FIELDS AIRCRAFT SPARES INC
3/A, 1998-10-22
AIRCRAFT & PARTS
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 FORM 3                                            
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                    U.S. SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, DC 20549

            INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

    Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
                                 Section 17(a)
      of the Public Utility Holding Company Act of 1935 or Section 30(f)
                     of the Investment Company Act of 1940

<TABLE>
<S>                                        <C>                           <C>                                 <C>                 
(Print or Type Response) 
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 1. Name and Address of Reporting Person*  2. Date of Event Requiring    4. Issuer Name and Ticker or        6. If Amendment, Date 
  O'Hara,        Neil           E.            Statement                     Trading Symbol                      of Original
- ------------------------------------------      (Month/Day/Year)         Fields Aircraft Spares, Inc. (FASI)   (Month/Day/Year)
     (Last)     (First)     (Middle)             12/29/95                ----------------------------------         01/04/96
  341 "A" Street                           ----------------------------  5. Relationship of Reporting        -----------------------
- ------------------------------------------   3. IRS Identification            Person to Issuer               7. Individual or Joint/
             (Street)                         Number of Reporting           (Check all applicable)              Group Filing (Check
  Fillmore           CA      93015-1931       Person, if an Entity             Director        10% Owner         applicable line)
- ------------------------------------------      (Voluntary)               ----            ----               X  Form filed by
      (City)      (State)      (Zip)       ----------------------------    X  Officer         Other         --- One Reporting
                                                                          ----(give title ----(specify          Person
                                                                               below)          below)           Form filed by
                                                                          Vice President                    --- More than One
                                                                                                                Reporting Person

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                                                            TABLE 1 -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED      
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 1. Title of Security                         2. Amount of Securities         3. Ownership Form:         4. Nature of Indirect     
    (Instr. 4)                                   Beneficially Owned              Direct (D) or              Beneficial    
                                                 (Instr. 4)                      Indirect (I)               Ownership (Instr. 5)
                                                                                 (Instr. 5)                 
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Common Shares                                          8,001                           D
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.                   (Over)

*If the form is filed by more than one reporting person, see Instruction 5(b)(v).
</TABLE>
                                       
<PAGE>   
 
<TABLE>
<CAPTION>
 
FORM 3 (CONTINUED)               TABLE II -- DERIVATIVE SECURITIES BENEFICIALLY OWNED
                            (E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
 
<S>                              <C>                <C>                            <C>           <C>         <C>        
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1. Title of Derivative Security  2. Date            3. Title and Amount of         4. Conver-    5. Owner-   6. Nature of Indirect
   (Instr. 4)                       Exercisable and    Securities Underlying          sion or       ship        Beneficial Ownership
                                    Expiration Date    Derivative Security            Exercise      Form of     (Instr. 5)          
                                    (Month/Day/        (Instr. 4)                     Price of      Deriv-                         
                                    Year)                                             Deri-         ative                          
                                                                                      vative        Security:                      
                                                                                      Security      Direct                         
                                 -------------------------------------------------                  (D) or                         
                                 Date      Expira-                       Amount or                  Indirect (I)  
                                 Exercis-  tion             Title        Number                     (Instr. 5)             
                                 able      Date                          of Shares                                                 
                                                                                                                                   
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Options to Acquire Common Shares   *      11/01/*      Common Shares       7,125       $3.00           D
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Explanation of Responses:

* Subject to vesting requirements based on company's performance. 

                                                                                      /s/ Neil E. O'Hara                 10/14/98 
**Intentional misstatements or omissions of facts constitute Federal Criminal        -------------------------------   -------------
  Violations.  See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).                             **Signature of Reporting Person        Date

Note. File three copies of this Form, one of which must be manually signed.                                           Page 2     
  If space provided is insufficient, See Instruction 6 for procedure. 

Potential persons who are to respond to the collection of information  contained
in this form are not  required to respond  unless the form  displays a currently
valid OMB Number.
                                                                
                                                                                                                                 
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