Is The End Finally Here For Baltia, America's Oldest Imaginary Airline?

I'm very disappointed. I am a businessman in Albany seeking to fly to Islip (one-stop via BWI) to conduct important meetings, and then fly onward to Trenton (one-stop via BWI) in time for some rest and next-day meetings.

My whole retirement strategy was built around the 10k shares of Baltia stock that I bought for $17. Now I'm going to have to work until I'm 80.

St. Petersburg isn't a European capital.

This airline sounds like the world's longest pump and dump.

@Mitch - but you can! (Well, almost.) Southwest flies ALB-BWI 6x/day, and BWI-ISP 5x. And American flies ISP-PHL, you'd have to take SEPTA the rest of the way.

If Baltia wasn't such a joke to begin with, I'd almost think they noticed that the 800-pound domestic gorilla was already entrenched in BWI and that their idea was a colossal disaster two decades too late. But that'd be giving them far more credit than they deserve.

Doesn’t this seem like a vehicle from which to launder money?

This "airline" was set up to rip off newly arrived immigrants from Russia and Ukraine looking to cash in on the American dream of striking it rich in the stock market. I'm also sure money laundering may pay a part

"They’ve been taking money from investors for about 30 years, though they’ve never operated a commercial flight, despite the fact that they had a 747-200 for over 20 years"

This is hilarious. 30 years. How did this happen?

You should read "Conspiracy of Fools," which is about Enron. Nothing about corporate greed/nonsense/stupidity will surprise you after reading that...absolutely nothing.

@Rain17 I was thinking the same thing. Corporate shells and dummy corporations are after all a very popular vehicle for laundering money.

Corruption and corporate malfeasance are very common in the US, probably approaching the levels in Russia and China. It can only get worse with the scrofulous horror entrenched in the WH.

@Lucky, I'd be careful about how you describe what the SEC has done - as "revocation" (as you have described it) or "suspension" (as the company has described it). The two are different things and of course the consequences for the company are different - and so therefore are the (potential) consequences if somebody mis-reports what has happened.

I can't at the moment tell from the links you have provided which of the two it is - the link referring to the "revocation" doesn't seem to work.

Baltia pioneered the perfect fraud scheme - the airline scheme

@Tom link works fine, and it states: WASHINGTON, D.C. – Baltia Air Lines, the aspirational carrier that made a splash at Stewart International Airport last year, lost its ability to sell stock Monday when the Securities and Exchange Commission revoked its registration.

Please continue this comical coverage of Baltia! always enjoy reading the updates. I may actually be sad when they eventually shut down "in the best interest" of their shareholders.

I've heard that Baltia will be leasing or buying the mysterious Zimbabwe Airways 777 that's currently parked at Harare Airport. They apparently tried the aircraft by merging with Zimbabwe Airways, but ZA nixed the deal because it was "too shady".

Isn't this just the modern equivalent of the South Sea Company?
(Google South Sea bubble)

I'm surprised it's managed to stay as long as it has.

Tom, here is the link to to the ALJ's initial decision to revoke Baltia's registration.
https://www.sec.gov/alj/aljdec/2018/id1254cff.pdf

Also Baltia's Wall Street super genius and CEO, Tony Koulouris has already informed his loyal shareholders, that Baltia will not being filing an appeal. On 7/9/18 the ALJ's decision will be finalized.
https://www.usglobal.com/

I looked into this for a friend who was considering investing, and we both ended up just watching for entertainment value. The Director of Communications is a travel blogger, the CEO has ZERO experience in aviation, and most of the board is composed of people Baltia owes lots of money to. Their certification expert has zero experience actually working for a 121 air carrier which showed in how quickly they gave up in actually getting certified. No viable plane, no viable business plan but they do have a nifty model of a 767 on someone's desk and two hired models wearing a flight attendant uniform!

I was actually offered a job at Baltia in 92. They were supposedly going to start ops with 2 767's within 6 months.

I was another one who was duped into investing in Baltia back in 2012. Met Tony and went to dinner in Miami Beach as he explained the upcomings of Baltia. Attended at least one stockholders meeting in N.Y.. I was also called by the SEC during their investigation. I was a believer! Should have invested in real estate! Does anyone know if they ever filed for bankruptcy?

My husband and I bought this stock about 15 years ago.
My husband was an airline captain for 32 years.
Nothing has happened. Same today as it was then.

My daddy bought a TON of stock back in early 2009, I think, and after his passing, I still have a TON of shares. Nothing has happened since 2012. I keep hanging on to it in hopes that daddy's dream will come true. No one can tell me anything! Frustrating.

Sorry

I $75,000 of worthless Baltia. Is there still a business. I'm wanting to write off this loss, but I don't know th status of the company. Can anyone give me an update?

Thanks,