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Good things going on, potential for multi bagger from current PPS. Please read the filings and do some historical research. The DD will speak for itself.
From recent 10QSB:
"As of August 9, 2007 we had $1,200,000 in working capital. We have plans to lease a Boeing 747 aircraft, have rented additional office space for air carrier certification and start of service at JFK, Terminal 4, and are in the process of making necessary arrangements for aircraft maintenance, ground servicing, and passenger services."
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Posted by: EricVan In reply to: None Date:9/15/2007 3:51:28 PM Post #of 554
.BLTA DD Spynosis
About Baltia Baltia Air Lines, Inc., a development stage company, intends to provide scheduled passenger, cargo, and mail transportation services.It would provide its services from the United States to Russia, as well as to the former Soviet Union countries. The company was founded in 1989 and is headquartered in Rego Park, New York. BAltia is getting ready to operate the new and only Nonstop flights from JFK to St. Petersburg.
About St.Petersburg The New York to St. Petersburg air route is a huge market directly connecting two major, world-renowned cities with populations of 10 million and 6 million, respectively. St. Petersburg is the second largest city in Russia and the fourth largest city in all of Europe, following Paris, London and Moscow. Over 1 million U.S. travelers go to St. Petersburg every year, while $1 billion USD in cargo is shipped there annually.
Competitve Advantages of Baltia -The Fly American Act states that U.S. law prescribes that all U.S.-funded travel, passengers and cargo, must use U.S. carriers. So many U.S citizens MUST use BLTA to fly to St.Petersburg.
-Baltia is the only Non-stop carrier from NY to St.Petersburg. The Government gave BLTA the route btw NY and St.Petersburg OVER 12 other carriers.
-Expansion in Riga, Minsk and Kiev also expected..
Key Facts -When they first tried to raise capital. They were looking for 5 million $ in IPO ,interesting fact is that the offering was over subscribed showing strong interest from wealthy investors/institutions in the company. Subsquently, the principals self funded the IPO lost their money because of CIBC.
-Recent change in Financing:From BLTA's last 10Q dated August 10, 2007: "As of August 9, 2007 we had $1,200,000 in working capital. We have plans to lease a Boeing 747 aircraft, have rented additional office space for air carrier certification and start of service at JFK, Terminal 4, and are in the process of making necessary arrangements for aircraft maintenance, ground servicing, and passenger services."
-The DOT approval is expected in October to commence flight operations. Also, The test flight is projected for this Fall according to Barry Clare. Basically, they are getting for flight operations ( they have a Terminal at the JFK airport!)
-Lee Howard 76,of Atlanta, chairman of Airline Economics International, Inc., a consultant on more than 75 major airline projects and the former publisher of the prestigious industry magazine, Airline Quarterly said Baltia's plan was right on target."The route that Baltia was awarded by the DOT is a beautiful, well planned program. The cargo portion of his plan alone is very valuable. If there is anything cargo shippers hate its a stop over.
Valuation -First year of operations : Net income of 53 million on revenue of 181 million dollar=> 42 cents per share Industry P/E ~ 5 => $2.00
-Second year of operations : Net incom of 100 million on revenue of 337 million dollar=> about $1.00 in EPS Industry P/E => $5.00 per share
Virgin Atlantic started with 1 plane they are now valued at a market cap of 1.85 billion Ryan Air started with one plane alos they are now valued at a market cap of 1.26 billion Current market cap of Baltia around 26 million dollar.
What to look for -An 8K confirming the FAA approval -A PR updating shareholders about the recent financing and the progress of the company. -The start of flight booking from various customers. -Institutional money to start buying
Organized by the Company’s founder, Baltia’s management meets regulatory requirements and has been previously found qualified by the DOT and the FAA to operate a U.S. airline.
Igor Dmitrowsky, President. Mr. Dmitrowsky, born in Riga, Latvia, has developed and promoted new businesses for more than 25 years. He founded American Kefir Corporation, a dairy distribution company, which completed a public offering in 1986. During his long and successful business career, he has financed aircraft and automotive projects. Mr. Dmitrowsky is fluent in Latvian, Russian, and English.
Lawrence M. Hecker, Director of Flight Operations. Mr. Hecker has spent more than 40 years in aviation, including airline, military, general aviation and government service. He has served as President and CEO of a junior company at the forefront of space commercialization and as Chief Operating Officer of an air ambulance carrier. Mr. Hecker was recalled to TWA as Senior Vice President of Flight operations to help the company emerge from bankruptcy. Mr. Hecker has served as Deputy Administrator of the Federal Aviation Administration.
Russell K. Thal, Director of Operations Control. Prior to joining the Company, Mr. Thal was Chairman of Compuflight, Inc. Previously he worked as Director of Stations for New York Air, and before then as Director System Operations for Seaboard World Airlines.
John Chanda, Director of Technical Services. Prior to joining the Company, Mr. Chanda was Director of Maintenance for Tower Air. Prior to it he was the Head of Maintenance Department for TWA.
Joseph Verner, Chief Technical Inspector. Prior to joining the Company, Mr. Werner was Vice President, Maintenance and Engineering for TWA.
Robert S. Volpe, Inspector of Operational Safety. Prior to joining the Company, Mr. Volpe was Aircraft Maintenance Planner for Tower B747 aircraft. Previously he worked as Inspector and Consultant for the CIT Group/Capital Equipment Financing.
Hans G. Wolf, Director of Cargo Handling. Mr. Wolf, with technical and management skills acquired during 23 years of service with Trans World Airlines, specializes in air cargo marketing, sales, and service. At TWA, Mr. Wolf served as Vice President of Cargo Sales and Marketing, Director of Cargo Pricing, and Manager of International Cargo Pricing. After leaving TWA, he served as Vice President of Air Cargo, Inc.
Victoria Charlton, Vice President of International Relations. Ms. Charlton has a background in international promotions. She organized the Company’s promotional sponsorship of the St. Petersburg Festival at the Met. During various she served as executive director of Gateway Projects representing merchandising rights for Paramount Studios, LCA (Warner), MCA (Universal Studios and DeLaurentis Studios). Ms. Charlton has presented exhibitions from the Hermitage Museum in St. Petersburg and organized performances for Russian artists and the leading companies in the United States. In 1993, she organized a lecture tour for Mikhail Gorbachev in England.
Captain Glen Johnmeyer will serve as the Company's Chief Pilot during completion of the Company's certification. Presently, he maintains his professional qualifications with United Parcel Service. Mr. Johnmeyer has more than 10,000 hours as pilot in command of jets which includes more than 1,350 hours as pilot in command of the B747 aircraft. Between 1968 and 1972, Mr. Johnmeyer was an Honor Graduate of the Fixed Wing Aviator Course, Aircraft Commander, Instructor Pilot, and Standards Pilot for the U.S. Army. Since then he has been employed as Captain, First Officer, Instructor, and Director of Operations in U.S. commercial aviation.
In addition to the individuals listed above, Baltia staff includes a number of other management professionals who have extensive major U.S. airline experience in aircraft maintenance, flight operations, regulatory compliance, passenger and cargo sales, service, and administration.
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Found This on I-Hub: Should be a GREAT PLAY-
BLTA--Talked to Bob Strom( vice president IR,760-202-0672) late this afternoon--9/13. BLTA has everything set to cater the big extraviganza. News of first flights in Feb going to be PRed in Oct(next PR). Bob said "we are not going to PR fluff".Share structure staying as is with 13M float. BLTA is going to get massive on the ground press coverage in NY-London and Russia. ALL funding is taken care of they have plenty of money to get started and then some. BLTA is confident the stock will trade multiple dollars as they add more planes and build a fleet. A/S is high because they are going to acquire more planes(wiggle room). ALL systems go on every level!
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MUST READ ARTICLE ON BLTA!!! In the wake of a decision by the Canadian Imperial Bank of Commerce (CIBC) to withhold their clearing-house processing for a public offering by New York based Baltia Airlines, ``incredible loss and misery has been left,' according to Igor Dmitrowsky, Baltia's founder and CEO. Baltia Airlines, Inc. is suing CIBC and its wholly owned subsidiary, CIBC Oppenheimer for damages of $150 million under the Securities Exchange Act and conspiracy under U.S. federal racketeering provisions (RICO). The case will be heard on March 26, at the US Court of Appeals in New York (40 Center Street, Foley Square, United States Courthouse,10:00 A.M.) The US Department of Transportation awarded Baltia Airlines the only non-stop route between St. Petersburg Russia and North America. Flying out of JFK Airport, their five round trip flights per week would take eight hours each way. Baltia, to qualify as a US Air Carrier for this route, proved to the DOT that they were fit, willing and able. Their bid was chosen over eleven other applicants. Baltia's $5 million share offering was approved by the Securities Exchange Commission and listed on the Nasdaq Small Cap Market. Hornblower & Weeks, Inc., a Wall Street brokerage company, and Baltia's underwriter, agreed to acquire all the shares on a firm commitment offering. All the stock was pre-sold by Hornblower to its clients. Five days before the trading was to start, CIBC, Hornblower's clearing house for many years, informed them that would not process any orders relating to Baltia. Larry Hecker, Vice President and Director of Operations for the small airline, and former Deputy Administrator for the FAA under President Reagan, said, ``Baltia Airlines would have been in operation a long time ago if it wasn't for CIBC.' ``They didn't even give a reason for their withdrawal, and in my opinion what they did was illegal and immoral,' he said. Hecker went on to say that, ``CIBC made both a written and oral commitment with Hornblower & Weeks. Then CIBC made their departure at the last minute, with no explanation, no forewarning, no chance to replace them...nothing!' ``They had more than a year to leave if that was their intention. Obviously there was more to it', he said. ``I believe in the concept and I believe in Igor,' he said. ``He is one of the most tenacious, honest and admirable men I have ever known,' Hecker said. ``Baltia was a good idea when it was conceived, and for many reasons it's even a better idea now.' Hecker is generally considered by most business persons and government officials associated with the field of aviation to be the one individual responsible for TWA's turnaround from 1993 to 1995. Bob Volpe, 44, his wife and their two small sons, of Brooklyn New York are ``still reeling' from CIBC's ``derailment' of Baltia's public offering. ``We were so proud to be a part of this exciting opportunity and it ended up costing us most of our life's savings and our pension fund. The news that CIBC had backed out of their commitment was devastating to us.' Volpe is still listed as the Director of Technical Operations for Baltia Airlines in the company's prospectus and claims he would ``go back in a minute if they get their financing together.' He took another job in the computer field after the public offering was ``slammed shut' by CIBC. In 1998 Volpe took the job with Baltia because he ``was so impressed and confident with the team, their talent and their terrific plans.' ``I wanted to have the chance to show what airline mechanics are all about and to go far beyond, even the strictest guidelines of the FAA. It was the opportunity of a lifetime I dreamed about,' he said. ``Igor is very intelligent and a great guy. He did everything in his power to hold the troops together. But when your company is hit with a devastating low blow like we were from CIBC, and your company virtually runs out of money, you have to take alternative steps,' Volpe said. ``I worked for two airline companies prior to joining Baltia, and I saw first hand what a roomful of powerful attorney's could do. I'm amazed how Steffanie Lewis (Baltia's Attorney) has hung in there and stuck to her guns. In terms of legal horsepower CIBC definitely has more horses...but having more horses doesn't make them right... morally or legally!' Brian Glynn, Vice President of Marketing for Baltia Airlines since its inception in 1989 is still very confident that Baltia will prevail in this ``David versus Goliath' struggle. ``We put everything into this...our hearts, our souls, our money and our energy. We finally saw the light at the end of the tunnel when we succeeded over eleven other airlines to win this route to St. Petersburg,' he said. ``This was no small feat. We had the talent, the support and the plan to make it work. And we still do!' Glynn said he has never had a job that he enjoys so much as his position with Baltia. ``Working with the top officials in St. Petersburg and planning our satellite connections to areas where the residents, who felt ignored from the rest of the world, were so excited to meet with us.' ``St. Petersburg is such an amazing city. To have two great cities connected by our efforts is extraordinarily exciting.' ``From cultural, technological, and industrial standpoints, St. Petersburg stands out in the world. Rachmaninoff's first concerto was premiered there, Prokofiev showcased his works there and it is even argued that Shakespeare's Romeo and Juliet also premiered in St. Petersburg. They have more cultural exchange programs than anywhere else in the world,' Glynn stated. ``We made tremendous sacrifices for this project,' Glynn said. ``Some far beyond the call of normal duty. I have watched our families grow up under the strain of this dream. I have watched marriages crumble under the burden of the long hours and tremendous tasks,' Glynn added. ``We put a wonderful team of tremendous talent together. One that I don't think could be easily duplicated. The DOT recognized this When CIBC pulled the rug out from under us they hurt a lot of extremely good and talented people.' ``The early visionaries of this project, Igor Dmitrowsky, Walter Kaplinsky, who invested every penny he had to his name, Steffanie Lewis, our General Counsel and myself were really crushed emotionally and monetarily when CBIC did this to our company,' Glynn said. ``CIBC damaged our reputation for no justifiable reason other than their own self-interests,' Glynn said. ``They devastated our strong financial position...and we didn't even need them.' ``Their excuses make no sense at all. They were part of Hornblower's and Baltia's plans for over a year. Then they pulled out five days before trading was to start.Give me a break!' ``Of course it hurt Hornblower & Weeks too. They did a great job on this offering and they were hit with a bombshell as well,' Glynn said. Hornblower & Weeks also has an action against CIBC relative to the Baltia Airlines, Inc offering. ``Fortunately we are going to continue and we will prevail,' Glynn concluded.
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