<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
AVIATION SALES COMPANY
- - --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $.001 par value
- - --------------------------------------------------------------------------------
(Title of Class of Securities)
053672 10 1
- - --------------------------------------------------------------------------------
(CUSIP Number)
John A. Maraia
Corporate Counsel
Legal Department
Tomen America Inc.
1285 Avenue of The Americas
New York, New York 10019
(212) 397-5734
- - --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
July 25, 1996
- - --------------------------------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box |_|.
Check the following box if a fee is being paid with the statement |_|. (A fee is
not required only if the reporting person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of this class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
Note: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-1(a) for other parties to whom copies are to be
sent.
(Continued on following pages)
- - --------
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
<PAGE>
- - ------------------ ------------------
CUSIP NO. SCHEDULE
053672 10 1 13D
- - ------------------ ------------------
- - --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON J/T Aviation Partners
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
- - --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A)|_|
(B)|_|
- - --------------------------------------------------------------------------------
3. SEC USE ONLY
- - --------------------------------------------------------------------------------
4. SOURCE OF FUNDS WC
- - --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS |_|
REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
- - --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
- - --------------------------------------------------------------------------------
NUMBER OF SHARES 7. SOLE VOTING POWER 1,501,000
See Item 5.
BENEFICIALLY OWNED ------------------------------------------------------------
8. SHARED VOTING POWER 0
BY EACH REPORTING
------------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER 1,501,000
See Item 5.
------------------------------------------------------------
10. SHARED DISPOSITIVE POWER 0
- - --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,501,000
- - --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- - --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 18.2%
- - --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN
- - --------------------------------------------------------------------------------
<PAGE>
- - ------------------ ------------------
CUSIP NO. SCHEDULE
053672 10 1 13D
- - ------------------ ------------------
- - --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON TM Aviation (USA) Inc.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
- - -------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A)|_|
(B)|_|
- - -------------------------------------------------------------------------------
3. SEC USE ONLY
- - -------------------------------------------------------------------------------
4. SOURCE OF FUNDS WC
- - -------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS |_|
REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
- - -------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
- - -------------------------------------------------------------------------------
NUMBER OF SHARES 7. SOLE VOTING POWER 0
BENEFICIALLY OWNED -----------------------------------------------------------
8. SHARED VOTING POWER 1,501,000
BY EACH REPORTING See Item 5.
PERSON WITH -----------------------------------------------------------
9. SOLE DISPOSITIVE POWER 0
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 1,501,000
See Item 5.
- - -------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,501,000
- - -------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- - -------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 18.2%
- - -------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON CO
- - -------------------------------------------------------------------------------
<PAGE>
- - ------------------ ------------------
CUSIP NO. SCHEDULE
053672 10 1 13D
- - ------------------ ------------------
- - -------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON TM Aviation (Japan) Inc.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
- - --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A)|_|
(B)|_|
- - --------------------------------------------------------------------------------
3. SEC USE ONLY
- - --------------------------------------------------------------------------------
4. SOURCE OF FUNDS WC
- - --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS |_|
REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
- - --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
- - --------------------------------------------------------------------------------
NUMBER OF SHARES 7. SOLE VOTING POWER 0
BENEFICIALLY OWNED -----------------------------------------------------------
8. SHARED VOTING POWER 1,501,000
BY EACH REPORTING See Item 5.
PERSON WITH -----------------------------------------------------------
9. SOLE DISPOSITIVE POWER 0
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 1,501,000
See Item 5.
- - --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,501,000
- - --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- - --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 18.2%
- - --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON CO
- - --------------------------------------------------------------------------------
<PAGE>
- - --------------------- ----------------
CUSIP NO. SCHEDULE
053672 10 1 13D
- - --------------------- ----------------
- - ----------------------------------------------------------------------------
1. NAME OF REPORTING PERSON Tomen Corporation
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
- - ----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A)|_|
(B)|_|
- - ----------------------------------------------------------------------------
3. SEC USE ONLY
- - ----------------------------------------------------------------------------
4. SOURCE OF FUNDS WC
- - ----------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS |_|
REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
- - ----------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Japan
- - ----------------------------------------------------------------------------
NUMBER OF SHARES 7. SOLE VOTING POWER 0
BENEFICIALLY OWNED --------------------------------------------------------
8. SHARED VOTING POWER 1,511,000
BY EACH REPORTING See Item 5.
PERSON WITH --------------------------------------------------------
9. SOLE DISPOSITIVE POWER 0
--------------------------------------------------------
10. SHARED DISPOSITIVE POWER 1,511,000
See Item 5.
- - --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,511,000
- - -------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- - -------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 18.3%
- - -------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON CO
- - -------------------------------------------------------------------------------
<PAGE>
- - --------------------- ----------------
CUSIP NO. SCHEDULE
053672 10 1 13D
- - --------------------- ----------------
- - --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON Japan Fleet Service (Delaware) Inc.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
- - --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A)|_|
(B)|_|
- - --------------------------------------------------------------------------------
3. SEC USE ONLY
- - --------------------------------------------------------------------------------
4. SOURCE OF FUNDS WC
- - --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS |_|
REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
- - --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
- - --------------------------------------------------------------------------------
NUMBER OF SHARES 7. SOLE VOTING 0
BENEFICIALLY OWNED -----------------------------------------------------------
8. SHARED VOTING POWER 1,501,000
BY EACH REPORTING See Item 5.
PERSON WITH -----------------------------------------------------------
9. SOLE DISPOSITIVE POWER 0
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 1,501,000
See Item 5.
- - --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,501,000
- - --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES
|_|
- - --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 18.2%
- - --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON CO
- - --------------------------------------------------------------------------------
<PAGE>
- - --------------------- ----------------
CUSIP NO. SCHEDULE
053672 10 1 13D
- - --------------------- ----------------
- - --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON Japan Fleet Service
(Singapore) Pte. Ltd.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
- - -----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A)|_|
(B)|_|
- - -----------------------------------------------------------------------------
3. SEC USE ONLY
- - -----------------------------------------------------------------------------
4. SOURCE OF FUNDS WC
- - -----------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS |_|
REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
- - -----------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Singapore
- - -----------------------------------------------------------------------------
NUMBER OF SHARES 7. SOLE VOTING POWER 0
BENEFICIALLY OWNED ---------------------------------------------------------
8. SHARED VOTING POWER 1,511,000
BY EACH REPORTING See Item 5.
PERSON WITH ---------------------------------------------------------
9. SOLE DISPOSITIVE POWER 0
---------------------------------------------------------
10. SHARED DISPOSITIVE POWER 1,511,000
See Item 5.
- - -------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,511,000
- - -------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES
|_|
- - -------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 18.3%
- - -------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON CO
- - -------------------------------------------------------------------------------
<PAGE>
- - --------------------- ----------------
CUSIP NO. SCHEDULE
053672 10 1 13D
- - --------------------- ----------------
- - --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON Japan Fleet Service
(Europe) B.V.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
- - --------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A)|_|
(B)|_|
- - --------------------------------------------------------------------------
3. SEC USE ONLY
- - --------------------------------------------------------------------------
4. SOURCE OF FUNDS WC
- - --------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS |_|
REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
- - --------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Netherlands
- - --------------------------------------------------------------------------
NUMBER OF SHARES 7. SOLE VOTING POWER 0
BENEFICIALLY OWNED
------------------------------------------------------------
BY EACH REPORTING 8. SHARED VOTING POWER 1,501,000
See Item 5.
PERSON WITH
------------------------------------------------------------
9. SOLE DISPOSITIVE POWER 0
------------------------------------------------------------
10. SHARED DISPOSITIVE POWER 1,501,000
See Item 5.
- - --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,501,000
- - --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- - --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 18.2%
- - --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON CO
- - --------------------------------------------------------------------------------
<PAGE>
J/T Aviation Partners, TM Aviation (Japan) Inc., TM Aviation (USA)
Inc., Japan Fleet Service (Delaware) Inc., Japan Fleet Service (Europe) B.V.,
Tomen Corporation and Japan Fleet Service (Singapore) Pte. Ltd. hereby amend and
restate in its entirety the single joint statement on Schedule 13D filed with
the Securities and Exchange Commission (the "SEC") on July 3, 1996, with respect
to the shares of Common Stock of Aviation Sales Company as follows:
Item 1. Security and Issuer
This Statement relates to the Common Stock, $.001 par value (the
"Shares"), of Aviation Sales Company, a corporation organized and existing under
the laws of the State of Delaware (the "Company"). The address of the principal
executive office of the Company is 6905 N.W. 25th Street, Miami, Florida
33131-1704.
Item 2. Identity and Background
(a, b, c and f) This Statement is being filed by (i) J/T Aviation
Partners, a Delaware general partnership ("J/T"), the principal business of
which is to hold an investment in the Company, (ii) TM Aviation (Japan) Inc., a
Delaware corporation ("TM Japan"), the principal business of which is to act as
a general partner of J/T, (iii) TM Aviation (USA) Inc., a Delaware corporation
("TM USA"), the principal business of which is to act as a general partner of
J/T, (iv) Japan Fleet Service (Delaware) Inc., a Delaware corporation ("JFS
Delaware"), the principal business of which is to act as a general partner of
J/T, (v) Japan Fleet Service (Europe) B.V., a Netherlands corporation ("JFS
Europe"), the principal business of which is aircraft spare parts leasing and to
hold the capital stock of JFS Delaware, (vi) Tomen Corporation, a corporation
organized under the laws of Japan ("Tomen"), the principal business of which is
a general trading company (sogo shosha) involved in domestic and foreign trading
of a wide range of products, including foodstuffs, apparel, housing, industrial
plant, tankers, aircraft and minerals and (vii) Japan Fleet Service (Singapore)
Pte. Ltd., a Singapore corporation ("JFS Singapore"), the principal business of
which is aircraft and aircraft spare parts leasing and general traders of
aviation products and services. The principal office of each of J/T, TM Japan
and TM USA is c/o Tomen America Inc., 1285 Avenue of the Americas, New York, New
York 10019. The principal office of Tomen is 14-27, Akasaka 2-Chome, Minato-Ku,
Tokyo, Japan. The principal office of each of JFS Delaware, JFS Europe and JFS
Singapore is c/o Japan Fleet Service (Singapore) Pte. Ltd., 10 Shenton Way No.
17-06/09, MAS (Monetary Authority of Singapore) Building, Singapore 0207. TM
Japan, TM USA and JFS Delaware each own, respectively, a 35%, 15% and 50%
general partner interest in J/T. TM Japan and TM USA are wholly-owned
subsidiaries of Tomen. JFS Delaware is a wholly-owned subsidiary of JFS Europe
and JFS Singapore owns 60% of the capital stock of JFS Europe. Exhibit 1 hereto
sets forth the name, principal business, address and citizenship of each of the
executive officers and directors of TM Japan, TM USA, Tomen, JFS Delaware, JFS
Europe and JFS Singapore, and is incorporated herein by reference. J/T, TM
Japan, TM USA, Tomen, JFS Delaware, JFS Europe and JFS Singapore are referred to
herein individually as a "Reporting Person" and collectively as the "Reporting
Persons."
(d and e) During the last five years, none of J/T, TM Japan, TM USA,
Tomen, JFS Delaware, JFS Europe or JFS Singapore or any of the persons listed on
Exhibit 1 has been (i) convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors); or (ii) was a party to a civil proceeding
of a judicial or administrative body of competent jurisdiction and as a result
of such proceeding was or is subject to a judgment, decree or final order
enjoining future violations of, or prohibiting or mandating activities subject
to, federal or state securities law or finding any violation with respect to
such laws.
Item 3. Source and Amount of Funds or Other Consideration
<PAGE>
On February 14, 1992, TM Japan, TM USA and JFS Delaware entered into
the J/T Aviation Partners general partnership agreement for the purpose of
acquiring a partnership interest in AJT Capital Partners, a Delaware general
partnership ("AJT"). TM Japan contributed $1,400,000 for a 35% general
partnership interest, TM USA contributed $600,000 for a 15% general partnership
interest and JFS Delaware contributed $2,000,000 for a 50% general partnership
interest.
AJT was formed in February 1992. J/T contributed $3,840,000 for a 48%
general partnership interest. On February 28, 1992, AJT acquired the majority of
the aircraft spare parts inventory of Eastern Airlines, Inc. from the Trustee of
the Estate of Eastern Air Lines, Inc. for a purchase price of $64,500,000.
On December 2, 1994, AJT contributed net assets in the amount of
$3,729,977 to ASC Acquisition Partners, L.P., a Delaware limited partnership
("ASC Partners") in return for a 20% limited partnership interest. By virtue of
its 48% general partnership interest in AJT, J/T has a 9.6% limited partnership
interest in ASC Partners. In addition, on December 2, 1994, J/T contributed
$36,048 to Aviation Sales Management Company, a Delaware corporation ("ASMC") in
exchange for 360 shares of common stock, $100 par value per share of ASMC which
represented a 48% interest in ASMC. ASMC contributed $75,000 to ASC Partners for
a 2% general partnership interest. Additionally, J/T contributed $1,404,000 to
ASC Partners in exchange for a 37.44% limited partnership interest in ASC
Partners. J/T also contributed $480 to each of Aviation Properties, a Delaware
general partnership and Aviation Properties of Texas, a Delaware general
partnership in exchange for a 48% general partnership interest in both
partnerships.
On January 1, 1996, J/T sold a portion of its limited partnership
interest in ASC Partners in the amount of 6.48% to 5 senior members of
management of ASC Partners pursuant to options held by such members of
management. In return, J/T Partners received promissory notes in the aggregate
principal amount of $689,773.
On June 26, 1996, the limited partners of ASC Partners contributed
their limited partnership interests to the Company pursuant to an Exchange
Agreement by and among the Company and the limited partners of ASC Partners (the
"Exchange Agreement"). J/T received 973,000 shares of Common Stock plus
$8,835,000 for their 30.96% limited partnership interest in ASC Partners.
Additionally, AJT as a limited partner of ASC Partners with a 20% interest
received 1,000,000 shares of Common Stock of the Company pursuant to the
Exchange Agreement. In addition, on June 26, 1996, AJT was dissolved pursuant to
an Agreement to Dissolve by and between J/T and RCP Management L.P., a Texas
limited partnership and a 52% general partner of AJT. Pursuant to the Amended
and Restated Partnership Agreement of AJT dated November 30, 1994, J/T as a 48%
general partner received 480,000 shares of Common Stock of the Company.
Pursuant to a Merger Agreement dated June 26, 1996, by and among
Aviation Sales Management Company, a Delaware corporation ("ASMC"), the Company
and Aviation Sales Operating Company, a Delaware corporation, ASMC was merged
into Aviation Sales Operating Company with each holder of shares of common stock
of ASMC receiving 133 1/3 shares of Common Stock of the Company for one share of
common stock of ASMC. J/T as a holder of 360 shares of ASMC received 48,000
shares of Common Stock of the Company.
On July 25, 1996 the underwriters of the Company's initial public
offering exercised their over-allotment option and pursuant to such option,
75,000 shares of Common Stock of the Company issuable to J/T were sold by the
Company.
Item 4. Purpose of Transaction
J/T, TM Japan, TM USA, Tomen, JFS Delaware, JFS Europe and JFS
Singapore currently intend to hold the Company's Shares for investment purposes.
Neither J/T, TM Japan, TM USA, Tomen, JFS Delaware, JFS Europe nor JFS Singapore
has any current intention to purchase additional Shares.
<PAGE>
Other than as discussed herein, neither J/T, TM Japan, TM USA, Tomen,
JFS Delaware, JFS Europe nor JFS Singapore has any plans or proposals which
relate to or would result in (i) the acquisition of additional securities of the
Company or the disposition of securities of the Company; (ii) an extraordinary
corporate transaction, such as a merger, reorganization or liquidation involving
the Company or any of its subsidiaries; (iii) a sale or transfer of a material
amount of assets of the Company or any of its subsidiaries; (iv) any change in
the present board of directors or management of the Company, including any plans
or proposals to change the number or term of directors or to fill any existing
vacancies on the board; (v) any material change in the present capitalization or
dividend policy of the Company; (vi) any other material change in the Company's
business or corporate structure; (vii) changes in the Company's charter, bylaws
or instruments corresponding thereto or other actions which may impede the
acquisition of control of the Company by any person; (viii) causing a class of
the Company's securities to be delisted from a national securities exchange or
to cease to be authorized to be quoted in an inter-dealer quotation system of a
registered national securities association; (ix) a class of the Company's equity
securities becoming eligible for termination of registration pursuant to Section
12(g)(4) of the Securities and Exchange Act of 1934; or (x) any action similar
to any of those enumerated above.
Item 5. Interest in Securities of Issuer
(a) J/T may be deemed to be the beneficial owner of 1,501,000 Shares.
Such Shares constitute 18.2% of the outstanding Shares (based on information
obtained from the Company). TM Japan through its 35% general partnership
interest in J/T may be deemed to be the beneficial owner of 1,501,000 Shares. TM
USA through its 15% general partnership interest in J/T may be deemed to be the
beneficial owner of 1,501,000 Shares. JFS Delaware through its 50% general
partnership interest in J/T may be deemed to be the beneficial owner of
1,501,000 Shares. Tomen Corporation through its wholly-owned subsidiaries, TM
Japan and TM USA, and through its employment of Kazatami Okui, a director of the
Company, who owns 10,000 stock options of the Company which are immediately
exercisable at an exercise price of $19.00 per share (the "Okui Options"), may
be deemed to be the beneficial owner of 1,511,000 Shares. JFS Europe through its
wholly-owned subsidiary, JFS Delaware, may be deemed to be the beneficial owner
of 1,501,000 Shares and JFS Singapore through its 60% owned subsidiary, JFS
Europe, and through its employment of Tim Lawrence Watkins, a director of the
Company, who owns 10,000 stock options of the Company which are immediately
exercisable at an exercise price of $19.00 per share (the "Watkins Options") may
be deemed to be the beneficial owner of 1,511,000 Shares.
To the knowledge of J/T, TM Japan, TM USA, Tomen, JFS Delaware, JFS
Europe and JFS Singapore, none of the persons described on Exhibit 1 owns any of
the Company's Shares except Kazutami Okui and Tim Lawrence Watkins, directors of
the Company, each own 10,000 stock options granted pursuant to the Company's
1996 Director Stock Option Plan.
(b) Each of TM Japan, TM USA and JFS Delaware may be deemed to share
the power to vote or direct the vote and the power to dispose or direct the
disposition of the Shares owned by J/T. In addition, Tomen, by virtue of its
direct ownership of all of the stock of TM Japan and TM USA, may be deemed to
share with TM Japan, TM USA, JFS Delaware, JFS Europe and JFS Singapore, the
power to vote or direct the vote and the power to dispose or direct the
disposition of the Shares owned by J/T. JFS Europe, by virtue of its direct
ownership of all of the stock of JFS Delaware and JFS Singapore by virtue of its
60% ownership interest in JFS Europe, may each be deemed to share with TM Japan,
TM USA, Tomen and with each other, the power to vote or direct the vote and the
power to dispose or direct the disposition of the Shares owned by J/T. JFS
Singapore through its employment of Tim Lawrence Watkins, a director of the
Company and the owner of the Watkins Options, may be deemed to share the power
to vote or direct the vote and the power to dispose or direct the disposition of
the Watkins Options with Mr. Watkins. Tomen, through its employment of Kazutami
Okui, a director of the Company and the owner of the Okui Options, may be deemed
to share the power to vote or direct the vote and the power to dispose or direct
the disposition of the Okui Options with Mr. Okui.
(c) None in addition to the transactions described in Item 3.
<PAGE>
(d-e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or
Relationships with Respect to Securities of the Issuer
Except as described in Items 2, 3 and 4, there are no contracts,
arrangements, understandings or relationships (legal or otherwise) among the
persons named in Item 2 and between such persons and any person with respect to
any securities of the Company.
Item 7. Material to be Filed as Exhibits
The following exhibits are incorporated herein by reference:
1. Executive Officers and Directors of TM Aviation (Japan) Inc., TM
Aviation (USA) Inc., and Tomen Corporation, Japan Fleet Service
(Delaware) Inc., Japan Fleet Service (Europe) B.V. and Japan
Fleet Service (Singapore) Pte. Ltd. who are not Reporting
Persons.
2. Partnership Agreement of J/T Aviation Partners, dated February
14, 1992.*
3. First Amendment to Partnership Agreement of J/T Aviation
Partners, dated November 30, 1994.*
4. Exchange Agreement by and among Aviation Sales Company and the
limited partners of ASC Acquisition Partners, L.P., dated June
26, 1996.*
5. Agreement of Merger by and among Aviation Sales Management
Company, Aviation Sales Company and Aviation Sales Operating
Company dated as of June 24, 1996.*
6. Amended and Restated Partnership Agreement of AJT Capital
Partners, dated November 30, 1994.*
7. Agreement to dissolve AJT Capital Partners Partnership Agreement
between J/T Aviation Partners and RCP Management, L.P. dated as
of June 26, 1996.*
8. Joint Filing Agreement between J/T Aviation Partners, TM Aviation
(Japan) Inc., TM Aviation (USA) Inc., Japan Fleet Service
(Delaware) Inc., Japan Fleet Service (Europe) B.V., Tomen
Corporation and Japan Fleet Service (Singapore) Pte. Ltd.
*Previously filed.
<PAGE>
After reasonable inquiry and to the best of the undersigned's
knowledge and belief, the undersigned hereby certify that the information set
forth in this statement is true, complete and correct.
Dated: August 6, 1996
J/T AVIATION PARTNERS
By: JAPAN FLEET SERVICE (DELAWARE) INC.,
General Partner
For J/T Aviation Partners and as a Reporting Person
By: /s/ Tim L. Watkins
---------------------------------------------
Name: Tim L. Watkins
Title: President
By: TM AVIATION (JAPAN) INC., General Partner
For J/T Aviation Partners and as a Reporting Person
By: /s/ K. Okui
---------------------------------------------
Name: K. Okui
Title: President
By: TM AVIATION (USA) INC., General Partner
For J/T Aviation Partners and as a Reporting Person
By: /s/ T. Yoshida
---------------------------------------------
Name: T. Yoshida
Title: President
TOMEN CORPORATION
By: /s/ K. Okui
-------------------------------------------------
Name: K. Okui
Title:
JAPAN FLEET SERVICE (Europe) B.V.
By: /s/ Tim L. Watkins
-------------------------------------------------
Name: Tim L. Watkins
Title: President
JAPAN FLEET SERVICE (Singapore) Pte. Ltd.
By: /s/ Tim L. Watkins
-------------------------------------------------
Name: Tim L. Watkins
Title: Managing Director
<PAGE>
EXHIBIT INDEX
Exhibit Sequentially
Numbered Page
--------------------
1. Executive Officers and Directors of TM Aviation (Japan) Inc., TM
Aviation (USA) Inc., and Tomen Corporation, Japan Fleet Service
(Delaware) Inc., Japan Fleet Service (Europe) B.V. and Japan Fleet
Service (Singapore) Pte. Ltd. who are not Reporting Persons.
2. Partnership Agreement of J/T Aviation Partners, dated February 14,
1992.*
3. First Amendment to Partnership Agreement of J/T Aviation Partners,
dated November 30, 1994.*
4. Exchange Agreement by and among Aviation Sales Company and the
limited partners of ASC Acquisition Partners, L.P., dated June 26,
1996.*
5. Agreement of Merger by and among Aviation Sales Management
Company, Aviation Sales Company and Aviation Sales Operating
Company dated as of June 24, 1996.*
6. Amended and Restated Partnership Agreement of AJT Capital Partners,
dated November 30, 1994.*
7. Agreement to dissolve AJT Capital Partners Partnership Agreement by
and between J/T Aviation Partners and RCP Management, L.P. dated
as of June 26, 1996.*
8. Joint Filing Agreement between J/T Aviation Partners, TM Aviation
(Japan) Inc., TM Aviation (USA) Inc., Japan Fleet Service (Delaware)
Inc., Japan Fleet Service (Europe) B.V., Tomen Corporation and Japan
Fleet Service (Singapore) Pte. Ltd.
*Previously filed.
<PAGE>
EXHIBIT 1
Executive Officers and Directors of
TM Aviation (Japan) Inc., TM Aviation (USA) Inc.,
Japan Fleet Service (Delaware) Inc. Japan Fleet Service (Europe) B.V.,
Tomen Corporation and Japan Fleet Service (Singapore) Pte. Ltd.
Who Are Not Reporting Persons
The following sets forth certain information about executive
officers and directors of TM Aviation (Japan) Inc., TM Aviation (USA) Inc.,
Japan Fleet Service (Delaware) Inc., Japan Fleet Service (Europe) B.V., Tomen
Corporation and Japan Fleet Service (Singapore) Pte. Ltd. who are not Reporting
Persons. Each of such persons is a citizen of Japan, with the exception of Tim
Lawrence Watkins and Harold Marvin Woody, who are citizens of the United States.
Present Principal Occupation or Employment;
Name, Principal Business, and Address in Which
Name and Residence or Such Employment is Conducted (if Different from
Business Address Business Address of Employer)
- - --------------------- -----------------------------
Yasuo Matsukawa President
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Hideo Hirata Executive Vice President
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Hisashi Takemura Executive Vice President
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Akihiro Tsuji Executive Vice President
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Kazuo Miyaoka Senior Managing Director
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Takeshi Emi Senior Managing Director
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Susumu Matsui Senior Managing Director
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Yoshiaki Ueki Senior Managing Director
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
1-1
<PAGE>
Exhibit 1 (cont'd)
Present Principal Occupation or Employment;
Name, Principal Business, and Address in Which
Name and Residence or Such Employment is Conducted (if Different from
Business Address Business Address of Employer)
- - --------------------- -----------------------------
Keiji Kuwata Managing Director
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Kichibe Ozaki Senior Managing Director
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Tsutomu Nishiwaki Senior Managing Director
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Katsuhiko Mizutani Senior Managing Director
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Satoshi Miwa Managing Director
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Tetsuki Nakagawa Managing Director
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Naoyuki Matsunobu Managing Director
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Morihiko Tashiro Managing Director
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Yuzo Takeshige Managing Director
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Hajime Kawamura Managing Director
1285 Avenue of the Americas Tomen Corporation
New York, New York 10019
(business)
Mikio Omori Director
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
1-2
<PAGE>
Exhibit 1 (cont'd)
Present Principal Occupation or Employment;
Name, Principal Business, and Address in Which
Name and Residence or Such Employment is Conducted (if Different from
Business Address Business Address of Employer)
- - --------------------- -----------------------------
Koichi Matsuura Director
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Kiyobumi Yamada Managing Director
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Hiroshi Uemura Director
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Hiroyuki Tsuchimoto Director
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Yoshitaka Mangyoku Director
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Michio Ishidate Director
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Hajime Imanishi Director
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Kenzo Inoue Director
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Kazuhiko Otsuka Director
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Kouji Taira Director
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Yoshio Tadeno Director
14-27 Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan
1-3
<PAGE>
Exhibit 1 (cont'd)
Present Principal Occupation or Employment;
Name, Principal Business, and Address in Which
Name and Residence or Such Employment is Conducted (if Different from
Business Address Business Address of Employer)
- - --------------------- -----------------------------
Yoji Kikkawa Director
14-27 Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan
Kimikazu Ushizaki Director
14-27 Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan
Minota Kano Director
14-27 Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan
Takashi Yoshida President and Director
14-27 Akasaka 2-chome TM Aviation (USA) Inc.
Minato-ku Vice President
Tokyo, Japan TM Aviation (Japan) Inc.
Kazuhiko Maeda Vice President
14-27 Akasaka 2-chome TM Aviation (USA) Inc.
Minato-ku
Tokyo, Japan
Kazutami Okui President and Director
14-27 Akasaka 2-chome TM Aviation (Japan) Inc.
Minato-ku
Tokyo, Japan
Akihiko Sato Vice President and Director
10 Shenton Way # 17-06/09 Japan Fleet Service (Delaware) Inc.
MAS (Monetary Authority of Senior Executive Vice President,
Singapore) Building Chief Operating Officer and Director
Singapore 0207 Japan Fleet Service (Singapore) Pte. Ltd.
Director
Japan Fleet Service (Europe) B.V.
Tim Lawrence Watkins President and Director
10 Shenton Way # 17-06/09 Japan Fleet Service (Delaware) Inc.
MAS (Monetary Authority of President, Chief Executive Officer
Singapore) Building and Director
Singapore 0207 Japan Fleet Service (Singapore) Pte. Ltd.
Director
Japan Fleet Service (Europe) B.V.
Harold Marvin Woody Vice President and Director
10 Shenton Way # 17-06/09 Japan Fleet Service (Delaware) Inc.
MAS (Monetary Authority of Executive Vice President and Director
Singapore) Building Japan Fleet Service (Singapore) Pte. Ltd.
Singapore 0207
1-4
<PAGE>
Present Principal Occupation or Employment;
Name, Principal Business, and Address in Which
Name and Residence or Such Employment is Conducted (if Different from
Business Address Business Address of Employer)
- - --------------------- -----------------------------
Yasumasa Ono Chairman and Director
10 Shenton Way # 17-06/09 Japan Fleet Service (Delaware) Inc.
MAS (Monetary Authority of Chairman
Singapore) Building Japan Fleet Service (Singapore) Pte. Ltd.
Singapore 0207
Keizaburo Fukushi Director
10 Shenton Way # 17-06/09 Japan Fleet Service (Delaware) Inc.
MAS (Monetary Authority of Senior Executive Vice President,
Singapore) Building Chief Financial Officer and Director
Singapore 0207 Japan Fleet Service (Singapore) Pte. Ltd.
Director
Japan Fleet Service (Europe) B.V.
Toshihiko Koga Director
10 Shenton Way # 17-06/09 Japan Fleet Service (Singapore) Pte. Ltd.
MAS (Monetary Authority of
Singapore) Building
Singapore 0207
Kazutami Okui Director
10 Shenton Way # 17-06/09 Japan Fleet Service (Singapore) Pte. Ltd.
MAS (Monetary Authority of
Singapore) Building
Singapore 0207
Kazuhiko Iwahori Director
10 Shenton Way # 17-06/09 Japan Fleet Service (Singapore) Pte. Ltd.
MAS (Monetary Authority of
Singapore) Building
Singapore 0207
Gen Koyama Director
10 Shenton Way # 17-06/09 Japan Fleet Service (Singapore) Pte. Ltd.
MAS (Monetary Authority of
Singapore) Building
Singapore 0207
Yoichiro Nakamura Director
10 Shenton Way # 17-06/09 Japan Fleet Service (Singapore) Pte. Ltd.
MAS (Monetary Authority of
Singapore) Building
Singapore 0207
1-5
<PAGE>
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(f) under the Securities Exchange
Act of 1934, as amended, the persons named below agree to the joint filing on
behalf of each of them of the Schedule 13D to which this Agreement is an exhibit
(and any further amendment filed by them) with respect to the shares of Common
Stock, $.001 par value, of Aviation Sales Company.
This agreement may be executed simultaneously in any number of
counterparts, all of which together shall constitute one and the same
instrument.
Dated: August 6, 1996
J/T AVIATION PARTNERS
By: JAPAN FLEET SERVICE (DELAWARE) INC.,
General Partner
For J/T Aviation Partners and as a Reporting
Person
By: /s/ Tim L. Watkins
-----------------------------------------
Name: Tim L. Watkins
Title: President
By: TM AVIATION (JAPAN) INC., General Partner
For J/T Aviation Partners and as a Reporting
Person
By: /s/ K. Okui
-----------------------------------------
Name: K. Okui
Title: President
By: TM AVIATION (USA) INC., General Partner
For J/T Aviation Partners and as a Reporting
Person
By: /s/ T. Yoshida
-----------------------------------------
Name: T. Yoshida
Title: President
TOMEN CORPORATION
By: /s/ K. Okui
-----------------------------------------
Name:
Title:
<PAGE>
JAPAN FLEET SERVICE (Europe) B.V.
By: /s/ Tim L. Watkins
-------------------------------------------
Name: Tim L. Watkins
Title: Director
JAPAN FLEET SERVICE (Singapore) Pte. Ltd.
By: /s/ Tim L. Watkins
-------------------------------------------
Name: Tim L. Watkins
Title: Managing Director
