Here's what I think the the main issue is. I don't think Baltia fully understood the requirements of the certification process. I know the process supposedly changed quite awhile ago at this point, but I really don't think Baltia was prepared for the curveball that the FAA threw. They are blaming the FAA for all these delays, but I don't buy it and I know most others don't either anymore. A company with the resources (people, experience, expertise & financial) would have been able to work through the issues with the FAA. Unforunately, Baltia had been working with the bare bones in most of the above resources which has drawn out this process much longer than anyone would have liked.
Since Baltia never confirms or denies much of the above tells me that the above is probably true. I think the fact that they have no experience in running an airlines has hurt them tremendously in this process. I know they have expertise in certain areas, but none in running the whole process of running and airline. They also did not have the contacts or relationships with the FAA and other related entities to help get this done in a timely manner. Due to this fact and the fact that BLTA had no experience in this process, I think the FAA did not take them seriously and decided to just work on their application on an as needed basis.
I do think that Baltia is doing the best they can with what they have to work with, but I also believe they have been less than truthful or forthcoming with what the issues have truly been throughout this process. I think they were fearful of admitting their own shortcomings for fear of all the money drying up. Probably smart, but painful for all us investors who believed in their ability to get this done in the timeframes we were constantly fed by them.
Anyway, all we can do is "HOPE", as PIPA said, that this happens anytime soon. When I met with ID a couple of weeks ago he had high expectations of getting a plane in the air before years end. I'm not so sure that can happen with all the tasks that still need to be completed. And Oh yeah, they still haven't even been given approval yet.
Just some of my own thoughts and feelings to add some life to a board that has gone dead because there is nothing else to talk about right now. Here's to hoping that changes soon! Cheers!
