UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM 10-Q

Mark One
[ X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly Period ended March 31, 2014
[   ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

BALTIA AIR LINES, INC.

(Exact name of Registrant as specified in its charter)

NEW YORK
(State of Incorporation) 		11-2989648
(IRS Employer Identification No.)
JFK International Airport,
Building 151, Jamaica, NY 11430
(Address of principal executive offices)

(718) 244 8880
(Registrant's telephone number, including area code)
Title of each class
-None- 		Name of each Exchange on which registered
-None-
Securities Registered pursuant to Section 12(g) of the Exchange Act:
Common Stock,
(Title of Class) 		$.0001 Par Value
Indicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes [  ] - - No [X]
Indicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes [   ] - - No [X]
Indicate by check mark whether the Registrant (1) has filed all reports to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. Yes [X] - - No [  ]
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of the registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. Yes [X] - - No [  ]
Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filer [   ]
Non-accelerated filer [   ] 		Accelerated filer [  ]
Smaller reporting company  [X]
Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act of 1934).  Yes [ ]   No [X]
  The number of shares of the registrant's common stock outstanding as of May 02, 2014 was 3,863,276,232

INDEX

Part I - Financial Information Page
Item 1 –Financial Statements: 3
Balance Sheet – March 31, 2014 (Unaudited) and December 31, 2013 (Audited) 3
Statement of Operations – Three Months Ended March 31, 2014 and 2013 (Unaudited) 4
Statement of Changes in Stockholders' Equity 5
Statement of Cash Flows – Three Months Ended March 31, 2014 and 2013 (Unaudited) 6
Notes to Unaudited Interim Financial Statements 7 - 8
Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations 8
Item 3 – Quantitative and Qualitative Disclosures about Market Risk 14
Item 4T – Controls and Procedures 14
Part II - Other Information 15
Item 1 – Legal Proceedings 15
Item 2 - Unregistered Sales of Equity Securities and Use of Proceeds 15
Item 3 Default Upon Senior Securities. 15
Item 4 - Mine Safety Disclosures. 15
Item 5 – Other Information 15
Item 6 – Exhibits Signatures and Certifications 15-17
Exhibit 101 – XBRL Files

Part I - Financial Information

Item 1 –Financial Statements:
Part 1 - Financial Statements
 
Item 1 - Financial Statements
 
Baltia Air Lines, Inc.
BALANCE SHEETS
(A Development Stage Company)
 
   
March 31,
2014
   
December 31,
2013 		 
    (Unadudited)      (Audited)  
ASSETS
             
Current assets
           
             
Cash
  $ 529,944     $ 11,549  
Total current assets
    529,944       11,549  
                 
Property and equipment, net
    1,818,272       1,794,486  
                 
Other assets:
               
                 
Security deposit and other
    317,293       317,293  
Total assets
  $ 2,665,509     $ 2,123,328  
                 
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
                 
Current liabilities
               
                 
Accounts payable and accrued expenses
  $ 934,193     $ 621,208  
Accrued interest
    345,000       319,125  
Deposits on common stock purchases
    836,000       -  
Total current liabilities
    2,115,193       940,333  
                 
Noncurrent liabilities
               
                 
Long-term debt, net of discount
    1,150,000       1,150,000  
Long-term accounts payables and accrued expenses
    335,523       335,523  
Total noncurrent liabilities
    1,485,523       1,485,523  
Total liabilities
    3,600,716       2,425,856  
                 
Stockholders' equity (deficit)
               
                 
Preferred stock, $0.01 par value; 2,000,000 shares
               
authorized, 66,500 issued and outstanding
    665       665  
Common stock, $.0001 par value; 3,986,000,000 shares
               
authorized, 3,599,981,650 and 3,296,126,988 issued AND
               
outstanding at March 31, 2014 and December 31, 2013, respectively
    359,998       329,612  
Additional paid-in capital
    96,533,843       94,507,702  
Deficit accumulated during development stage
    (97,829,713 )     (95,140,507 )
Total stockholders' equity (deficit)
    (935,207 )     (302,528 )
Total liabilities and stockholders' equity (deficit)
  $ 2,665,509     $ 2,123,328