FORM 5
[ ] CHECK BOX IF NO LONGER SUBJECT TO SECTION 16. FORM 4 OR FORM 5
OBLIGATIONS MAY CONTINUE. SEE INSTRUCTION 1(B).
[ ] Form 3 Holdings Reported
[x] Form 4 Transactions Reported
U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
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
1. Name and Address of Reporting Person*
INNELLA JAMES D.
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(Last) (First) (Middle)
6905 N.W. 25TH STREET
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(Street)
MIAMI FLORIDA 33122
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Aviation Sales Company (AVS)
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year December 31, 1998
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer (Check all applicable)
___ Director ___ 10% Owner
[X] Officer (give title below) ___ Other (specify below)
VP of Issuer and President of Aviation Sales Distribution Services Company,
a subsidiary of Issuer
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7. Individual or Joint/Group Filing
(Check applicable line)
X Form filed by One reporting person
___ Form filed by More than One reporting person
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TABLE I--NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
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<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
5. Amount of Securities 6. Ownership 7. Nature of
2. Transaction Beneficially Owned Form: Indirect
1. Title of Date 3. Transaction 4. Securities Acquired (A) at End of Issuer's Direct (D) or Beneficial
Security (Month/Day/Year) Code or Disposed of (D) Fiscal Year Indirect (I) Ownership
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Amount (A) or Price
(D)
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</TABLE>
<PAGE>
FORM 5 (CONTINUED)
<TABLE>
<CAPTION>
TABLE II--DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
<S> <C> <C> <C> <C>
5. Number of Derivative
1. Title of Derivative 2. Conversion or Exercise 3. Transaction Date 4. Transaction Securities Acquired (A)
Security Price of Derivative Security (Month/Day/Year) Code or Disposed of (D)
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(A) (D)
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STOCK OPTIONS $ 35.25 6/12/98 A 25,000
<CAPTION>
<S> <C> <C> <C> <C> <C>
10. Ownership of
7. Title and 9. Number of Derivative
6. Date Exercisable Amount of 8. Price of Derivative Securities Security:
1. Title of Derivative and Expiration Date Underlying Derivative Beneficially Owned at Direct (D) or
Security (Month/Day/Year) Securities Security End of Year Indirect (I)
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Date Expiration Amount
Exercisable Date Title of Shares
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STOCK OPTIONS (1) 6/11/03 COMMON STOCK 25,000 25,000 D
11. Nature of
Indirect
1. Title of Derivative Beneficial
Security Ownership
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STOCK OPTIONS
</TABLE>
Explanation of Responses:
(1) The option vests in three equal annual installments with the first
installment vesting on 6/12/98.
**Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. SEE 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
/s/ James D. Innella 2/3/99
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** Signature of Reporting Person Date
James D. Innella
