FINE AIR SERVICES CORP
NT 10-Q, 1999-05-17
AIR TRANSPORTATION, NONSCHEDULED
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                     U.S. SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 12B-25

                                                COMMISSION FILE NUMBER 333-59359

                           NOTIFICATION OF LATE FILING

                                  (Check One):

[ ]    Form 10-K                                                 [X] Form 10-Q
[ ]    Form 11-K                                                 [ ] Form N-SAR
[ ]    Form 20-F

For Period Ended:     MARCH 31, 1999

[ ]    Transition Report on Form 10-K        [ ] Transition Report on Form 10-Q
[ ]    Transition Report on Form 11-K        [ ] Transition Report on Form N-SAR
[ ]    Transition Report on Form 20-F

For Transition Period Ended:

Nothing in this Form shall be construed to imply that the Commission has
verified any information contained herein.

If the notification relates to a portion of the filing checked above, identify
the Item(s) to which the notification relates:

- -------------------------------------------------------------------------------

- -------------------------------------------------------------------------------

- -------------------------------------------------------------------------------

PART I - REGISTRANT INFORMATION

- -------------------------------------------------------------------------------

Full Name of Registrant:     FINE AIR SERVICES CORP.

Former Name if Applicable:

Address of Principal Executive Office (Street and Number):

                       2261 N.W. 67TH AVENUE, BUILDING 700

City, State and Zip Code:     MIAMI, FLORIDA  33122

<PAGE>

PART II - RULE 12B-25(B) AND (C)

- -------------------------------------------------------------------------------

If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed. (Check box if appropriate.)

             (a)      The reasons described in reasonable detail in Part III of
                      this form could not be eliminated without unreasonable
                      effort or expense;

         [X] (b)      The subject annual report or portion thereof will be filed
                      on or before the 15th calendar day following the
                      prescribed due date; or the subject quarterly report or
                      portion thereof will be filed on or before the fifth
                      calendar day following the prescribed due date; and

             (c)      The accountant's statement or other exhibit required by
                      Rule 12b-25(c) has been attached if applicable.

- -------------------------------------------------------------------------------

PART III - NARRATIVE

- -------------------------------------------------------------------------------

State below in reasonable detail the reasons why the Form 10-K, 11-K, 20-F, 10-Q
or N-SAR or the transition report or portion thereof could not be filed within
the prescribed time period. (Attach extra sheets if needed.)

         THE REGISTRANT IS UNABLE TO FILE ITS QUARTERLY REPORT ON FORM 10-Q FOR
THE THREE MONTHS ENDED MARCH 31, 1999 BECAUSE THE REGISTRANT IS EXPERIENCING
DELAYS IN THE COLLECTION AND COMPILATION OF CERTAIN FINANCIAL INFORMATION
REQUIRED TO BE INCLUDED IN THE FORM 10-Q. THE FORM 10-Q WILL BE FILED AS SOON AS
REASONABLY PRACTICABLE AND IN NO EVENT LATER THAN THE FIFTH CALENDAR DAY
FOLLOWING THE PRESCRIBED DUE DATE.

                                       2
<PAGE>

- -------------------------------------------------------------------------------

PART IV - OTHER INFORMATION

- -------------------------------------------------------------------------------

(1) Name and telephone number of person to contact in regard to this
    notification:

      Orlando M. Machado                (305)                 871-6606
- --------------------------------- ---------------- ----------------------------
            (Name)                   (Area Code)         (Telephone Number)

(2)      Have all other periodic reports required under Section 13 or 15(d) of
         the Securities Exchange Act of 1934 or Section 30 of the Investment
         Company Act of 1940 during the preceding 12 months or for such shorter
         period that the registrant was required to file such report(s) been
         filed? If the answer is no, identify the report(s):

                                                             [X] Yes   [ ] No

(3)      Is it anticipated that any significant change in results of operations
         from the corresponding period for the last fiscal year will be
         reflected by the earnings statements to be included in the subject
         report or portion thereof?

                                                             [ ] Yes   [X] No

If so: attach an explanation of the anticipated change, both narratively and
quantitatively, and, if appropriate, state the reasons why a reasonable estimate
of the results cannot be made.

                             FINE AIR SERVICES CORP.
                  --------------------------------------------
                  (Name of Registrant as specified in charter)

Has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.

Date:  May 17, 1999                By:    /S/ ORLANDO M. MACHADO
                                      -----------------------------------------
                                          Name:  Orlando M. Machado
                                          Title: Chief Financial Officer

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