September 27, 2016 11:31 PM ET


Company Overview of TEM Enterprises, Inc.

Company Overview

TEM Enterprises, Inc., doing business as XTRA Airways, provides passenger air transportation services. It offers services in the Eastern, Central, and Western United States. The company was founded in 1991 and is based in Coral Gables, Florida. As of December 31, 2014, TEM Enterprises, Inc. operates as a subsidiary of AerSale Inc.

121 Alhambra Plaza

Suite 1700

Coral Gables, FL 33134

United States

Founded in 1991





Key Executives for TEM Enterprises, Inc.

Director of Operations
Chief Pilot
Compensation as of Fiscal Year 2016.

TEM Enterprises, Inc. Key Developments

Second Amended Reorganization Plan Approved for TEM Enterprises, Inc.

The US Bankruptcy Court approved the second amended plan of reorganization of TEM Enterprises, Inc. on October 10, 2014. The Court has also approved disclosure statement on final basis. As per the plan filed, administrative claims of $2.1 million, priority tax claims of $0.04 million, priority claims of $0.03 million and U.S. Trustee fees will be paid in full in cash. Allowed professional fee claims of $0.1 million will be paid in full in cash. Secured claim of AerLine will be paid in full either in cash, funded from new capital contribution or credit of all amounts outstanding under DIP facility towards the total amount due under the New Capital Contribution. Allowed general unsecured claims of $12.88 million will be paid through pro-rata share of the New Capital Contribution. Old equity interests will be cancelled. The plan will be funded by cash in hand of $0.62 million and new equity contribution of $3.5 million.

Second Amended Reorganization Plan Filed by TEM Enterprises, Inc.

TEM Enterprises, Inc. filed its second amended plan of reorganization in the US Bankruptcy Court on October 7, 2014. As per the second amended plan filed, the treatment of all the classes of claims remains the same.

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Recent Private Companies Transactions

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