Should have news soon on this, biggest pending news I think. Acquiring a plane will set us up to continue the certification process. I still think the old 747 could be our silver bullet if it has enough market value to cover it's Kalitta debt and possibly the loan due the 22nd!



"UPDATE FROM BALTIA'S PRESIDENT, RUSS THAL:

After a thorough investigation that involved in depth interviews with our officers and other key employees, as well as numerous contacts with senior FAA executives, he recommended that we substitute our 747-200 aircraft with a newer more fuel and maintenance efficient aircraft.

Management has accepted this recommendation and is currently in discussions to lease newer aircraft. "



Sincerely,

Russell K. Thal
President & Chairman
Baltia Air Lines, Inc.