SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  Schedule 13G

                    Under the Securities Exchange Act of 1934
                                 (Amendment No )


                               Triumph Group, Inc.
          ------------------------------------------------------------
                                (Name of Issuer)


                                  Common Stock
          ------------------------------------------------------------
                         (Title of Class of Securities)


                                   896818 10 1
                      ------------------------------------
                                 (CUSIP Number)


          ----

          Check the following box if a fee is being paid with this
          statement [X]. (A fee is not required only if the filing
          person: (1) has a previous statement on file reporting
          beneficial ownership of more than five percent of the 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.)

          *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 the
          disclosures provided in a prior cover page.

          The information required in 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).


                        (Continued on following page(s))

                                Page 1 of 6 Pages


<PAGE>

    CUSIP No. 896818 10 1                  13G                 Page 2 of 6 Pages

--------------------------------------------------------------------------------
  1    NAME OF REPORTING PERSON
       S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

                 Citicorp                  13-2614988

--------------------------------------------------------------------------------
  2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *

       (a)_______


       (b)_______

--------------------------------------------------------------------------------
 3    SEC USE ONLY

--------------------------------------------------------------------------------
 4    CITIZENSHIP OR PLACE OF ORGANIZATION

              Delaware

--------------------------------------------------------------------------------
                       5   SOLE VOTING POWER
     NUMBER OF
                                None
       SHARES
                     -----------------------------------------------------------
                       6   SHARED VOTING POWER
    BENEFICALLY
                                None
      OWNED BY
                     -----------------------------------------------------------
                       7   SOLE DISPOSITIVE POWER
        EACH
                                None
     REPORTING
                     -----------------------------------------------------------
                       8   SHARED DISPOSITIVE POWER
       PERSON
                                None
        WITH
--------------------------------------------------------------------------------
  9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

       None, except through its wholly-owned  subsidiary,  399 Venture Partners,
       Inc.

--------------------------------------------------------------------------------
  10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES *


--------------------------------------------------------------------------------
  11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

                See Line 9, above

--------------------------------------------------------------------------------
  12   TYPE OF REPORTING PERSON *

                 HC

--------------------------------------------------------------------------------
                      * SEE INSTRUCTION BEFORE FILLING OUT!

<PAGE>

    CUSIP No. 896818 10 1                  13G                 Page 3 of 6 Pages

--------------------------------------------------------------------------------
  1    NAME OF REPORTING PERSON
       S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

                 Citicorp Venture Capital Ltd.        13-2598089

--------------------------------------------------------------------------------
  2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *

       (a)_______


       (b)_______

--------------------------------------------------------------------------------
  3    SEC USE ONLY


--------------------------------------------------------------------------------
  4    CITIZENSHIP OR PLACE OF ORGANIZATION

              New York

--------------------------------------------------------------------------------
                       5   SOLE VOTING POWER
     NUMBER OF
                                920,573
       SHARES
                     -----------------------------------------------------------
                       6   SHARED VOTING POWER
    BENEFICALLY
                                None
      OWNED BY
                     -----------------------------------------------------------
                       7   SOLE DISPOSITIVE POWER
        EACH
                                920,573
     REPORTING
                     -----------------------------------------------------------
                       8   SHARED DISPOSITIVE POWER
       PERSON
                                None
        WITH
--------------------------------------------------------------------------------
  9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                       920,573

--------------------------------------------------------------------------------
  10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES *


--------------------------------------------------------------------------------
  11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

                        9.82%

--------------------------------------------------------------------------------
  12   TYPE OF REPORTING PERSON *

                  CO

--------------------------------------------------------------------------------
                      * SEE INSTRUCTION BEFORE FILLING OUT!

<PAGE>

                                                Page 4 of 6 Pages

  SCHEDULE 13G

  Item 1(a) Name of Issuer:                Triumph Group, Inc.

  Item 1(b) Address of Issuer's Principal  Four Glen Hardie Corp Center
                                           1255 Drummers Lane, Ste. 200
                                           Wayne, PA 19087

  Item 2(a) Names of Persons:              Citicorp    and   its    wholly-owned
                                           subsidiary, Citibank, N.A., and those
                                           subsidiaries checked below:

                                           [x]Citicorp  Venture  Capital Ltd., a
                                           wholly-owned  subsidiary of Citibank,
                                           N.A.

                                           [_]399  Venture  Partners,   Inc.,  a
                                           wholly-owned subsidiary of Citibank

  Item 2(b) Address of Principal
            Business Office:
                                           Citicorp
                                           Citibank, N.A.
                                           Citicorp Venture Capital Ltd.
                                           Citicorp Investments Inc.
                                           399 Park Avenue
                                           New York, N.Y. 10043

  Item 2(c) Citizenship:                   Citicorp: Delaware;
                                           Citibank, N.A.: A national banking
                                             association;
                                           Citicorp Venture Capital Ltd.: New
                                             York;
                                           399 Venture Partners Inc.: Delaware;

  Item 2(d) Title of Class of Securities:  Common Stock

  Item 2(e) CUSIP Number:                  896818 10 1

  Item 3 The persons filing this Schedule pursuant to either Rule 13d-1(b) or
  Rule 13d-2(b) are:

  Citicorp:                                (g) Parent Holding Company, in
                                           accordance with ss.240.13d-1 (b) (ii)
                                           (G).
  Citibank, N.A.:                          (b) Bank as defined in ss.3 (a)(6) of
                                           the Act;
  and those subsidiaries checked below:
  [_]Citicorp Venture Capital Ltd.:        Corporation.
  [x]399 Venture Partners Inc.:            Corporation.

<PAGE>

                                                Page 5 of 6 Pages


  Item 4   Ownership

           (a)   Total Amount Beneficially Owned:  920,573

           (b)   Percent of Class:                 9.82%

           (c)   Total Number of Shares as to which such persons have:

                 (i)   sole power to vote or to direct the vote
                       920,573
                       -------

                 (ii)  shared power to vote or to direct
                       None
                       -------

                 (iii) sole power to dispose or to direct
                       the disposition of
                       920,573
                       -------

                 (iv)  shared power to dispose or to
                       direct the disposition of
                       None
                       -------

  Item 5   Ownership of Five Percent or Less of a Class:

           [x] Not applicable.

           [_] This statement is being filed to report the fact that as of
               December 31, 1996, the reporting persons had ceased to be the
               beneficial owners of more than five percent of the securities
               described.

  Item 6   Ownership of More than Five Percent on Behalf of Another Person:
           None

  Item 7   Identification and Classification of the Subsidiary Which Acquired
           the Security Being Reported on by the Parent Holding Company:
           See Items 2(a) and 3.

  Item 8   Identification and Classification of Members of the Group:
           Not applicable.

  Item 9   Notice of Dissolution of Group:
           Not applicable.

<PAGE>

                                                Page 6 of 6 Pages

  ITEM 10  CERTIFICATION:  By signing  below I certify  that,  to the best of my
           knowledge and belief, the securities  referred to above were acquired
           in the  ordinary  course of business  and were not  acquired  for the
           purpose of and do not have the effect of changing or influencing  the
           control of the issuer of such  securities  and were not  acquired  in
           connection  with or as a participant in any  transaction  having such
           purposes or effect.  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.  NOTE:
           Signatures  below are for  Citicorp  and  Citibank,  N.A.,  and those
           subsidiaries  holding the issue,  indicated by check below.  All data
           shown is as of December 31, 1996.


            FEBRUARY 14, 1997             CITICORP
            -----------------
            DATE
                                          By /s/Patricia K. Perlman
                                            -----------------------------------
                                                Patricia K. Perlman
                                                Assistant Secretary, Citicorp

                                          CITIBANK, N.A.

                                          By /s/Patricia K. Perlman
                                            -----------------------------------
                                                Patricia K. Perlman
                                                Vice President, Citibank N.A.

                                          CITICORP VENTURE CAPITAL LTD.

                                          By /s/Helene B. Shavin
                                            -----------------------------------
                                                Helene B. Shavin
                                                 Assistant Vice President

                                          399 VENTURE PARTNERS, INC.

                                          By
                                            -----------------------------------
                                                Helene B. Shavin
                                                Assistant Vice President


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  Corporate Secretary