"(c) registered in a third country" and "used into, within or out of the Community by an operator established or residing in the Community"
my bold.
I've said this before, but I'll say it again - IMHO the whole thing hinges on the definition of
operator. I cannot see, how a trust based in the US can be considered to be "established or residing in the Community', much less so a company leasing biz jets.
Disclaimer: I am not a lawyer.