Paper airplane?
Rendering of a US Global jet.
STEWART AIRPORT – It is over a year-and-a-half since US Global Airways announced its plans to operate nonstop service between New York Stewart International Airport and cities in Europe, the Middle East and Caribbean.
The airline is the latest incarnation of Baltia Air Lines, which for some two decades, has unsuccessfully tried to start passenger service.
The airline continues to rent space at fixed base operator Atlantic Aviation’s hangar along Route 17K on Stewart’s Town of Newburgh side.
Last summer the US Securities and Exchange Commission pulled the plug
on Baltia’s permission to sell stock to raise the funds needed to
purchase at least one airplane to commence service. The SEC stay on trading
was based on the company’s failure to file regularly scheduled reports.
“The company has not yet filed its financials as it is still trying to secure financing to pay off liabilities and to establish the new airline, US Global Airways,” spokesman John Lampl said recently. “Members of the executive team continue to work diligently in securing capital to launch the SWF-based airline as stated in the US Global website.”
Meanwhile, Bernstein Liebhard LLP, an investor rights law firm, recently posted on social media: “To file a lawsuit against Baltia Air Lines and its executives for securities fraud, including issuing materially misleading business information to the investing public, contact: Daniel Sadeh, Bernstein Liebhard LLP.”
Several phone calls and emails to Sadeh and the law firm were not returned.
