CFO of fledgling airline resigns


STEWART AIRPORT – The interim chief financial officer of Baltia Air Lines, doing business as US Global Airways, has resigned and the board of directors named a replacement.
The airline, which rents space at a hangar at Stewart International Airport at Newburgh, had hoped to secure federal approvals to commence service from the airport by this winter. That has not happened.
Mario Conte stepped down as CFO on February 7. The board named Michael Jordan as the new chief financial officer, according to a recently filed Securities and Exchange Commission report.
“The resignation of Mr. Conte as chief financial officer was not the result of any disagreement by him with the company or any matter related to the company’s operations, policies or practices that led to his decision to resign from such position,” according to the SEC filing.
The report said Jordan, 55, has 20 years of experience in the financial services industry “with a focus on global capital markets.” He has served as an independent consultant to the company since June 3027 in its efforts to obtain an institutional financing.
Last May, top company officials announced an ambitious plan to develop international passenger service from Stewart to eventually include destinations in Europe, Russia and the Caribbean. 

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