EXHIBIT 99.2
AVIATION SALES COMPANY
[GRAPHIC OMITTED]
Release: December 5, 2000
Contact: Dale S. Baker, Chairman/Chief Executive Officer - (954) 538-2000
Michael C. Brant, Chief Financial Officer - (954) 538-2000
Morgen-Walke Associates, Gordon McCoun - (212) 850-5600
AVIATION SALES COMPANY AGREES TO ALLOW LACY J. HARBER TO
ACQUIRE UP TO 30% OF THE COMPANY'S COMMON STOCK
Miramar, Florida, December 5, 2000 - Aviation Sales Company (NYSE:AVS)
today announced that it has agreed to allow current 23% stockholder, LJH
Corporation ("LJH"), which is wholly-owned by Lacy J. Harber of Dennison, Texas,
to increase its stake in the Company to up to 30% of the Company's outstanding
common stock. The agreement between LJH and the Company which was entered into
in March 2000, which restricts certain of Mr. Harber's activities with respect
to the Company's common stock without approval of a majority of the Company's
disinterested Board members, remains in effect.
The Company's Rights Agreement, dated as of November 1, 1999, relating to
the Company's Stockholders' Rights Plan, has also been amended consistent with
the terms of the agreement. Purchases of the Company's common stock by Mr.
Harber and LJH within the terms of the amendment will not trigger the exercise
of any rights under the Rights Agreement and no rights will be distributed in
connection therewith.
Aviation Sales Company is a leading independent provider of fully
integrated aviation maintenance, repair and overhaul services, including
aircraft heavy maintenance, component repair and overhaul and leasing, for major
commercial airlines and maintenance and repair facilities.
This press release contains certain forward-looking statements that are
made pursuant to the safe harbor provisions of the Private Securities Reform Act
of 1995. Forward-looking statements involve known and unknown risks and
uncertainties, which may cause the Company's actual results in future periods to
differ materially from forecasted results. A number of factors, including those
identified below, could adversely affect the Company's ability to obtain these
results: available capital to continue to support and further expand the
Company's operations, the Company's ability to acquire adequate inventory and to
obtain
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AVIATION SALES COMPANY AGREES TO ALLOW LACY J. HARBER PAGE 2
TO ACQUIRE UP TO 30% OF THE COMPANY'S COMMON STOCK
favorable pricing for such inventory, competitive pricing for the Company's
products and services, increased competition in the aircraft spare parts
redistribution and MR&O markets, the ability to consummate suitable
acquisitions, the continuing ability to effectively integrate acquisitions,
economic factors which affect the airline industry, and changes in government
regulations. Certain of these risks are described in the Company's filings with
the Securities and Exchange Commission (SEC). Copies of the Company's SEC
filings are available from the SEC or may be obtained upon request from the
Company. The Company does not undertake any obligation to update the information
contained herein, which speaks only as of this date.
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