TriStar Air LLC does seem to own the planes, but the question becomes, "Who owns TriStar Air LLC?" The "ultimate parent" would mean the entity that is the parent company of TriStar Air LLC. I have expected that the parent company of TriStar Air LLC was TMPS. But by this application, TriStar Air LLC does not name TMPS as its "ultimate parent". By naming itself, it appears to say it has no other entity as parent.
TriStar Air LLC may get defense contracts, but the relationship of TriStar Air LLC to TMPS is now more unclear to me than ever.
TMPS is a void Delaware corporation.
TMPS appears to have a suit against it from Corporate and Securities lawyers in New York in the U. S. District Court Eastern District of Virginia (including Newport News).
TMPS is undergoing deregistration due to non-reporting of financials to the SEC, and trading is temporarily suspended.
TMPS had created a mechanism for Johan Eliasch to take over TriStar Air LLC and its jets via a Note, but evidently hasn't publicly announced foreclosure against TMPS.
TMPS has not filed for bankruptcy protection from creditors. Since the corporation is void, creditors might be able to go after officers and owners, but I am not sure to what extent.
Always be on guard for misleading, deceptive or erroneous messages. I am not an investment professional. My messages are my opinion only, and are subject to change when contrary information is later relied upon. Always do your own research.
