Tempus Applied Solutions (TAS) announced that the company has finalized the acquisition of six Lockheed Tristar L-1011 aircraft formerly owned and operated by the UK Royal Air Force (RAF).
Four of these aircraft are specifically configured for air-to-air refueling (AAR) operations and the remaining two are configured for passenger and cargo operations only. The aircraft previously served the RAF and NATO.
Company CEO Scott Terry stated, “We are delighted that the aircraft inspections and records reviews were consistent with our expectations thus allowing us to complete this very important transaction. We can now focus our attention on military customers in the USA and NATO that have urgent requirements for air-to-air refueling services.” Terry added, “Now that the deal is closed, our potential customers can better understand our commitment to the aerial refueling mission.”
The aircraft acquisition was completed utilizing TMPS common shares. 6,730,769 common shares were issued to the Seller at a value of $0.52 per share as payment for the aircraft. Additionally, TMPS has agreed to either pay $150K in cash or to issue to the Seller approximately 833,000 common shares at a value of $0.18 per share to compensate the Seller for maintenance and storage costs incurred for keeping the aircraft in the condition required by the aircraft purchase agreement.
Lockheed TriStar was an air-to-air tanker and military transport aircraft in service with the Royal Air Force (RAF).
All were converted civilian Lockheed L-1011-500 TriStar airliners—previously operated by British Airways and Pan American World Airways—and entered service with the RAF in 1984.
The converted aircraft were purchased following the Falklands War, after a requirement for additional air-to-air refuelling operations had been identified. Of the nine in service, two were tankers (K1) with passenger space and also limited space for cargo loaded aft of the main deck; three were solely transport aircraft (C2); and the remaining four (KC1) could be used for either of the two roles.
The TriStars formed the air-to-air refuelling fleet of the RAF until replaced by the Airbus A330 MRTT (Multi Role Tanker Transport) under the Future Strategic Tanker Aircraft (FSTA) programme.
The TriStar fleet was operated by No. 216 Squadron of RAF Brize Norton in Oxfordshire. 216 Squadron was officially disbanded on 20 March 2014 and flew its last sorties with the TriStar on 24 March 2014.