There are a few problems with this... but they are

There are a few problems with this... but they are good problems to have.  Unfortunately the premise is slightly flawed in that I think we have already discussed that he Float is about twice that, unless, you have another mechanism?    Doubling the market cap is a factor of Price times shares, mixed with supply and demand factors...  I actually think the market cap will double much sooner due to supply and demand.  However the higher you get the law of diminishing returns takes hold.  That 1500 that bought shares at this level will not buy the same shares at the double the market cap by 100% and diminishing as you proceed up the curve.

Now I think that earlier investors are wise enough to know that they should hold until they have trading costs covered and release shares back to the market based on that determination, plus some profit...  Hopefully they are wise enough to understand their release point.  On the flip side- the unsold shares are just left to their account...  basically taken out of the cycle for a while...

Should be interesting...

I do not think you can work off Delta Valuation. They have many facets that Baltia doesn't translate one to one - Affinity Programs, Energy investment research, flight partnership programs, merchandising.... The devil is in those details.   However = none of that means that here is not some parallel along the way....  The huge amount of revenue is easily offset by the large fleet, and even larger unionized historical costs....  (ugh - I wish there was a way to avoid these)

However, I would guess that about 25% of delta's routes are actually profitable.  Whereas 100% of Baltias will be...   Man this is fun....

As fun as it is, it make take a little longer than a year to reach 1.