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

                                    FORM 8-K

                                 CURRENT REPORT
     Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

         Date of Report (Date of earliest event reported): July 24, 2005

                          Mooney Aerospace Group, Ltd.
             (Exact name of registrant as specified in its charter)

        Delaware                       0-21749                  95-4257380
----------------------------    ------------------------     -------------------
(State or other jurisdiction    (Commission File Number)       (IRS Employer
      of incorporation)                                      Identification No.)

                  165 Al Mooney Road North, Kerrville, TX 78028
              (Address of principal executive offices and Zip Code)

       Registrant's telephone number, including area code: (830) 896-6000

                                   Copies to:
                                 Marc Ross, Esq.
                              Yoel Goldfeder, Esq.
                       Sichenzia Ross Friedman Ference LLP
                           1065 Avenue of the Americas
                            New York, New York 10018
                              Phone: (212) 930-9700
                               Fax: (212) 930-9725

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

|_|   Written communications pursuant to Rule 425 under the Securities Act (17
      CFR 230.425)

|_|   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)

|_|   Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

|_|   Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))

<PAGE>

Item 5.02 Departure of Directors or Principal Officers; Election of Directors;
          Appointment of Principal Officers.

      At a meeting of the Board of Directors  of Mooney  Aerospace  Group,  Ltd.
(the  "Company"),  held on July 24, 2005, J. Nelson Happy  resigned as the Chief
Financial  Officer,  President,  Secretary  and Vice  Chairman  of the  Board of
Directors of the Company. Subsequent to the foregoing resignation, Gretchen Jahn
was  appointed as the Chief  Executive  Officer,  President  and a member of the
Board of Directors  of the Company and Barry  Hodkin was  appointed as the Chief
Financial Officer and Secretary of the Company.

      From March 2005 to the present,  Mr.  Hodkin has been the Chief  Financial
Officer of Mooney  Airplane  Company,  Inc.,  a wholly owned  subsidiary  of the
Company. From March 2004 to March 2005, Mr. Hodkin served as the Chief Operating
Officer of Mooney Airplane Company, Inc. In addition, from October 2002 to March
2004,  Mr.  Hodkin was the  President  and Chief  Financial  Officer of Strojkov
Engineering.  From March 2001 to October 2002, Mr. Hodkin was the Executive Vice
President and Chief  Financial  Officer of Superstav,  a construction  equipment
manufacturer.  From  February  2000 to March 2001,  Mr.  Hodkin was the Managing
Director and General Manager of Fermec International,  a construction  equipment
manufacturer.  Mr.  Hodkin  received  a B.A.  (with  honors) in  accounting  and
financial control from Lancaster University, Lancaster, England in 1977.

      From October 2004 to the  present,  Ms. Jahn has been the Chief  Executive
Officer of Mooney  Airplane  Company,  Inc.,  a wholly owned  subsidiary  of the
Company. From October 2003 to October 2004, Ms. Jahn served as the President and
as a member of the Board of Directors of Knotridge Corporation.  In August 1995,
Ms. Jahn founded Aegis Analytical Corporation, from August 1995 to October 2003,
Ms. Jahn served as the President,  Executive Vice President and Chief  Executive
Officer and from  August 1995 to March 2004,  Ms. Jahn served as a member of the
Board of Directors.  Ms. Jahn has  previously  been on the Board of Directors of
Air Race Classic,  Inc. Ms. Jahn received a B.A. in psychology  (cum laude) from
Lawrence University in 1973. Ms. Jahn received a M.A. in experimental psychology
from the University of Colorado in 1975.

Related Party Transactions

      Ms.  Jahn  leases an  airplane to the Company at the rate of $125 per hour
for an aggregate sum of approximately $7,000 paid to Ms. Jahn to date.



<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 hereunto duly authorized.

                                       Mooney Aerospace Group, Ltd.

Date: July 28, 2005                    /s/  Gretchen Jahn
                                       -----------------------------------------
                                       Gretchen Jahn
                                       Chief Executive Officer
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UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
     Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

         Date of Report (Date of earliest event reported): July 24, 2005

                          Mooney Aerospace Group, Ltd.
             (Exact name of registrant as specified in its charter)

        Delaware                       0-21749                  95-4257380
----------------------------    ------------------------     -------------------
(State or other jurisdiction    (Commission File Number)       (IRS Employer
      of incorporation)                                      Identification No.)

                  165 Al Mooney Road North, Kerrville, TX 78028
              (Address of principal executive offices and Zip Code)

       Registrant's telephone number, including area code: (830) 896-6000

                                   Copies to:
                                 Marc Ross, Esq.
                              Yoel Goldfeder, Esq.
                       Sichenzia Ross Friedman Ference LLP
                           1065 Avenue of the Americas
                            New York, New York 10018
                              Phone: (212) 930-9700
                               Fax: (212) 930-9725

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

|_|   Written communications pursuant to Rule 425 under the Securities Act (17
      CFR 230.425)

|_|   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)

|_|   Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

|_|   Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))
Item 5.02 Departure of Directors or Principal Officers; Election of Directors;
          Appointment of Principal Officers.

      At a meeting of the Board of Directors  of Mooney  Aerospace  Group,  Ltd.
(the  "Company"),  held on July 24, 2005, J. Nelson Happy  resigned as the Chief
Financial  Officer,  President,  Secretary  and Vice  Chairman  of the  Board of
Directors of the Company. Subsequent to the foregoing resignation, Gretchen Jahn
was  appointed as the Chief  Executive  Officer,  President  and a member of the
Board of Directors  of the Company and Barry  Hodkin was  appointed as the Chief
Financial Officer and Secretary of the Company.

      From March 2005 to the present,  Mr.  Hodkin has been the Chief  Financial
Officer of Mooney  Airplane  Company,  Inc.,  a wholly owned  subsidiary  of the
Company. From March 2004 to March 2005, Mr. Hodkin served as the Chief Operating
Officer of Mooney Airplane Company, Inc. In addition, from October 2002 to March
2004,  Mr.  Hodkin was the  President  and Chief  Financial  Officer of Strojkov
Engineering.  From March 2001 to October 2002, Mr. Hodkin was the Executive Vice
President and Chief  Financial  Officer of Superstav,  a construction  equipment
manufacturer.  From  February  2000 to March 2001,  Mr.  Hodkin was the Managing
Director and General Manager of Fermec International,  a construction  equipment
manufacturer.  Mr.  Hodkin  received  a B.A.  (with  honors) in  accounting  and
financial control from Lancaster University, Lancaster, England in 1977.

      From October 2004 to the  present,  Ms. Jahn has been the Chief  Executive
Officer of Mooney  Airplane  Company,  Inc.,  a wholly owned  subsidiary  of the
Company. From October 2003 to October 2004, Ms. Jahn served as the President and
as a member of the Board of Directors of Knotridge Corporation.  In August 1995,
Ms. Jahn founded Aegis Analytical Corporation, from August 1995 to October 2003,
Ms. Jahn served as the President,  Executive Vice President and Chief  Executive
Officer and from  August 1995 to March 2004,  Ms. Jahn served as a member of the
Board of Directors.  Ms. Jahn has  previously  been on the Board of Directors of
Air Race Classic,  Inc. Ms. Jahn received a B.A. in psychology  (cum laude) from
Lawrence University in 1973. Ms. Jahn received a M.A. in experimental psychology
from the University of Colorado in 1975.

Related Party Transactions

      Ms.  Jahn  leases an  airplane to the Company at the rate of $125 per hour
for an aggregate sum of approximately $7,000 paid to Ms. Jahn to date.
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 hereunto duly authorized.

                                       Mooney Aerospace Group, Ltd.

Date: July 28, 2005                    /s/  Gretchen Jahn
                                       -----------------------------------------
                                       Gretchen Jahn
                                       Chief Executive Officer