Dx 747's to Russia - Baltia Airlines looking someone w Int'l experience

Seems like it might be an interesting project. I wouldn't pin the hopes and dreams of my family on it though. Maybe a "something to do" type gig for a retiree or someone who can afford a financial risk. I'm thinking that list is pretty short.

Hooking up with any start up is like sitting down at the roulette wheel. You might win big, but your fate is entirely out of your hands. Working at Ryan taught me that no matter how incredibly talented and dedicated your staff might be, it doesn't amount to chit if the executives don't care.
 
Anyway about this specific opportunity, I see several items of concern, even before CPZ900's tidbits of information came to light.

First, Russia? Given the current geopolitical climate, trying to establish a commerce contract to a country we are presently imposing sanctions on is, well, interesting.

Second, how many 747-200's are left that are considered serviceable? Considering the cost of maintaining them along with the "aging aircraft" standards in place (read: more expensive and time consuming inspections), it sounds a little funky. Though, if Baltia already owns the equipment I suppose an argument can be made. I remember a certain start up that was going to grab the Ryan certificate (red flag number 1), attach the L1011 to it (red flag number 2) and be up and running in 6 months (red flag 3).
 
I'd be taking a serious read of this:

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10315804

  • Cash: $29.5 thousand
  • Total current assets: $29.5 thousand
  • Total current liabilities: $2.7 million
  • Revenue: $0
  • Net loss: $5.4 million
The numbers are by no means optimistic. The company is very short on cash and assets while its liabilities have been going up. Baltia Air Lines has made no revenues since its inception and has accumulated an alarming net loss of over $106.6 million. In the past quarter, the amount of net loss BLTA incurred has increased compared to the previous quarters.
 
Well that kind of makes sense. To start an airline you are basically going to spend a crapload of cash before you make a penny, what with the fact that you need things like airplanes and stuff... Having effectively no cash on hand is a bit disturbing though. 29G won't even be enough fuel to get all 4 engines started.
 
They might need to appear on...

18boss-sharktank-blog480.jpg
 
I wouldn't waste my time on this rubbish airline. For years they were saying they were going to be based in NYC. The NY FSDO didn't like what they were serving. They had more issues with their manuals and overall operating plan than you can shake a stick at. Don't waste your time with this. In the words of Mr. Wonderful "I'm Out"
 
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