Baltia Air Lines, Inc. (OTC PINK: BLTA) continues to talk with various investment groups in order to raise the necessary capital for operating expenses and to secure leases for newer aircraft, the company said.
This will enable Baltia to move forward with the certification process and in obtaining its 14 CFR 121 airline operating certificate.
In addition, an SEC letter to Baltia stated that the SEC does not intend to recommend an enforcement action by the Commission against Baltia.
Baltia Air Lines, a development stage company, intends to provide scheduled air passenger, cargo, and mail transportation services. It focuses on offering its services from the United States to the Russian Federation, as well as to the former Soviet Union countries; and a non-stop service from New York to St. Petersburg. The company was founded in 1989 and is headquartered in Jamaica, New York.