Monday, August 6, 2018

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Wannabe Stewart airline faces even more troubles

STEWART AIRPORT – US Global Airways, the startup airline that wants to provide service from New York Stewart International Airport to the Caribbean and Europe, has hit another stumbling block.

The airline’s parent company, Baltia Air Lines, now faces a bill for $22,660,808 due to an alleged breach of a lease for four Boeing 747 jet engines, plus charges, fees and interest.

A default judgment in that amount was granted to Logistics Air, Inc. by the Second Judicial District Court of the State of Nevada.

It has been over a year since Baltia/US Global announced its plans to acquire airplanes and operate international service from Stewart. It still rents space at the airport.

To speed up the process, it had a deal to purchase Songbird Airways for $6.5 million and acquire its FAA operating license to speed up the process to become certified to fly on its own. Baltia/US Global paid a $1 million deposit, but because it failed to proceed with the closing as scheduled no later than October 31, 2017, Songbird’s parent company, AerLine Holdings, terminated the deal.

More recently, on May 12, 2018, the US Securities and Exchange Commission suspended Baltia’s stock trading over compliance issues.

 


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