Lone Star was founded in 1984 in Oklahoma as Exec Express Inc. The company moved its headquarters to Ft. Worth, TX in 1987. Exec Express Inc. operating as Exec Express Commuter Airlines later became Exec Express II Inc. and eventually operated under the dba's of Lone Star Airlines and Aspen Mountain Air. In order to have both names on the same ticket stock a third d/b/a was created "Aspen Mountain Air/Lone Star Airlines". The airline became an American Airlines and Frontier Airliines code sharing partner. the carrier's financial situation deteriorated until, on August 7, 1998 AMA filed for Chapter 11 bankruptcy protection. The airline was liquidated in October 1998.