BALTIA AIR LINES, INC. (OTCMKTS:BLTA) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement

On December 15, 2016, Baltia Air Lines, Inc., a New York corporation (the “Company” / “Lessee”), and KALITTA AIR LLC, a limited liability company (“Lessor”), entered into a legally binding letter of intent for the lease of one Boeing 767-300ER aircraft, serial number 26234, to be delivered on or before April 1, 2017 or as otherwise agreed, to Oscoda, Michigan, on terms to be determined following inspection of the aircraft by the Lessee and execution of an Aircraft Lease Agreement, for an initial term of 12 months, .

The Company has deposited $10,000 as a refundable deposit to secure this letter of intent. Both parties will bear their own costs related to the transaction, and have agreed to secure approval of their respective corporate bodies within 10 days of the execution of the Lease Agreement.

This Letter of intent has been signed by D.C. Sanderlin, Vice President and General Manager of the Lessor, and by Anthony D. Koulouris, President of the Company.

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 down -0.00020 at 0.00160 with 1,749,401 shares trading hands.