UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 10-Q

[Mark One]

[X]     QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF
        THE SECURITIES EXCHANGE ACT OF 1934

        FOR THE QUARTERLY PERIOD ENDED JUNE 30, 1997

                                       OR

[ ]     TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
        EXCHANGE ACT OF 1934

        For the transition period from ____________________ to ________________

                           Commission File No. 1-11775

                             AVIATION SALES COMPANY
              ----------------------------------------------------
             (Exact name of registrant as specified in its charter)

          DELAWARE                                             65-0665658
 ------------------------------                               ------------
(State or other jurisdiction of                              (IRS Employer
incorporation or organization)                             Identification No.)

      6905 NW 25TH STREET                                         33122
         MIAMI, FLORIDA                                          -------
 -------------------------------------                          (Zip Code)
(Address of principal executive offices)

       Registrant's telephone number, including area code: (305) 592-4055

         Indicate by check whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such report(s), and (2) has been subject to such
filing requirements for the past 90 days.     YES [X]    NO [ ]

         Indicate the number of shares outstanding of each of the issuer's
classes of common equity, as of the latest practicable date: 8,562,500 shares of
common stock, $.001 par value per share, were outstanding as of August 11, 1997.


<PAGE>
<TABLE>
<CAPTION>


                     AVIATION SALES COMPANY AND SUBSIDIARIES

                      CONDENSED CONSOLIDATED BALANCE SHEETS



                                                      DECEMBER 31, 1996   JUNE 30, 1997
                                                      -----------------   -------------
                                                                           (UNAUDITED)
<S>                                                   <C>                 <C>
              ASSETS
CURRENT ASSETS
  Cash and cash equivalents                             $    1,262,149    $    2,435,956
  Accounts receivable, net of allowances for doubtful
    accounts of $3,779,580 and $3,900,017 and
    allowances for sales returns of $1,227,598 and
    $1,249,098 in 1996 and 1997, respectively               37,086,899        50,662,620
  Inventories                                               72,974,397        89,644,998
  Prepaid expenses                                           4,067,332           985,226
  Deferred income taxes                                      1,972,410         2,639,029
                                                        --------------    --------------
           Total current assets                            117,363,187       146,367,829
                                                        --------------    --------------
SPARE PARTS ON LEASE, net of accumulated
  amortization of $2,601,069 in 1996 and $2,961,497
  in 1997                                                   17,950,783        22,444,293
                                                        --------------    --------------
FIXED ASSETS
  Property and equipment                                     4,333,070         5,490,251
  Less - Accumulated depreciation                           (2,027,197)       (2,455,453)
                                                        --------------    --------------
           Total fixed assets                                2,305,873         3,034,798
                                                        --------------    --------------
AMOUNTS DUE FROM RELATED PARTIES                             2,914,615         2,872,987
                                                        --------------    --------------
OTHER ASSETS
  Deposits and other                                           369,191           532,616
  Deferred income taxes                                      3,406,331         3,314,774
  Deferred financing costs, net                                872,568           789,474
                                                        --------------    --------------
           Total other assets                                4,648,090         4,636,864
                                                        --------------    --------------
           Total assets                                 $  145,182,548    $  179,356,771
                                                        ==============    ==============
</TABLE>


                                      - 2 -


<PAGE>
<TABLE>
<CAPTION>


                     AVIATION SALES COMPANY AND SUBSIDIARIES

                      CONDENSED CONSOLIDATED BALANCE SHEETS

                                   (Continued)

                                                     DECEMBER 31, 1996   JUNE 30, 1997
                                                     -----------------   -------------
                                                                          (UNAUDITED)
<S>                                                  <C>                <C>
              LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
  Accounts payable                                      $  15,736,276   $  19,312,319
  Accrued expenses                                          7,746,156       7,262,938
  Income taxes payable                                        755,228       1,588,616
  Notes payable, current maturities
    Senior                                                  7,428,571       7,428,571
    Revolver                                               16,697,985      43,301,014
                                                        -------------   -------------
           Total current liabilities                       48,364,216      78,893,458
                                                        -------------   -------------
LONG-TERM LIABILITIES
  Deferred income                                             890,065       1,728,045
  Notes payable - Senior                                   14,857,143      11,142,857
                                                        -------------   -------------
           Total long-term liabilities                     15,747,208      12,870,902
                                                        -------------   -------------
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
  Preferred stock, $.01 par value, 1,000,000 shares
    authorized, none outstanding                                 --              --
  Common stock, $.001 par value, 30,000,000 shares
    authorized, 8,562,500 shares outstanding in 1996
    and 1997, respectively                                      8,563           8,563
  Additional paid-in capital                               71,305,305      71,305,305
  Retained earnings                                         9,757,256      16,278,543
                                                        -------------   -------------
           Total stockholders' equity                      81,071,124      87,592,411
                                                        -------------   -------------
           Total liabilities and stockholders' equity   $ 145,182,548   $ 179,356,771
                                                        =============   =============
</TABLE>


              The accompanying notes are on integral part of these
                     condensed consolidated balance sheets.


                                      - 3 -


<PAGE>
<TABLE>
<CAPTION>


                     AVIATION SALES COMPANY AND SUBSIDIARIES

                   CONDENSED CONSOLIDATED STATEMENTS OF INCOME

                                                           (UNAUDITED)
                                                       FOR THE THREE MONTHS                  FOR THE SIX MONTHS
                                                           ENDED JUNE 30,                       ENDED JUNE 30,
                                                 -------------------------------   -----------------------------
                                                     1996               1997            1996              1997
                                                 --------------    -------------   -------------    -------------
<S>                                              <C>               <C>             <C>              <C>
OPERATING REVENUES
  Sales of aircraft parts, net                    $  33,240,026    $  47,567,442   $  66,618,869    $  94,241,539
  Rentals from leases and other                       2,918,858        3,090,745       5,094,161        5,467,384
  Gain on sale of spare parts on lease                     --            752,922            --            752,922
                                                  -------------    -------------   -------------    -------------
                                                     36,158,884       51,411,109      71,713,030      100,461,845
COST OF SALES                                        24,559,767       35,306,744      47,795,210       70,534,482
                                                  -------------    -------------   -------------    -------------
                                                     11,599,117       16,104,365      23,917,820       29,927,363
                                                  -------------    -------------   -------------    -------------
OPERATING EXPENSES
  Operating                                           2,057,011        2,949,927       4,570,775        5,687,432
  Selling                                             1,817,841        2,368,045       3,407,269        4,312,240
  General and administrative                          2,180,725        2,620,386       4,509,576        5,423,749
  Depreciation and amortization                         516,732          707,713         977,537        1,381,649
                                                  -------------    -------------   -------------    -------------
                                                      6,572,309        8,646,071      13,465,157       16,805,070
                                                  -------------    -------------   -------------    -------------
INCOME FROM OPERATIONS                                5,026,808        7,458,294      10,452,663       13,122,293
OTHER EXPENSES
  Interest expense and amortization of deferred
    financing costs                                   1,837,317        1,423,557       3,868,285        2,431,659
                                                  -------------    -------------   -------------    -------------
INCOME BEFORE INCOME TAXES                            3,189,491        6,034,737       6,584,378       10,690,634
INCOME TAX (BENEFIT) EXPENSE                           (714,459)       2,353,547        (714,459)       4,169,347
                                                  -------------    -------------   -------------    -------------
NET INCOME                                        $   3,903,950    $   3,681,190   $   7,298,837    $   6,521,287
                                                  =============    =============   =============    =============
EARNINGS PER SHARE:
  Net income per share                                             $        0.43                    $        0.76
                                                                   =============                    =============
PRO FORMA EARNINGS PER SHARE
(NOTE 3):

  Pro forma net income per share                  $        0.36                    $        0.74               
                                                  =============                    =============                 
WEIGHTED AVERAGE COMMON AND
  COMMON EQUIVALENT SHARES
  OUTSTANDING                                         5,400,000        8,600,282       5,400,000        8,600,282
                                                  =============    =============   =============    =============
</TABLE>


                                      - 4 -


<PAGE>


              The accompanying notes are an integral part of these
                  condensed consolidated financial statements.


                                      - 5 -


<PAGE>
<TABLE>
<CAPTION>

                     AVIATION SALES COMPANY AND SUBSIDIARIES

                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

                                   (UNAUDITED)

                                                                       FOR THE SIX MONTHS
                                                                         ENDED JUNE 30,
                                                                 ----------------------------
                                                                      1996           1997
                                                                 ------------    ------------
<S>                                                              <C>             <C>
CASH FLOWS FROM OPERATING ACTIVITIES
  Net income                                                     $  7,298,837    $  6,521,287
  Adjustments to reconcile net income to net cash used
    in operating activities
    Depreciation and amortization                                   1,348,064       1,544,987
    Provision for doubtful accounts                                   334,247         570,000
    Increase in deferred income taxes                                (914,459)       (575,062)
    Gain on sale of spare parts on lease                                 --          (752,922)
    (Increase) decrease in accounts receivable, net                (2,500,461)    (14,145,721)
    (Increase) decrease in inventory                               (2,473,642)    (16,670,601)
    (Increase) decrease in prepaid expenses                          (240,706)      3,082,106
    (Increase) decrease in deposits and other                        (707,616)       (163,425)
    Increase (decrease) in accounts payable                        (1,218,698)      3,576,043
    Increase (decrease) in accrued expenses                         1,105,666        (483,218)
    Increase (decrease) in income taxes payable                        64,343         833,388
    Increase (decrease) in deferred income                             12,750         837,980
                                                                 ------------    ------------
           Net cash provided by (used in) operating activities      2,108,325     (15,825,158)
                                                                 ------------    ------------
CASH FLOW FROM INVESTING ACTIVITIES
  Purchases of equipment, net                                        (607,251)     (1,157,181)
  Purchase of spare parts on lease                                 (5,843,464)     (8,023,981)
  Proceeds from sale of spare parts on lease                             --         3,330,000
  Payments from related parties                                        56,268          41,628
                                                                 ------------    ------------
    Net cash used in investing activities                          (6,394,447)     (5,809,534)
                                                                 ------------    ------------
CASH FLOW FROM FINANCING ACTIVITIES
  Distribution to partners                                         (3,041,936)           --
  Repayment of senior debt                                         (5,000,000)           --
  Net borrowings under senior revolving facility                   15,763,592            --
  Net borrowings under new credit facility                               --        26,603,029
  Payment under new credit facility                                      --        (3,714,286)
  Payment of deferred financing costs                                (232,885)        (80,244)
                                                                 ------------    ------------
    Net cash provided by financing activities                       7,488,771      22,808,499
                                                                 ------------    ------------
NET INCREASE (DECREASE) IN CASH AND CASH
  EQUIVALENTS                                                       3,202,649       1,173,807
                                                                 ------------    ------------
CASH AND CASH EQUIVALENTS, beginning of period                        253,307       1,262,149
                                                                 ------------    ------------
CASH AND CASH EQUIVALENTS, end of period                         $  3,455,956    $  2,435,956
                                                                 ============    ============
 Interest paid                                                   $  2,909,842    $  1,992,189
                                                                 ============    ============
 Income taxes paid                                               $    120,126    $  3,888,080
                                                                 ============    ============
</TABLE>

              The accompanying notes are an integral part of these
                  condensed consolidated financial statements.

                                      - 6 -


<PAGE>


                     AVIATION SALES COMPANY AND SUBSIDIARIES
                         NOTES TO CONDENSED CONSOLIDATED
                              FINANCIAL STATEMENTS
                                  June 30, 1997
                                   (Unaudited)

1.   BASIS OF PRESENTATION:

Interim Condensed Financial Statements

The accompanying unaudited interim condensed consolidated financial statements
have been prepared pursuant to the rules and regulations of the Securities and
Exchange Commission for reporting on Form 10-Q. Pursuant to such rules and
regulations, certain information and footnote disclosure normally included in
financial statements prepared in accordance with generally accepted accounting
principles have been condensed or omitted. The accompanying unaudited interim
condensed financial statements should be read in conjunction with the Company's
December 31, 1996 financial statements and the notes thereto included in the
Company's Annual Report on Form 10-K for the year ended December 31, 1996 (File
No. 1-11775).

In the opinion of management, the accompanying unaudited interim condensed
consolidated financial statements of Aviation Sales Company (the "Company")
contain all adjustments (consisting of only normal recurring adjustments)
necessary to present fairly the financial position of the Company as of June
30, 1997 and the results of its operations and cash flows for the three and six
month periods ended June 30, 1997 and 1996. The results of operations and cash
flows for the six month period ended June 30, 1997 are not necessarily
indicative of the results of operations or cash flows which may be reported for
the year ending December 31, 1997.

Accounting Estimates

The preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the date of the financial statements and
the reported amounts of revenues and expenses during the reporting periods.
Actual results could differ from those estimates.

Recently Issued Accounting Standards

Statement of Financial Accounting Standards No. 128, "Earnings Per Share" ("SFAS
No. 128"), is effective for fiscal years ending after December 15, 1997. This
statement specifies the computation, presentation and disclosure requirements
for earnings per share for entities with publicly held common stock or potential
common stock. This pronouncement is not expected to have a material impact on
the financial statements of the Company.

                                      - 7 -


<PAGE>


2. ACQUISITIONS:

On December 10, 1996, the Company acquired AvEng Trading Partners, Inc.
("AvEng") for consideration of 400,000 shares of the Company's common stock. The
acquisition was accounted for using the pooling of interests method of
accounting, and therefore, the Company's consolidated statements of income,
partners' capital and stockholders' equity and cash flows for the year ended
December 31, 1996 reflect the results of operations of AvEng as if the
acquisition had occurred on January 1, 1996.

On August 9, 1996, the Company completed the acquisition of certain assets of
the business of Dixie Bearings, Incorporated ("Dixie") relating primarily to the
sale of new bearings for use in aircraft for a purchase price of approximately
$9 million. The acquisition was accounted for using the purchase method of
accounting. Accordingly, the operations of Dixie since the acquisition have been
included in the accompanying consolidated financial statements from the date of
acquisition. The historical operations of Dixie, when compared to the historical
operations of the Company, are not significant.

3. PRO FORMA DISCLOSURES:

Pro Forma Income Taxes

Prior to June 26, 1996, the business of the Company was conducted by a
partnership and not subject to income taxes. As a result of the transfer of the
net assets of the partnership to the Company and the initial public offering of
its common stock in June 1996, the Company became subject to federal and state
income taxes.

The following pro forma adjustments to record income taxes at the Company's
estimated effective tax rate have been reflected in the pro forma earnings per
share data presented in the accompanying condensed consolidated statements of
income of all periods presented:

                                   FOR THE THREE MONTHS   FOR THE SIX MONTHS
                                    ENDED JUNE 30, 1996   ENDED JUNE 30, 1996
                                   --------------------   -------------------
Historical income before 
  income taxes                          $ 3,081,182           $ 6,584,378
Pro forma provision for 
  income taxes                           (1,201,661)           (2,567,907)
                                        -----------           -----------

Pro form net income                     $ 1,879,521           $ 4,016,471
                                        ===========           ===========

Pro Forma Net Income Per Share

Pro forma net income per share has been computed by dividing pro forma net
income by the weighted average number of common and common equivalent shares
outstanding during the period. Outstanding stock options are considered common
stock equivalents and are included in the calculation using the treasury stock
method.

                                      - 8 -


<PAGE>


ITEM 2: MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS

OVERVIEW

The following discussion and analysis should be read in conjunction with the
information set forth under Management's Discussion and Analysis of Financial
Condition and Results of Operations on pages 15 through 22 of Aviation Sales
Company's Annual Report on Form 10-K for the year ended December 31, 1996. This
discussion contains forward looking information which involve risks and
uncertainties and is based upon information currently available to the Company.
Actual results could differ from those described herein and future results may
be subject to numerous factors, many of which are beyond the control of the
Company.

RESULTS OF OPERATIONS

Second quarter operating revenues rose 42.2% to $51.4 million, compared with
$36.2 million for the same period last year. Operating revenues for the six
months ended June 30, 1997 increased 40.1% to $100.5 million, compared with
$71.7 million, for the same period last year. Operating revenues increased due
to the Company's entrance into the bearings distribution business, increased
revenues from leasing activities, the addition of new sales personnel, 
increased customer penetration, increased investment in and availability of
inventory and the continued expansion of services offered to customers and
customers utilizing the Company's services.

Gross profit increased 38.8% to $16.1 million for the second quarter ended June
30, 1997, compared with $11.6 million for the same period last year. Gross
margin declined to 31.3% for the 1997 second quarter from 32.1% for the 1996
second quarter and increased from 28.2% for the 1997 first quarter. Gross profit
for the first half of 1997 increased 25.1% to $29.9 million compared with $23.9
million for the same period in 1996. Gross margin declined to 29.8% for the
first half of 1997 from 33.4% for the first half of 1996. The decline in gross
profit margin compared to 1996 was expected as the mix of inventories sold
during the period continued to reflect a declining contribution from higher
margin bulk inventories acquired prior to 1995 and an increase in revenues from
the Company's lower margin bearings distribution business acquired in August,
1996. Gross profit margin from bearings distribution was 17.4% for the second
quarter of 1997. The Company expects that its gross margin from period to period
will fluctuate between 27% and 31% of revenues based on the mix of products and
services.

The Company's operating expenses increased $2.1 million in the second quarter of
1997 compared with the second quarter of 1996, due to higher sales levels
resulting in higher selling and operating expenses as well as the increased
costs associated with being a public company. Operating expenses as a percentage
of operating revenues declined, however, to 16.8% in the 1997 second quarter
from 18.2% in the corresponding period of 1996. Operating expenses were $13.5
million for the first half of 1996, or 18.8% of operating revenues, compared
with $16.8 million for the first half of 1997, or 16.7% of operating revenues.
Lower operating expenses as a percentage of operating revenues reflect the
continuing benefits of economies of scale and operating efficiencies.

Interest expense and amortization of deferred financing costs declined from
period to period due to the repayment of $52,806,400 of indebtedness during the
third quarter of 1996 from the proceeds of the Company's initial public
offering.

                                      -9-

<PAGE>


As a result of the above factors, income before income taxes increased $2.8
million, or 89%, from $3.2 million to $6.0 million, respectively, from the three
month period ended June 30, 1996 to the same period ending in 1997. Income
before income taxes for the first half of 1997 increased 62% to $10.7 million,
compared with $6.6 million, for the same period last year.

After accounting for pro forma income taxes (as if the Company had been taxed as
a C Corporation), pro forma net income for the three and six months ended June
30, 1996 were $1.9 million ($0.36 per share) and $4.0 million ($0.74 per share),
respectively, as compared to net income of $3.7 million ($0.43 per share) and
$6.5 million ($0.76 per share), respectively for the three and six months ended
June 30, 1997. Weighted average shares outstanding were 8.6 million during the
three and six months ended June 30, 1997, compared to 5.4 million during the
three and six periods ended June 30, 1996.

LIQUIDITY AND FINANCIAL RESOURCES

Cash provided by operations was $2.1 million for the six month period ended June
30, 1996 and cash used in operations was $15.8 million for the six month period
ended June 30, 1997. Cash used in investing activities for the six month periods
ended June 30, 1996 and 1997 was $6.4 million and $5.8 million, respectively.
During the six month periods ended June 30, 1996 and 1997, the Company financed
its operating and investing activities primarily with its cash flow from
financing activities, amounting to $7.5 million and $22.8 million, respectively.

On July 2, 1996, the Company completed the repayment of indebtedness and
restructuring of its credit facility per the terms of an Amended and Restated
Credit Facility (the "Amended Credit Facility"), dated June 27, 1996. The
Amended Credit Facility consists of (a) a term loan facility (the "Amended Term
Loan") in an original principal amount of $20 million, and (b) a $50.0 million
revolving loan, letter of credit and acquisition loan facility, subject to an
availability calculation based on the eligible borrowing base (the "Amended
Revolving Credit Facility"). The eligible borrowing base includes certain
receivables and inventories of the Company. At June 30, 1997, the Company had
availability under the Amended Credit Facility of approximately $10.5 million.
On May 19, 1997, the Amended Revolving Credit Facility was amended and increased
by an additional $10.0 million. On July 7, 1997, the Amended Revolving Credit
Facility was further amended and increased by an additional $10.0 million for a
period from July 7, 1997 through August 31, 1997. Both of such increases are
temporary and at September 1, 1997 the amount of Amended Revolving Credit
Facility will return to the amount in effect prior to such amendments. The
letter of credit portion of the Amended Revolving Credit Facility is subject to
a $10.0 million sublimit and the acquisition loan portion of the Amended
Revolving Credit Facility is subject to a $30.0 million sublimit with the
imposition of certain borrowing criteria based on the satisfaction of certain
debt ratios. The unused portion of the acquisition loan portion of the Amended
Revolving Credit Facility expires on the second anniversary of the closing date
of the Amended Credit Facility. The interest rate on the Amended Credit Facility
is, at the option of the Company, (a) prime plus a margin, or (b) LIBOR plus a
margin, where the margin determination is made based upon the Company's
financial performance over the prior 12 month period (ranging from 0.25% to
1.25% in the event prime is utilized, or 1.75% to 2.75% in the event LIBOR is
utilized). At June 30, 1997, the margin was .75% for prime rate loans and 2.25%
for LIBOR rate loans.

The Amended Term Loan amortizes in equal quarterly installments and terminates
on December 1, 1999. Interim payments under the Amended Revolving Credit
Facility will be made from daily collections of the Company's accounts
receivable. The Amended Revolving Credit Facility will terminate on

                                      - 10 -

<PAGE>


December 1, 1999. The Amended Credit Facility contains financial and other
covenants and mandatory prepayment events, as defined. At June 30, 1997, the
Company was in compliance with all covenants of the Amended Credit Facility. The
Amended Credit Facility is secured by a lien on substantially all of the assets
of the Company. At June 30, 1997, the outstanding balances under the Amended
Term Loan and Amended Revolving Credit Facility were $18.6 million and $43.3
million, respectively.

During the six month period ended June 30, 1997, the Company incurred capital
expenditures of approximately $1.2 million, primarily to make enhancements to
the Company's management information systems, telecommunication systems and
other capital equipment and improvements.

The repayment of indebtedness with the net proceeds of the Company's June 1996
initial public offering improved the Company's liquidity by reducing both the
Company's interest expense and the principal amount of the indebtedness required
to be repaid in the future. The Company believes that cash flow from operations
and borrowing availability under the Amended Credit Facility will be sufficient
to satisfy the Company's anticipated working capital requirements over the next
12 months.

As part of its growth strategy, the Company intends to pursue acquisitions of
bulk inventories of aircraft spare parts and complementary businesses.
Additionally, the Company is currently evaluating the prospect of purchasing and
implementing a new management information system and exploring the possibility
of consolidating its various facilities into a single warehouse facility.
Financing for such activities would be provided from operations and from the
proceeds of the Amended Credit facility. The Company may also issue additional
debt and/or equity securities or seek to borrow additional funds under its
Amended Credit Facility in connection with its business activities.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

       Not Applicable.

                                     - 11 -


<PAGE>


                           PART II. OTHER INFORMATION

Item 1. LEGAL PROCEEDINGS

          Not applicable

Item 2. CHANGES IN SECURITIES

          Not applicable

Item 3. DEFAULTS UPON SENIOR SECURITIES

          None

Item 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITIES HOLDERS

          None

Item 5. OTHER INFORMATION

          None

Item 6. EXHIBITS AND REPORTS ON FORM 8-K

(a)       EXHIBITS

EXHIBIT NO.  DESCRIPTION
-----------  -----------

10.1         Amendment No. 2 to Amended and Restated Credit Agreement

10.2         Amendment No. 3 to Amended and Restated Credit Agreement

27           Financial Data Schedule

(b)       REPORTS ON FORM 8-K

          None

                                     - 12 -


<PAGE>


                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.

                         AVIATION SALES COMPANY 

                         By: /s/ DALE S. BAKER                   August 14, 1997
                             ----------------------------
                             Dale S. Baker, President and
                             Chief Executive Officer

                         By: /s/ JOSEPH E. CIVILETTO             August 14, 1997
                             -----------------------------
                             Joseph E. Civiletto, Vice President
                             and Chief Financial Officer

                                     - 13 -


<PAGE>

                                 EXHIBITT INDEX


EXHIBIT                                                                PAGE
-------                                                                ----

10.1      Amendment No. 2 to Amended and Restated Credit Agreement      14

10.2      Amendment No. 3 to Amended and Restated Credit Agreement      18

27        Financial Data Schedule