Justice Sirikah

Another Remix Of The Age Old Hymn By Baltia Air Lines, Inc. (OTCBB: BLTA)

by Justice Sirikah September 25, 2009

  blta_logo.jpgTrue to its history of miscued efforts, Baltia Air Lines, Inc. (BLTA.ob, or OTCBB: BLTA) has reportedly turned another page on a catalogue of explanations in as far as its maiden take-off is concerned. This time around, the 20 year-old New York-based start-up commercial carrier that had of late touted to start connecting large U.S cities and some Baltic destinations late this summer, found fault with a delayed airworthiness certification from the Federal Aviation Administration (FAA).
 
  In recent excuses that cast a cloud over the long-awaited service, Baltia said there will be an unforeseen postponement for the submission of manuals that are required by the FAA before granting an operating permit. The company is now expecting to go past that huddle in October, meaning its first plane can only hit the runway in February 2010, given that the FAA will need between four and five months to review the credentials.
 
  In stark contrast to the latest developments, the airline’s VP of finance, Barry Clare, was last month quoted as saying: “It was always a lack of capital, not a lack of know-how…This time around we went out and raised the capital that we felt was necessary to launch, even before we submitted our application to the Department of Transport…It looks like this time around Baltia Air Lines will fly”. This was when confidence in Baltia camp ticked up on the acquisition of a second-hand Boeing 747-200 from an undisclosed career.

  The long-overdue launch would have started with a pioneering flight between JFK and St. Petersburg, then afterwards connecting Moscow, Vilnius, Tallinn, Minsk and Kiev. But as it seems, the launch will remain a pipedream, even when it has been 18 years since the wannabe aircraft enterprise was approved to service the New York-St. Petersburg route by the United States Department of Transportation. From that time to date, some of the cities of the former Soviet Union, which the airline plans to connect, have even changed names, while the authorization has been withdrawn due to a plagued income stream, and reissued again and again.

  At the time of writing, BLTA shares were keeping up with the news of dimmed start-up prospects, trading at $0.0290, from the previous closing of $0.03.
blta_chart.jpg
  Reference:
http://www.baltia.com/

 

Comments 0

Type the characters that you see in the box (5 characters).