.
Over the years BLTA has continued to burn significant cash in its quest while not producing any revenues and this has taken its toll on the share structure. Back in 2007 the Company had 197 million shares out compared to the 4.2 billion currently issued and outstanding.
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Currently trading at a $60 million market valuation BLTA is finally entering the final stages of preparation after which the Company hopes to operate non-stop service between JFK Int’l Airport in New York to Pulkovo II Int’l Airport of St. Petersburg, Russia. The Company benefits from a loyal shareholder base that swears this one goes higher. Maybe now that the Company is almost ready to start flying and the trading volume exploded skyward BLTA will give investors that spectacular run up they have been predicting all this time. We will be updating on BLTA when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with BLTA.
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Disclosure: we hold no position in BLTA either long or short and we have not been compensated for this article.