In 2014 I first wrote about Baltia Air Lines, which is America’s oldest startup airline. They’ve been in “business” for almost 30 years, except they’ve never actually flown a commercial flight, despite having owned a 747-200 for over 20 years (which they finally dumped last year, after hiring a consultant who told them it might…
Continue reading: SHOCKER: Baltia Is Rebranding As USGlobal Airways, And Has A New Business Plan (Again)
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Is it just me or does this seem like some sort of shady front or way of embezzling or laundering Russian money?
I don't exactly know what the purpose is (if they're not recording revenue then they're not really laundering money) but it just doesn't make sense if something isn't going on behind the scenes...
'A boarding meeting is happening this Thursday'
@Lucky - I think you mean a "board meeting" unless they plan on having it as they try out their new 767 😉
"Sir US Airways is taken..."
"Add Global, World, whatever you can to make it work!!"
> We are proud to announce USGlobal Airways....
Anyone who invests in this would be dumb as rocks. You cant launch an airline with a fleet of 1 widebody aircraft in which boeing may just end the program with soon enough.
But what's even worse, how the hell has one person been there for 30 years and not leave the company? There's no tangible business that he would get paid on! Makes no sense. Unless the "airline" is just a way for someone to launder dirty money.
We will see the CEO on an episode of American Greed or something like that in a few years. Im sure. who knows where all those millions of dollars went?!
There are lots of enterprises like this. Their "business" is selling stock to gullible investors and then using the money to pay their salaries. The elderly, immigrants are all fodder. The problem is that if they don't lie but are just a terrible business proposition then there isn't that much the SEC can do. It's up to the investor to read the materials and run as fast as they can away from the deal. Unfortunately a lot of people do neither.
Even when there is a clear violation the SEC moves very slowly. There are blatant frauds that went on for years before finally being shut down.
The name change seems inorder if they want to target other markets that eastern europe. Baltia sounds appealing to an eastern europe market and i guess they just proved that market model is a cropper. USGlobal Sounds more appealing to the new market..
This is obviously some kind of money laundering / tax evasion scheme...The airline doesnt need to have revenues in order to launder money. There are many other ways to do it.
does this mean my ticket from Baltimore to Trenton on a 747-200 (good luck trying to land on that short runway is no longer good?
For anyone who actually wanted the news conference, it was sad. Orange County's Economic Counsel and Executive Leadership are really excited --- talked about a waterfall of job creation and influx of dollars to the County. Really just hope Balt --- err --- USGLOBAL doesn't drop the ball.
Once again, Lucky, you've written an article that has false information in it: "After this shakeup, the airline came up with a new business plan. Rather than flying a 747 between New York and Eastern Europe, they’d instead become a regional airline within the United States, and fly between BALtimore, Trenton, Islip, and Albany."
The company has never stated anything remotely close to that. You're taking fake news from a stock forum and posting it here, which seems to be quite ignorant of reality.
You should be aware that Tony Koulouris and the team of successful entrepreneurs have created an entirely new company in USGlobal Airways. It has absolutely nothing to do with the company known as Baltia, that possibly defrauded tens of millions of $ from gullible investors. Absolutely NOT! This is a whole new company....capiche! You will be the BIGLY loser if you don't buy shares immediately!