JAMAICA, N.Y., Nov. 4, 2016 /PRNewswire/ -- As Baltia's (OTC-PINK: BLTA) new President, I am writing to provide you with a long awaited update. Over the past few months, there have been many inquiries and rumors as to Baltia's status with regards to FAA air carrier certification as well as the company's ability to sustain operations.
Although it has been a difficult task, we have maintained our core team and operations and continue to function effectively on a daily basis. We are currently vetting new aircraft and evaluating the procedural changes required to successfully add the new type aircraft to the organization. Though continuing on the current path has been necessary, I feel it is paramount to embark on a new direction for this company. My vision for this airline is to create a brand that will fill an important and much needed niche in international travel. This will require re-branding, re-structuring and the ability to forge new relationships with vendors and business partners. We will leverage existing technologies and enhance efficiencies to create a model that will provide profitability and multiple revenue streams upon implementation. Part of the aforementioned restructuring will include re-capitalization, streamlining of the balance sheet as well as becoming current with all required SEC filings. With regards to re-branding, a new name has been chosen that will better represent the ambitions and future of this company as a US airline. This ambitious endeavor will also require diversification of our Board of Directors and management team. The recent addition of Conrad "Connie" Kalitta to our board is a prime example of our desire to attract qualified, proven, and successful individuals to guide us towards a path of success. We are honored and privileged to have an aviation icon like Connie on our team. Towards that end, I have begun the process of assembling an experienced team of aviation and business professionals to complement the powerful team that is already in place.