<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 3)
INTERNATIONAL AIRCRAFT INVESTORS
(NAME OF ISSUER)
COMMON STOCK, PAR VALUE $.01 PER SHARE
(TITLE OF CLASS OF SECURITIES)
458860103
(CUSIP NUMBER)
Goodloe M. Partee, Esq.
Kutak Rock LLP
425 West Capitol Avenue, Suite 1100
Little Rock, Arkansas 72201
(501) 975-3000
(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON AUTHORIZED TO
RECEIVE NOTICES AND COMMUNICATIONS)
August 11, 2000*
(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(e), 13d-1(f) or 13d-1(g) check the following
box [ ]
*On August 11, 2000, the issuer filed a Form 10-Q with the Securities and
Exchange Commission in which it reported 3,882,384 shares of its common stock
outstanding as of August 4, 2000. That outstanding amount reflects a decrease
in the number of shares outstanding from the number reported in the issuer's
last filing with the Commission prior to the filing of the second amendment to
the Form 13D to which this third amendment relates. That decrease, in
combination with certain open market purchases of the issuer's common stock by
the persons filing this amendment, contributed to an increase in the number of
shares of the issuer beneficially owned by the persons filing this amendment in
excess of one percent of the common stock outstanding of the issuer.
<PAGE>
SCHEDULE 13D
CUSIP NO. 458860103
-----------------
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only).
Key Colony Fund, L.P.
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
2 (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS (See Instructions)
4
WC
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5 Not Applicable
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
466,500
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 0
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
466,500
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
0
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
466,500
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12
(See Instructions) Not Applicable
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
12.0%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (See Instructions)
14
IV
------------------------------------------------------------------------------
2
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SCHEDULE 13D
CUSIP NO. 458860103
-----------------
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only).
Lieblong Transport, Inc.
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
2 (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS (See Instructions)
4
WC
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5 Not Applicable
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
96,600
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 0
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
96,600
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
0
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
96,600
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12
(See Instructions) Not Applicable
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
2.5%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (See Instructions)
14
CO
------------------------------------------------------------------------------
3
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SCHEDULE 13D
CUSIP NO. 458860103
-----------------
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only).
Paul Spann
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
2 (a) [_]
(b) [X]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS (See Instructions)
4
PF
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5 Not Applicable
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Arkansas
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
10,000
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 0
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
10,000
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
0
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
10,000
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12
(See Instructions) Not Applicable
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0.3%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (See Instructions)
14
BD,IN
------------------------------------------------------------------------------
4
<PAGE>
SCHEDULE 13D
CUSIP NO. 458860103
-----------------
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only).
Alex R. Lieblong
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
2 (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS (See Instructions)
4
PF
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5 Not Applicable
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Arkansas
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
155,000
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 0
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
155,000
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
0
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
155,000
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12
(See Instructions) Not Applicable
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
4.0%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (See Instructions)
14
BD, IA, IN
------------------------------------------------------------------------------
5
<PAGE>
This Amendment No. 3 to Schedule 13D (the "Amendment") is being filed on behalf
of the reporting persons listed above to amend the Schedule 13D (the "Schedule
13D") which was originally filed on their behalf on February 18, 2000, and
subsequently amended on May 4, 2000 and July 21, 2000, relating to the common
stock, $.01 par value (the "Common Stock") of International Aircraft Investors,
a California corporation (the "Issuer"). All terms used and not otherwise
defined in this Amendment shall have the meanings attributed to such terms in
the Schedule 13D. This Amendment is being filed pursuant to Rule 13d-2 of the
General Rules and Regulations under the Securities and Exchange Act of 1934 as
amended. Only those items reported in this Amendment are amended. All other
items remain unchanged. Accordingly, those Items which remain unchanged are
omitted from this Amendment.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Subsequent to the filing of the second amendment to 13(a) on July 21, 2000,
38,500 additional shares of the Common Stock of the Issuer have been purchased
with funds in the amount of $214,635.75 from the available cash resources of
ARL, LTI, PS and KCF.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) Information with respect to the aggregate number, and percentage, of
all outstanding Common Stock beneficially owned as of August 25, 2000 by each of
the Holders is set forth below:
SHARES OF PERCENTAGE OF
--------- -------------
NAME COMMON STOCK OUTSTANDING SHARES
---- ------------ ------------------
Key Colony Fund, L.P. 466,500 12.0%
Lieblong Transport, Inc. 96,600 2.5%
Alex R. Lieblong 155,000 4.0%
Paul Spann 10,000 0.3%
(b) The Holders' response to Items 7 through 13 of the cover pages of
this Schedule 13D relating to beneficial ownership of shares of Common Stock are
incorporated herein by reference.
(c) According to the Issuer's most current filing with the SEC, the
Issuer has 3,882,384 shares of Common Stock outstanding. The Holders, at the
present time, collectively own 728,100 shares of the Issuer's Common Stock
(constituting approximately 18.8% of all of the outstanding shares of Common
Stock). Transactions by the Holders in shares of Common Stock of the Issuer in
the last sixty days are as follows:
6
<PAGE>
KEY COLONY FUND, L.P.
TYPE OF NUMBER PRICE
------- ------ ------
DATE TRANSACTION OF SHARES PER SHARE
-------- --------------- --------- ----------
7/13/00* Market Sale 1700 5
7/14/00* Market Purchase 250,000 5
8/4/00 Market Purchase 1000 5 9/16
8/7/00 Market Purchase 2000 5 11/16
8/14/00 Market Purchase 2000 6
8/14/00 Market Purchase 7000 6 1/16
8/14/00 Market Purchase 1500 6 1/16
LIEBLONG TRANSPORT, INC.
TYPE OF NUMBER PRICE
------- ------ ------
DATE TRANSACTION OF SHARES PER SHARE
-------- --------------- --------- ----------
7/14/00* Market Purchase 60,000 5
ALEX R. LIEBLONG
TYPE OF NUMBER PRICE
------- ------ ------
DATE TRANSACTION OF SHARES PER SHARE
-------- --------------- --------- ----------
7/14/00* Market Purchase 111,000 5
7/14/00* Market Purchase 2000 5 1/2
7/25/00 Market Purchase 2000 5
7/25/00 Market Purchase 2000 5 1/8
7/26/00 Market Purchase 2000 5 1/8
7/26/00 Market Purchase 3000 5 1/8
7/26/00 Market Purchase 3000 5 1/8
7/26/00 Market Purchase 3500 5 1/8
7/27/00 Market Purchase 2000 5 5/16
8/3/00 Market Purchase 1500 5 3/8
8/3/00 Market Purchase 2000 5 7/16
8/3/00 Market Purchase 1000 5 7/16
8/15/00 Market Purchase 2000 6
8/16/00 Market Purchase 1000 5 15/16
PAUL SPANN
TYPE OF NUMBER PRICE
------- ------ ------
DATE TRANSACTION OF SHARES PER SHARE
-------- --------------- --------- ----------
7/14/00* Market Purchase 9000 5
* Previously reported in the second amendment to the Schedule 13D filed on
July 21, 2000
(d) No other person has the right to receive or the power to direct the
receipt of dividends from, or the proceeds of sale of, any of the Issuer's
Common Stock beneficially owned by the Holders.
7
<PAGE>
(e) Not applicable.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Exhibit A - Agreement as to joint filings pursuant to Regulation Section
240.13d-1(k)(1)(iii).
8
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: August 25, 2000 KEY COLONY FUND, L.P.
By: /s/ Alex R. Lieblong
Name: Alex R. Lieblong
Title: General Partner
LIEBLONG TRANSPORT, INC.
By: /s/ Alex R. Lieblong
Name: Alex R. Lieblong
Title: President
PAUL SPANN
/s/ Paul Spann
ALEX R. LIEBLONG
/s/ Alex R. Lieblong
9
