Every now and then a brand new company comes along that makes you sit up and take notice. This describes BLTA, which is being closely watched by those who invest in the stock market.

BLTA is the stock code for Baltia Airlines Inc., and if you haven't heard of it yet don't worry. This is because it is still a new company and tickets are not yet available to board any of its flights - that's how new it is. The tag line on the website is 'the new way to Europe', and there are several destinations including Minsk, St Petersburg and Kiev.

The website has a shareholder letter dated March 2009 and that states the service looks likely to start in the summer. But as of today the service has yet to start, although the first and only aircraft so far - a Boeing - has been purchased.

So what can we expect from the stock?

Well the current price is sitting at $0.08 a share, so this is certainly the perfect definition of a penny stock. But is it a hot one? The highs and lows of this particular company are indicated as being very different from this current level. The all time low was $0.02 a share while the high was $0.13. The previous day saw a closing rate slightly higher than the closing one for the week, at $0.09. So will we see more in the way of better or worse rates as time goes on?

A lot depends on how long it is until the service actually begins. Obviously it has taken longer to get going than the company hoped. This is also a very new airline start up and in the current financial climate it may not be the wisest time to start. We will have to wait and see whether the first plane taking off will signal the first proper take off of the stock price as well.

The beginning of November saw the lowest stock values so far though, so the company has certainly gone up in the world (in the stock market at least, if not in the air) since then. Anyone buying BLTA stock back in November could have sold for a nice profit over the last few days.

If you are thinking of buying BLTA this could be a good time to do it. Once the airline really does take off for the first time, the stock could follow it in heading up.