<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(RULE 13D-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
RULES 13D-1(A) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13D-2(A)
(AMENDMENT NO. 1)1
CCAIR Inc.
- --------------------------------------------------------------------------------
(Name of issuer)
COMMON STOCK, par value $.01 per share
- --------------------------------------------------------------------------------
(Title of class of securities)
124868100
- --------------------------------------------------------------------------------
(CUSIP number)
Frederick S. Downs Jr., One Financial Center, Suite 1600, Boston, MA 02111
617-526-8990
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
March 8, 1999
- --------------------------------------------------------------------------------
(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 that 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
|_|.
Note. Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7(b) for other
parties to whom copies are to be sent.
(Continued on the following pages)
(Page 1 of 8 Pages)
- --------------------------------
1The 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 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> 2
SCHEDULE 13D
- -------------------- --------------------
CUSIP NO. 124868100 PAGE 2 OF 8 PAGES
- -------------------- --------------------
- ------------ -------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
PAR CAPITAL MANAGEMENT, INC.
- ------------ -------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) |_|
(B) |X|
- ------------ -------------------------------------------------------------------
3 SEC USE ONLY
- ------------ -------------------------------------------------------------------
4 SOURCE OF FUNDS *
- ------------ -------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(D) OR 2(E) |_|
- ------------ -------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
STATE OF DELAWARE
- ----------------------- ----- --------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
836,100 COMMON STOCK
SHARES
BENEFICIALLY
----- --------------------------------------------------
OWNED BY EACH
8 SHARED VOTING POWER
REPORTING
NONE
PERSON WITH
----- --------------------------------------------------
9 SOLE DISPOSITIVE POWER
836,100 COMMON STOCK
----- --------------------------------------------------
10 SHARED DISPOSITIVE POWER
NONE
- ------------ -------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
836,100 COMMON STOCK
- ------------ -------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* |_|
- ------------ -------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
9.4% COMMON STOCK
- ------------ -------------------------------------------------------------------
14 TYPE OF REPORTING PERSON *
- ------------ -------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 3
SCHEDULE 13D
- -------------------- --------------------
CUSIP NO. 124868100 PAGE 3 OF 8 PAGES
- -------------------- --------------------
- ------------ -------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
PAR INVESTMENT PARTNERS, L.P.
- ------------ -------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) |_|
(B) |X|
- ------------ -------------------------------------------------------------------
3 SEC USE ONLY
- ------------ -------------------------------------------------------------------
4 SOURCE OF FUNDS *
- ------------ -------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(D) OR 2(E) |_|
- ------------ -------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
STATE OF DELAWARE
- ----------------------- ----- --------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
836,100 COMMON STOCK
SHARES
BENEFICIALLY
----- --------------------------------------------------
OWNED BY EACH
8 SHARED VOTING POWER
REPORTING
NONE
PERSON WITH
----- --------------------------------------------------
9 SOLE DISPOSITIVE POWER
836,100 COMMON STOCK
----- --------------------------------------------------
10 SHARED DISPOSITIVE POWER
NONE
- ------------ -------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
836,100 COMMON STOCK
- ------------ -------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* |_|
- ------------ -------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
9.4% COMMON STOCK
- ------------ -------------------------------------------------------------------
14 TYPE OF REPORTING PERSON *
- ------------ -------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 4
SCHEDULE 13D
- -------------------- --------------------
CUSIP NO. 124868100 PAGE 4 OF 8 PAGES
- -------------------- --------------------
- ------------ -------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
PAR GROUP, L.P.
- ------------ -------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) |_|
(B) |X|
- ------------ -------------------------------------------------------------------
3 SEC USE ONLY
- ------------ -------------------------------------------------------------------
4 SOURCE OF FUNDS *
- ------------ -------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(D) OR 2(E) |_|
- ------------ -------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
STATE OF DELAWARE
- ----------------------- ----- --------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
836,100 COMMON STOCK
SHARES
BENEFICIALLY
----- --------------------------------------------------
OWNED BY EACH
8 SHARED VOTING POWER
REPORTING
NONE
PERSON WITH
----- --------------------------------------------------
9 SOLE DISPOSITIVE POWER
836,100 COMMON STOCK
----- --------------------------------------------------
10 SHARED DISPOSITIVE POWER
NONE
- ------------ -------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
836,100 COMMON STOCK
- ------------ -------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* |_|
- ------------ -------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
9.4% COMMON STOCK
- ------------ -------------------------------------------------------------------
14 TYPE OF REPORTING PERSON *
- ------------ -------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 8
<PAGE> 5
STATEMENT ON SCHEDULE 13D
Item 1(a). Name of Issuer:
--------------
CCAir Incorporated
Item 1(b). Address of Issuer's Principal Executive Offices:
-----------------------------------------------
4700 Yorkmont Road, 2nd Floor
Charlotte, NC 28208
Item 2(a). Names of Person Filing:
----------------------
Par Investment Partners, L.P.
Par Group, L.P.
Par Capital Management, Inc.
Item 2(b). Business Mailing Address for the Person Filing:
----------------------------------------------
Par Capital Management, Inc.
One Financial Center, Suite 1600
Boston, MA 02111
Item 2(c). Citizenship:
-----------
State of Delaware
Item 2(d). Title of Class of Securities:
----------------------------
Common Stock, par value $.01 per share
Item 2(e). CUSIP Number:
------------
124868100
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or
13d-2(b), check whether the person filing is a:
----------------------------------------------
Not Applicable
Item 4. Ownership:
---------
(a) Amount Beneficially Owned:
836,100 common stock
(b) Percent of Class:
9.4% common stock
(c) Number of shares as to which such person has:
(i) 836,100 common stock
(ii) shared power to vote or to direct the vote:
(iii) sole power to dispose or to direct the
disposition of:
Page 5 of 8
<PAGE> 6
836,100 common stock
(iv) shared power to dispose or to direct the
disposition of:
Item 5. Ownership of Five Percent or Less of a Class:
--------------------------------------------
Not Applicable
Item 6. Ownership of More than Five Percent on Behalf of Another Person:
---------------------------------------------------------------
Not Applicable
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company:
--------------------------------------------------------
Not Applicable
Item 8. Identification and Classification of Members of the Group:
---------------------------------------------------------
Not Applicable
Item 9. Notice of Dissolution of Group:
------------------------------
Not Applicable
Item 10. Certification:
-------------
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not
held for the purpose of or with the effect of changing or influencing
the control of the issuer of the securities and were not acquired and
are not held in connection with or as a participant in any transaction
having that purpose or effect.
Page 6 of 8
<PAGE> 7
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: March 10, 1999
PAR INVESTMENT PARTNERS, L.P.
By: PAR GROUP, L.P.
its general partner
By: PAR CAPITAL MANAGEMENT, INC.
its general partner
By: /s/ Frederick S. Downs, Jr.
---------------------------------------
Frederick S. Downs, Jr., Vice President
PAR GROUP, L.P.
By: PAR CAPITAL MANAGEMENT, INC.,
its general partner
By: /s/ Frederick S. Downs, Jr.
---------------------------------------
Frederick S. Downs, Jr., Vice President
PAR CAPITAL MANAGEMENT, INC.
By: /s/ Frederick S. Downs, Jr.
---------------------------------------
Frederick S. Downs, Jr., Vice President
Page 7 of 8
<PAGE> 8
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k) under the Securities Exchange Act of
1934, as amended, the undersigned agree to the joint filing on behalf of each of
them of a statement on Schedule 13D (including amendments thereto) with respect
to the CCAir Incorporated and further agree that this agreement be included as
an exhibit to such filing. Each party to the agreement expressly authorizes each
other party to file on its behalf any and all amendments to such statement. Each
party to this agreement agrees that this joint filing agreement may be signed in
counterparts.
In evidence whereof, the undersigned have caused this Agreement to be
executed on their behalf this 10th day of March, 1999.
PAR INVESTMENT PARTNERS, L.P.
By: PAR GROUP, L.P.
its general partner
By: PAR CAPITAL MANAGEMENT, INC.
its general partner
By: /s/ Frederick S. Downs, Jr.
---------------------------------------
Frederick S. Downs, Jr., Vice President
PAR GROUP, L.P.
By: PAR CAPITAL MANAGEMENT, INC.,
its general partner
By: /s/ Frederick S. Downs, Jr
---------------------------------------
Frederick S. Downs, Jr., Vice President
PAR CAPITAL MANAGEMENT, INC.
By: /s/ Frederick S. Downs, Jr.
---------------------------------------
Frederick S. Downs, Jr., Vice President
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