Baltia Air Lines Inc (OTCMKTS:BLTA) has been making explosive moves up the charts in recent weeks as the Company launches transatlantic passenger flights between Stewart International Airport and selected European countries covered by the US-EU Open Skies Agreement.
The stock has been on the run as the Company held a shareholders meeting on Thursday, May 11, 2017 at Stewart International Airport Hangar G, located at 169 NY- 17K, Newburgh, NY 12550. BLTA is one stock that has got everyone’s attention attraction legions of shareholders and was regularly placing among the top volume movers on the exchange.
Baltia Air Lines Inc (OTCMKTS: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.
The Company 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.
Last year BLTA said 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.
On May 11 USGlobal Airways, a proposed new U.S.-based international airline, today announced its intention to operate transatlantic passenger flights between Stewart International Airport and selected European countries covered by the US-EU Open Skies Agreement.
Under prior management, USGlobal Airways (which is currently called Baltia Air Lines, Inc., but is in the process of rebranding) never received U.S. government certification to operate. During 2016, the company underwent significant corporate and operational changes, including new leadership that has made the very significant decision to hub its operation at Stewart International Airport (SWF), approximately 55 miles north of New York City.
“Our new airline is well-advanced in the process of restructuring, reorganizing and refinancing and hopes to receive U.S. government regulatory approval and certification in the not too distant future in order to serve international routes to and from Stewart that are currently poorly served or underserved,” said Anthony D. Koulouris, CEO and President, USGlobal Airways.
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Currently trading at a $48 million market valuation BLTA has minimal asset, no revenues and a fast developing debt problem with well over $4 million in liabilities that has led to significant dilution. But BLTA is an exciting story developing in small caps; the Company is currently undergoing FAA Air Carrier certification and is in 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. BLTA benefits from a loyal shareholder base that swears this one goes higher. 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.