Tempus Applied Solutions (TAS) has announced that the company has finalized the acquisition of six Lockheed L-1011s formerly owned and operated by the Royal Air Force (RAF) of the United Kingdom, the company said.
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.
The aircraft acquisition was completed utilizing TMPS common shares. 6,730,769 common shares were issued to the Seller at a value of USD 0.52 per share as payment for the aircraft. Additionally, TMPS has agreed to either pay USD 150K in cash or to issue to the Seller approximately 833,000 common shares at a value of USD 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
Tempus provides design, engineering, systems integration and flight operations solutions that support critical aviation mission requirements for a variety of customers including the United States Department of Defense, other US government agencies, foreign governments and select corporations and individuals in the private sector.