<PAGE>






                                    FORM 8-K

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                 CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of
                       The Securities Exchange Act of 1934

       Date of Report (Date of earliest event reported): January 27, 2000
                                                         ----------------

                           Aerial Communications, Inc.
                           --------------------------
             (Exact name of registrant as specified in its charter)


   Delaware                   0-28262                  39-1706857
-------------                 -------                  -----------
(State or other             (Commission               (IRS Employer
jurisdiction of             File Number)              Identification No.)
incorporation)




   8410 West Bryn Mawr, Suite 1100, Chicago, Illinois              60631
-------------------------------------------------------           -------
         (Address of principal executive offices)                (Zip Code)

Registrant's telephone number, including area code:  (773) 399-4200


                                 Not Applicable
                                ----------------
          (Former name or former address, if changed since last report)








<PAGE>




Item 5.   Other Events.
          ------------

     On January 27, 2000, Aerial  Communications,  Inc. ("Aerial") announced its
fourth quarter 1999 and full year 1999 financial results.

         This  Current  Report  on Form 8-K is being  filed for the  purpose  of
filing the news release  issued by Aerial  relating to such  announcement  as an
exhibit.


Item 7.  Financial Statements and Exhibits
         ---------------------------------
( c)     Exhibits
         --------
         The exhibits  accompanying  this report are listed in the  accompanying
Exhibit Index.



                                                         2

<PAGE>





                                   SIGNATURES


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


Date:    January  28, 2000          AERIAL COMMUNICATIONS, INC.
                                    (Registrant)





                                   By: /s/ J. Clarke  Smith
                                   -------------------------
                                   J. Clarke Smith
                                   Vice President - Finance and Administration,
                                   Chief Financial Officer and Treasurer












                                                         3

<PAGE>




                                  EXHIBIT INDEX


Exhibit Number                      Description of Exhibit
--------------                      ----------------------
         99.1                       Aerial news release dated January 27, 2000.




                                                         4
[{"type": "8-K", "sequence": "1", "description": "FORM 8-K", "secsgml_size_bytes": 3182}]
{"company-data": {"conformed-name": "AERIAL COMMUNICATIONS INC", "cik": "0001008614", "assigned-sic": "4812", "irs-number": "391706857", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-28262", "film-number": "516206"}, "business-address": {"street1": "8410 WEST BRYN MAWR AVE", "street2": "STE 1100", "city": "CHICAGO", "state": "IL", "zip": "60631", "phone": "3123994200"}, "mail-address": {"street1": "8410 WEST BRYN MAWR AVE", "street2": "STE 1100", "city": "CHICAGO", "state": "IL", "zip": "60631-3486"}, "former-company": {"former-conformed-name": "AMERICAN PORTABLE TELECOM INC", "date-changed": "19960221"}}
FORM 8-K

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                 CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of
                       The Securities Exchange Act of 1934

       Date of Report (Date of earliest event reported): January 27, 2000
                                                         ----------------

                           Aerial Communications, Inc.
                           --------------------------
             (Exact name of registrant as specified in its charter)

   Delaware                   0-28262                  39-1706857
-------------                 -------                  -----------
(State or other             (Commission               (IRS Employer
jurisdiction of             File Number)              Identification No.)
incorporation)

   8410 West Bryn Mawr, Suite 1100, Chicago, Illinois              60631
-------------------------------------------------------           -------
         (Address of principal executive offices)                (Zip Code)

Registrant's telephone number, including area code:  (773) 399-4200

                                 Not Applicable
                                ----------------
          (Former name or former address, if changed since last report)
Item 5.   Other Events.
          ------------

     On January 27, 2000, Aerial  Communications,  Inc. ("Aerial") announced its
fourth quarter 1999 and full year 1999 financial results.

         This  Current  Report  on Form 8-K is being  filed for the  purpose  of
filing the news release  issued by Aerial  relating to such  announcement  as an
exhibit.

Item 7.  Financial Statements and Exhibits
         ---------------------------------
( c)     Exhibits
         --------
         The exhibits  accompanying  this report are listed in the  accompanying
Exhibit Index.

                                                         2
SIGNATURES

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

Date:    January  28, 2000          AERIAL COMMUNICATIONS, INC.
                                    (Registrant)

                                   By: /s/ J. Clarke  Smith
                                   -------------------------
                                   J. Clarke Smith
                                   Vice President - Finance and Administration,
                                   Chief Financial Officer and Treasurer

                                                         3
EXHIBIT INDEX

Exhibit Number                      Description of Exhibit
--------------                      ----------------------
         99.1                       Aerial news release dated January 27, 2000.

                                                         4