BALTIA AIR LINES, INC. (OTCMKTS:BLTA) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers

Appointment of Daniel J. Buckley as Chief Financial
Officer

On May 8, 2017, Anthony D. Koulouris resigned from his position
as Chief Financial Officer of Baltia Air Lines, Inc. (the
Company), and the Board of Directors (the Board) of the Company
appointed Daniel J. Buckley as Chief Financial Officer. Mr.
Koulouris will retain his position as President and Chief
Executive Officer of the Company.

Mr. Buckley, 51, has over 20 years of experience in the financial
services industry. From 2015 until 2017, Mr. Buckley was the
regional sales director of Source IT Technologies. From 2011
through 2015, Mr. Buckley was the Director of Finance for Baltia
and thus has extensive institutional knowledge as to the Companys
operations and reporting history. From 1997 to 2003, Mr. Buckley
held various institutional brokerage positions at Cantor
Fitzgerald and Tullet Prebon and from 2003 to 2011, Mr. Buckley
was a senior institutional broker at Tradition Financial Services
where he focused on foreign exchange options as well as single
stock equity options. From 1994 to 1997, Mr. Buckley was a
financial analyst for General Electric Investments in Stamford,
Connecticut. From 1988 to 1992, Mr. Buckley worked as an options
trader on the floor of the Chicago Mercantile Exchange. During
his university studies, Mr. Buckley interned with Sikorsky
Aircraft in Stratford, Connecticut, where he rotated through the
engineering, quality control and customer service departments.
Mr. Buckley received a B.S. in business and finance from the
University of Rhode Island and completed his MBA at SDA Bocconi
in Milan, Italy. The Company believes Mr. Buckleys extensive
investment and business experience as well has his institutional
knowledge make him a qualified appointee as Chief Financial
Officer.

No family relationships exist between Mr. Buckley and any of the
Companys other executive officers or directors. There are no
arrangements between Mr. Buckley and any other person to which
Mr. Buckley was nominated as Chief Financial Officer. There are
no transactions to which the Company is or was a participant and
in which Mr. Buckley has a material interest subject to
disclosure under Item 404(a) of Regulation S-K. Mr. Buckley is
not a party to any material plan or arrangement in connection
with his appointment as Chief Financial Officer.

In connection with his employment with the Company, Mr. Buckley
shall receive a monthly salary of $6,000.

About BALTIA AIR LINES, INC. (OTCMKTS:BLTA)

Baltia Air Lines, Inc. (Baltia) is a development-stage company. The Company provides scheduled air transportation from the United States to Russia, the Baltic States and the Ukraine. Baltia is in Phase III of the FAA Air Carrier Certification. The Company has two trademarks: Baltia and Voyager Class. Baltia intends to commence scheduled non-stop service from its Base of Operations at Terminal 4, JFK Int’l Airport in New York to Pulkovo II Int’l Airport of St. Petersburg. The Company intends to provide nonstop passenger, cargo and mail service from JFK to St. Petersburg and from JFK to Riga, with online service to Minsk, Kiev and Tbilisi, as well as back up service to Moscow. It intends to operate as a Part 121 carrier, a heavy jet operator. Baltia intends to start the JFK-St. Petersburg service with one round-trip flight per week, then increase the frequency to over three round trips, and then to approximately five round trips.

BALTIA AIR LINES, INC. (OTCMKTS:BLTA) Recent Trading Information

BALTIA AIR LINES, INC. (OTCMKTS:BLTA) closed its last trading session up +0.00045 at 0.00785 with 55,147,002 shares trading hands.