JAMAICA, N.Y., May 26, 2016 /PRNewswire/ -- Baltia Air Lines, Inc. (OTC-PINK: BLTA) announced today that it continues to talk with various investment groups in order to raise the necessary capital for operating expenses and to secure leases for newer aircraft. This will enable Baltia to move forward with the certification process and in obtaining our 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.
Russell Thal, Baltia's President, stated, "launching Baltia has been a long and tedious process; I want all of our shareholders to be assured that the team at Baltia is working diligently to accomplish our goal of launching Baltia." Mr. Thal further stated, "We will keep our shareholders advised of further developments."
William E. Kassar, Jr.
Director, Investor Relations
Baltia Air Lines
SOURCE Baltia Air Lines, Inc.