In August I heard about Baltia Air Lines for the first time, and I’ve been kind of obsessed ever since. To say I’ve been stalking them would be an understatement (hey, something had to replace La Compagnie, given that they’re operating fairly reliably nowadays).
Baltia Air Lines claims to be “America’s newest airline.” The only problem is they’ve been that for about 25 years now, and still haven’t flown their first passenger flight.
In my previous post I wrote about their supposed business plan of flying 747s between New York and Eastern Europe, about their Golden Rooster Club loyalty program, and about how they’ll apparently offer premium cabin passengers complimentary chauffeur service.
It’s really amusing to watch their Facebook page as well. Too bad Facebook wasn’t around 25 years ago. If you think they’re moving at a snail’s pace now, imagine what they’ve been doing for the previous 25 years!
Yesterday Baltia Air Lines posted a YouTube video to their Facebook page about how they’re moving into Phase III and how they’ve completed the D-check on their 747.
It’s a fascinating video, because it also shows their pilot and cabin crew training, as well as the interiors of their cabins:
https://www.youtube.com/watch?v=Yr4yqXfo55Y
Here’s their business class cabin:
And here’s their economy class cabin:
Glamorous, eh? We certainly can’t claim deny that they’re trying to bring back “the good old days” of flying. 😉
Seriously, I can’t even begin to say how fascinated I am by this airline. Clearly they don’t actually ever intend to fly. This airline has been 25 years in the making, they have a 35 year old 747 that has been sitting on the ground for nearly four years (at Willow Run Airport in Michigan, no less!), and they already scrapped their second 747.
This is a front for something. I just can’t figure out what yet.
Does anything think Baltia Air Lines will ever take to the skies? Or what is Baltia Air Lines a front for?
My spouse applied in 2014/2015 timeframe for a flight attendant position. They desperately wanted him to fly to NYC to interview in person. My spouse speaks elementary Russian and is a native German. I didn't allow him to go because my research on this company at the time showed a long history of delays and even though they claimed certification was just around the corner. For whatever reason today I thought I'd google them again...
My spouse applied in 2014/2015 timeframe for a flight attendant position. They desperately wanted him to fly to NYC to interview in person. My spouse speaks elementary Russian and is a native German. I didn't allow him to go because my research on this company at the time showed a long history of delays and even though they claimed certification was just around the corner. For whatever reason today I thought I'd google them again and see they have changed names and the SEC has de-listed them from public trading. Also a couple of years ago the Russian owner died. I'm fairly certain that this company will never fly.
It's called in PLAIN VIEW.... yes - it's a SCAM....!
Yahoo finance reporting:
JAMAICA, N.Y., May 26, 2016 /PRNewswire/ -- Baltia Air Lines, Inc. (BLTA) announced today that it continues to talk with various investment groups in order to raise the necessary capital for operating expenses and to secure leases for newer aircraft. This will enable Baltia to move forward with the certification process and in obtaining our 14 CFR 121 airline operating certificate.
In addition, an SEC letter to Baltia stated that...
Yahoo finance reporting:
JAMAICA, N.Y., May 26, 2016 /PRNewswire/ -- Baltia Air Lines, Inc. (BLTA) announced today that it continues to talk with various investment groups in order to raise the necessary capital for operating expenses and to secure leases for newer aircraft. This will enable Baltia to move forward with the certification process and in obtaining our 14 CFR 121 airline operating certificate.
In addition, an SEC letter to Baltia stated that the SEC does not intend to recommend an enforcement action by the Commission against Baltia.
Russell Thal, Baltia's President, stated, "launching Baltia has been a long and tedious process; I want all of our shareholders to be assured that the team at Baltia is working diligently to accomplish our goal of launching Baltia." Mr. Thal further stated, "We will keep our shareholders advised of further developments."
Some of you people make me laugh. You must be the Bashers from Ihub. This airline is the real deal. It's taken so long because they had to raise so much capital without anything coming in. If you know anything about the company, you'd know that they had a mini evac taking place tonight. If they pass, they'll move onto the proving flights, then certification. They already have multiple crews trained and ready to go....
Some of you people make me laugh. You must be the Bashers from Ihub. This airline is the real deal. It's taken so long because they had to raise so much capital without anything coming in. If you know anything about the company, you'd know that they had a mini evac taking place tonight. If they pass, they'll move onto the proving flights, then certification. They already have multiple crews trained and ready to go. They got a great plane. You speak of the age of N706BL, but just like cars, if taken care of, they can last awhile. N705BL was the plane they sold. It was sold because there were too many issues with it. That's when they replaced it with the current plane. Barry and Igor are determined and will get this airline making revenue soon.
You guys that say this is a "front" for something else are clowns. This is a legit airline that the FAA is using resources on to certify. Willow run airport in Ypsilanti is where the action is currently at. JFK is where it'll be once certified. If it was a front, do you think they'd be so public with REAL offices? Nope. They'd tell you about offices, but wouldn't show pictures because they didn't exist. I've seen their offices.
Just seen that Baltia Engages 121 Inflight Catering.. Choose Catering company. .this getting funnier and funnier
"Baltia Air Lines 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 JFK Airport New York to Pulkovo Airport St. Petersburg, Russia. "
@ Endre -- They have to put out a new press release every week pretending they're making progress or else their investors may eventually lose confidence. ;)
The Youtube movie has been removed
That's awesome. Golden rooster sounds really tasty!
The first thing I did was look up the OTC stock. I couldnt agree with adam more... homemade ATM. I'm wondering if they posted these "new" pics to get their stock to jump a penny.
The pics really show off the state of the art IFE though.
As choi said, there are now 747-400's out there. And they'd save money because the -400 has a 2 person cockpit crew. And uses less fuel. And what's the point of buying a jet and scrapping it? I don't get Baltia's plans. I think they might be run by a snail. Or a fool. Probably both.
@Alex good eye, spiral staircase. Definetely a 747-200, if not earlier.
Ben,
Finally!!....... I have followed your blog for well over a year now and you are amazing - You have answered many of my questions when I wrote in and you have helped me and my family fly in cabins we never thought were possible. And best of all you have done this all for free!!
And now ..somehow, you have stumbled across a topic at which is the center of my world, finance!...
Ben,
Finally!!....... I have followed your blog for well over a year now and you are amazing - You have answered many of my questions when I wrote in and you have helped me and my family fly in cabins we never thought were possible. And best of all you have done this all for free!!
And now ..somehow, you have stumbled across a topic at which is the center of my world, finance! It will be my pleasure to help you understand this.
Baltia Airlines is a publicly traded company on the over the counter exchange, the OTCQB. BLTA is the stock ticker and it currently has a insane market capitalization of $69,000,000.. yes 69 Million dollars. I have personally meet several officers of the airlines at Financial conferences in New York through the years, namely the Deal flow conference. Ben, What you must wrap your head around is this fact that the main reasons companies go public (list on an exchange) is the ease of raising capital. So for an OTC stock with a $69,000,000 market cap raising capital is not very difficult at all. Therefore, It's in Baltia interest to never fly- simply use the public vehicle as a means of generating working capital through stock issuances.
There in lies your "front". To some degree they have themselves a homemade ATM machine.
Ben, Baltia will never fly.. they can't or else the funds will dry up.
Adam
@ adam -- Fascinating, thanks! Wow...
Gosh, there are some dumb rich people, apparently.
Looks like a 747-200 to me!
are they nuts, a lot of 747-400s are coming off line and available and yet they went with the 300. with the winglets of the 400, it will save them some fuel bills over time. not too smart.
That's the old Northwest Airlines interior. Fascinating organization...
Why don't they just take all the 747s that DL is retiring?
Man I crack myself up.
It's probably the most elaborate penny stock scam I have ever seen. No doubt their principals have engaged in several rounds of pump-and-dump. Tough to regulate that sector...
Here's the old bird!
https://www.google.com/maps/place/Willow+Run+Airport/@42.2392242,-83.5438152,106m/data=!3m1!1e3!4m2!3m1!1s0x883b57143b8b46bd:0xfa266c3ae6719033
Wait a second, so they scrapped an aircraft they never operated? :D
Some Russian Scam.. Same as the Hungarian Solyom airline a year ago. Solyom painted one (1) plane in England to their colors, collected investment and dissapeared. Love Eastern European businesses.
That is the old NW's bird, right?