Companies · Airlines and Airports

Baltia Air Lines Inc

NEW YORK · Airlines and Airports

Diligence memoA one-page analyst read on Baltia Air Lines Inc — recommendation, valuation, rhythm, risks.
$3.9M
Total raised · real
3
Rounds
0.7×
Latest step-up
Top 55%
Sector rank · raised
Series A
Latest stage · inferred · Thu Mar 09 2017 00:00:00 GMT+0000 (Coordinated Universal Time)

Baltia Air Lines Inc looks under-valued against its niche peers and is dormant on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the airlines sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Under-valued
  • Modeled value is 0.06× the median modeled value of Series A Airlines and Airports companies in 2016–2018 (6 peers) — value vs value, same stage and era.
Dormant
  • Last raise 9.3 yr ago; this sector typically re-raises about every 9 months.
  • Silent for over 3× the sector's normal cadence.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Airlines and Airports

Baltia Air Lines Inc is one of 76 Airlines and Airports companies tracked from NEW YORK. By capital raised it ranks mid-pack (ahead of 46% of sector peers), and in the long tail by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
No revenue
Issuer revenue
Rule 506(b)
Reg D exemption
2
Investors (latest)
2017-03-09
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$25M$50M$75M$100MSeed · 2013-07-01 Raised $3.0M (real) Modeled valuation $19M (est)$3.0M$19MSeed2013Series A · 2015-07-01 Raised $10M (real) Modeled valuation $51M (est)$10M$51MSeries A2015Series A · 2015-10-20 Raised $531K (real) Modeled valuation $2.7M (est)$531K$2.7MSeries A2015Series A · 2017-03-09 Raised $350K (real) Modeled valuation $1.8M (est)$350K$1.8MSeries A2017+$10M+$531K+$350KCumulative $14M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Seed$3.0M · 2013
Series A$10.0M · 2015
Series A extension$531K · 2015
Series A extension$350K · 2017

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 67%.

Modeled valuation trajectory
$1.8M
Base estimate est.
$430K
Conservative case
$9.8M
Upside case
$1.6M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Aa $4.0M–$15M round). Valuation is modeled from stage benchmarks scaled by the airlines sector profile. Directional, not a quoted figure.

Seed · modeled $18.9M · 2013-07-012013Series A · modeled $51.4M · 2015-07-01Series A · modeled $2.7M · 2015-10-20Series A · modeled $1.8M · 2017-03-092017
Model inputs · modeled:benchmark-stage-stepup-v1
22%
Dilution assumption
Implied ownership sold in the financing.
50%
Survival probability
27% low · 68% high
1.15×/yr
Annual markup
1.45×/yr upside case
6.0 yr
Elapsed time used
9.3 yr actual, capped for stale marks
airlines
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
15 mo
Avg between rounds
$1.1M/yr
Capital velocity
13.0 yr
On record since
2013
First round
4
Rounds on file
How it compares to the market

Benchmarked against 76 companies in Airlines and Airports. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 0.9× of median
This company$3.9M
Sector median$4.4M
Latest round — vs other Series A rounds in sector (real $, this stage) 0.1× of median
This company$350K
Sector median$5.8M
Modeled value — vs sector median (estimate, all stages) 0.1× of median
This company$1.8M
Sector median$12.6M

Raised more than 46% of sector peers (real $). Modeled value above 13% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series A) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #6 of 6.

This companyCohort peer
$1.0M$10.0M$100.0M$1.0M$10.0M$100.0MCapital raised (log)Allure Airways Inc. · Series A Raised $11.0M · modeled $56.5M (est)Hawaii Island Air, Inc. · Series A Raised $10.0M · modeled $51.6M (est)Paul Joseph Posti Jr · Series A Raised $8.0M · modeled $41.1M (est)Cal Jet Air LLC · Series A Raised $4.5M · modeled $23.1M (est)One Jet, Inc. · Series A Raised $9.9M · modeled $20.5M (est)Baltia Air Lines Inc (this company) Raised $3.9M · modeled $1.8M (est)Baltia Air Lines Inc
CompanyStageRaised · realValue · estvs peer med.
Allure Airways Inc.Series A$11.0M$56.5M1.76×
Hawaii Island Air, Inc.Series A$10.0M$51.6M1.61×
Paul Joseph Posti JrSeries A$8.0M$41.1M1.28×
Cal Jet Air LLCSeries A$4.5M$23.1M0.72×
One Jet, Inc.Series A$9.9M$20.5M0.64×
Baltia Air Lines Inc this companySeries A$3.9M$1.8M0.06×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Seed$3.0M2013-07-01$15.0M$18.9M85%
Series A$10.0M2015-07-01$45.5M$51.4M85%
Series A$531K2015-10-20$2.4M$2.7M85%
Series A$350K2017-03-09$1.6M$1.8M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Seed$3.0M2013-07-01
    • First recorded raise — entered as Seed.
  2. Series A$10.0M2015-07-01
    • Raised again after 24 mo — slower than the ~9 mo sector norm.
    • Round 3.3× larger than the prior — scaling up.
    • Switched to Rule 506(c) (was Rule 06).
  3. Series A$531K2015-10-20
    • Came back fast: 4 mo vs the ~9 mo sector norm.
    • Round 18.8× smaller than the prior — bridge or down round.
    • 7 investors on this round.
  4. Series A$350K2017-03-09
    • Raised again after 17 mo — slower than the ~9 mo sector norm.
    • Round 1.5× smaller than the prior — bridge or down round.
    • Switched to Rule 506(b) (was Rule 506(c)).
    • 2 investors on this round.
Intelligence
2018 ~Q2
Modeled next raise · ~15mo cadence
$350K
Modeled next size est.range $350K$560K
0.7×
Last step-up
$1.1M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Andris RUKMANIS2013-07
Anthony D KOULOURIS2015-10
Barry CLARE2013-07
Frank D ACQUAVELLA2015-10
Igor DMITROWSKY2013-07
Rusell THAL2015-07
Russell THAL2013-07
Vick Luis BOLANOS2013-07
Walter KAPLINSKY2013-07
Walter Luis KAPLINSKY2015-07
Registry & provenance

Baltia Air Lines Inc is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
869187
SEC CIK
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
Cal Jet Air LLCAirlines and AirportsSeries A$4.5M$23.1Msame sector · same stage
G150-223 LlcAirlines and AirportsSeries A$4.6M$16.8Msame sector · same stage
Aerodrome Development CorpAirlines and AirportsSeries A$5.0M$25.7Msame sector · same stage
Branson Funding, LLCAirlines and AirportsSeries A$5.0M$25.7Msame sector · same stage
Exec Air Inc of NaplesAirlines and AirportsSeries A$5.0M$11.3Msame sector · same stage
Sky Care Holdings LLCAirlines and AirportsSeries A$5.0M$15.5Msame sector · same stage
People Express Airlines Inc.Airlines and AirportsSeries A$5.3M$2.0Msame sector · same stage
Texas Air Shuttle, LLCAirlines and AirportsSeries A$6.8M$11.4Msame sector · same stage
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
Cargojet Inc.Airlines and AirportsSeed$15.8M83%
Breeze Aviation Group, Inc.Airlines and AirportsSeries D+$123.1M83%
Aerodrome Development CorpAirlines and AirportsSeries A$25.7M83%
AeroVanti, Inc.Airlines and AirportsSeed$15.1M82%
Canada Jetlines Operations LtdAirlines and AirportsPre-Seed$620K81%
Global Crossing Airlines Group Inc.Airlines and AirportsSeries A$23.3M81%
Solairus Ultimate Holdings, LlcAirlines and AirportsSeries B$158.1M81%
Emerald Corporate Jets, Inc.Airlines and AirportsPre-Seed$1.6M80%
Frequently asked
How much funding has Baltia Air Lines Inc raised?
Baltia Air Lines Inc has raised approximately $3.9M in disclosed capital across 3 recorded financing rounds, aggregated from public filings.
What is Baltia Air Lines Inc's estimated valuation?
Provath's modeled valuation for Baltia Air Lines Inc is approximately $1.8M (modeled range $430K–$9.8M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Baltia Air Lines Inc at?
Baltia Air Lines Inc's latest modeled financing stage is Series A. Its most recent recorded round closed around Thu Mar 09.
What does Baltia Air Lines Inc do and where is it based?
Baltia Air Lines Inc operates in the Airlines and Airports sector, based in NEW YORK.
Explore related

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