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<TITLE>Pemco Aviation Group, Inc.</TITLE>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>


<P align="center"><FONT size="2">As filed with the Securities and Exchange Commission on July&nbsp;9, 2003
</FONT>


<P align="right"><FONT size="2">Registration No.&nbsp;333-
</FONT>

<HR size="1" noshade>





<P align="center"><FONT size="4"><B>SECURITIES AND EXCHANGE COMMISSION
</B></FONT>


<DIV align="center"><FONT size="3"><B>Washington, D.C. 20549</B>
</FONT></DIV>


<P align="center"><FONT size="5"><B>FORM S-8
</B></FONT>


<DIV align="center"><FONT size="3"><B>REGISTRATION STATEMENT<br>
UNDER<br>
THE SECURITIES ACT OF 1933</B>
</FONT></DIV>


<P align="center"><FONT size="6"><B>PEMCO AVIATION GROUP, INC.
</B></FONT>


<DIV align="center"><FONT size="2">(Exact name of Registrant as specified in its charter)
</FONT></DIV>

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    <TD width="50%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
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    <TD align="center" valign="top"><FONT size="2"><B>Delaware</B><BR>
(State or other jurisdiction<BR>
of incorporation or organization)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">
<B>84-0985295</B><BR>
(I.R.S. Employer<BR>
Identification No.)</FONT></TD>
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</TABLE>
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<P align="center"><FONT size="2"><B>1943 North 50<sup>th</sup> Street<BR>
Birmingham, Alabama 35212<BR>
(205)&nbsp;592-0011</B><BR>
(Address of principal executive offices, including zip code, and telephone number)
</FONT>


<P align="center"><FONT size="3"><B>PEMCO AVIATION GROUP, INC. NONQUALIFIED STOCK OPTION PLAN</B>
</FONT>


<DIV align="center"><FONT size="2">(Full title of the plan)
</FONT></DIV>

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    <TD width="3%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
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<TR valign="bottom">
    <TD align="center" valign="top"><FONT size="2"><B>RONALD A. ARAMINI</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">
Copies to:</FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><FONT size="2"><B>Pemco Aviation Group, Inc.<BR>
President and Chief Executive Officer<BR>
1943 North 50<sup>th</sup> Street<BR>
Birmingham, Alabama 35212<BR>
(205)&nbsp;592-0011</B><BR>
(Name, address, including zip code, and telephone number,<BR>
including area code, of agent for service)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">
<B>CRAIG M. GARNER, ESQ.<BR>
Latham &#038; Watkins LLP<BR>
12636 High Bluff Drive, Suite&nbsp;300<BR>
San Diego, California 92130<BR>
(858)&nbsp;523-5400</B></FONT></TD>
</TR>
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<P align="center"><FONT size="2"><B>CALCULATION OF REGISTRATION FEE</B>
</FONT>

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    <TD width="5%">&nbsp;</TD>
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    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR>
    <TD colspan="17" align="left"><DIV style="margin-left:10px; text-indent:-10px"><HR size="4" noshade></DIV></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Amount</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Proposed Maximum</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Proposed Maximum</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Amount of</B></FONT></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="center"><FONT size="1"><B>Title of Securities</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>to be</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Offering Price</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Aggregate Offering</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Registration</B></FONT></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="center"><FONT size="1"><B>to be Registered</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Registered(1)</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Per Share(2)</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Price(2)</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Fee</B></FONT></TD>
</TR>
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    <TD colspan="17" align="left"><DIV style="margin-left:10px; text-indent:-10px"><HR size="1" noshade></DIV></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Common Stock, $.0001 par value</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">500,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">23.78</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">11,890,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">961.91</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
    <TD colspan="17" align="left"><DIV style="margin-left:10px; text-indent:-10px"><HR size="4" noshade></DIV></TD>
</TR>
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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
    <TD width="1%" align="left" nowrap><FONT size="2">(1)</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="96%"><FONT size="2">Covers 500,000 additional shares of common stock available for issuance
under the Pemco Aviation Group, Inc. Nonqualified Stock Option Plan (the
Plan) pursuant to an amendment of the Plan approved by the stockholders
of Pemco Aviation Group, Inc. on May&nbsp;14, 2003. The Plan authorizes the
issuance of a maximum of 2,000,000 shares. However, the offer and sale
of 1,500,000 shares of common stock, which have been or may be issued
under the Plan, have previously been registered pursuant to Form&nbsp;S-8
Registration Statements File Nos. 33-34206, 33-79676, 333-30491,
333-82191 and 333-85114.</FONT></TD>
</TR>
<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
    <TD width="1%" align="left" nowrap><FONT size="2">(2)</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="96%"><FONT size="2">Pursuant to Rule&nbsp;457(h) the Proposed Maximum Offering Price Per Share
is based on the average of the high and low prices for Pemco Aviation
Group, Inc. common stock as reported on the Nasdaq National Market on
July&nbsp;3, 2003.</FONT></TD>
</TR>
</TABLE>
<P align="center"><FONT size="2">&nbsp;</FONT>

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<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

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<TR><TD></TD><TD colspan="8"><A HREF="#000">Item&nbsp;3. Incorporation of Documents by Reference.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">Item&nbsp;8. Exhibits.</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="a91354orexv5w1.txt">EXHIBIT 5.1</A></TD></TR>
<TR><TD colspan="9"><A HREF="a91354orexv23w1.txt">EXHIBIT 23.1</A></TD></TR>
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<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Registration Statement registers the offer and sale of an additional
500,000 shares of common stock of Pemco Aviation Group, Inc. (Pemco) for
issuance under the Pemco Aviation Group, Inc. Nonqualified Stock Option Plan
(the Plan). In accordance with Instruction E to Form&nbsp;S-8, the contents of the
prior Form&nbsp;S-8 Registration Statements File Nos. 33-79676, 333-30491, 333-82191
and 333-85114 are hereby incorporated by reference.
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;11(a) of the Securities Act of 1933, as amended, provides that if
any part of a registration statement at the time it becomes effective contains
an untrue statement of a material fact or an omission to state a material fact
required to be stated therein or necessary to make the statements therein not
misleading, any person acquiring a security pursuant to such registration
statement (unless it is proved that at the time of such acquisition such person
knew of such untruth or omission) may sue, among others, every accountant who
has consented to be named as having prepared or certified any part of the
registration statement or as having prepared or certified any report or
valuation which is used in connection with the registration statement with
respect to the statement in such registration statement, report or valuation
which purports to have been prepared or certified by the accountant.
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Although Pemco has dismissed Arthur Andersen LLP as its independent public
accountants and engaged Ernst &#038; Young LLP, Pemco&#146;s consolidated financial
statements for the fiscal year ended December&nbsp;31, 2001 and the fiscal year
ended December&nbsp;31, 2000 have only been audited by Arthur Andersen. On March&nbsp;14,
2002, Arthur Andersen was indicted on federal obstruction of justice charges
arising from the government&#146;s investigation of Enron Corporation. On June&nbsp;15,
2002, a jury in Houston, Texas found Arthur Andersen guilty of these federal
obstruction of justice charges. Pemco understands that Arthur Andersen was
sentenced to five years of probation and fined $500,000 on October&nbsp;16, 2002. In
light of the jury verdict and the underlying events, Arthur Andersen informed
the Securities and Exchange Commission (SEC)&nbsp;that it would cease practicing
before the SEC by August&nbsp;31, 2002, unless the SEC determined another date is
appropriate. A spokesperson for Arthur Andersen announced that, as of August
31, 2002, Arthur Andersen voluntarily relinquished, or consented to revocation
of, its firm permits in all states where it was licensed to practice public
accountancy with state regulators. A substantial number of Arthur Andersen&#146;s
personnel have already left the firm, including the individuals responsible for
auditing Pemco&#146;s audited financial statements incorporated by reference in this
Registration Statement. Because it is unlikely that Arthur Andersen will
survive, you are unlikely to be able to exercise effective remedies or collect
judgments against them.
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, Arthur Andersen has not consented to the incorporation by
reference of its audit report in this Registration Statement, and Pemco has
dispensed with the requirement to file its consent in reliance on Rule&nbsp;437a
under the Securities Act. Because Arthur Andersen has not consented to the
incorporation by reference of its audit report in this Registration Statement,
you may not be able to recover against Arthur Andersen under Section&nbsp;11(a) of
the Securities Act for any untrue statement of a material fact contained in the
financial statements audited by Arthur Andersen or any omissions to state a
material fact required to be stated in those financial statements.
</FONT>

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<DIV align="left"><A NAME="000"></A></DIV>

<P align="left"><FONT size="2"><B>Item&nbsp;3. Incorporation of Documents by Reference.</B>
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pemco hereby incorporates the following documents in this Registration Statement by reference:
</FONT>


<P>
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<TR valign="top">
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%" align="left" nowrap><FONT size="2">1.</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="93%"><FONT size="2">Annual Report on Form&nbsp;10-K for the fiscal year ended December
31, 2002 filed with the SEC on March&nbsp;12, 2003, as amended by
Amendment No.&nbsp;1 on Form&nbsp;10-K/A filed with the SEC on July&nbsp;8, 2003;</FONT></TD>
</TR>
<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%" align="left" nowrap><FONT size="2">2.</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="93%"><FONT size="2">Quarterly Report on Form&nbsp;10-Q for the quarterly period ended
March&nbsp;31, 2003 filed with the SEC on May&nbsp;13, 2003; and</FONT></TD>
</TR>
<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%" align="left" nowrap><FONT size="2">3.</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="93%"><FONT size="2">Description of Pemco&#146;s common stock contained in Registration
Statement on Form&nbsp;8-A, filed with the SEC on August&nbsp;26, 1985.</FONT></TD>
</TR>
</TABLE>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents filed by Pemco pursuant to Section&nbsp;13(a), 13(c), 14 or 15(d)
of the Securities Exchange Act of 1934, as amended, subsequent to the date this
Registration Statement is filed with the SEC and prior to the filing of a
post-effective amendment that indicates that all securities offered have been
sold or that deregisters all securities then remaining unsold shall be deemed
to be incorporated by reference in this Registration Statement and to be a
</FONT>

<P align="center"><FONT size="2">&nbsp;</FONT>

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<P align="left"><FONT size="2">part of it from the respective dates of filing of such documents. Any
statement contained in a document incorporated or deemed to be incorporated by
reference herein shall be deemed to be modified or superseded for purposes of
this Registration Statement to the extent that a statement contained herein or
in any other subsequently filed document that also is or is deemed to be
incorporated by reference herein modifies or supersedes such statement. Any
such statement so modified or superseded shall not be deemed, except as so
modified or superseded, to constitute a part of this Registration Statement.
</FONT>

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<DIV align="left"><A NAME="001"></A></DIV>

<P align="left"><FONT size="2"><B>Item&nbsp;8. Exhibits.</B>
</FONT>

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    <TD width="5%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
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<TR valign="bottom">
    <TD valign="top"><FONT size="2">5.1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Opinion of Latham &#038; Watkins LLP.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">10.1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Pemco Aviation Group, Inc. Nonqualified Stock Option Plan.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">23.1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Consent of Ernst &#038; Young LLP.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
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<TR valign="bottom">
    <TD valign="top"><FONT size="2">23.2</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Consent of Latham &#038; Watkins LLP.</FONT></TD>
</TR>
<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">24.1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Power of Attorney.</FONT></TD>
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<P align="left"><FONT size="2">Arthur Andersen has not consented to the inclusion or incorporation by
reference of its audit report in this Registration Statement, and Pemco has
dispensed with the requirement to file its consent in reliance on Rule&nbsp;437a
under the Securities Act.
</FONT>

<P align="center"><FONT size="2">&nbsp;</FONT>

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<DIV align="left"><A NAME="002"></A></DIV>

<P align="center"><FONT size="2"><B>SIGNATURES</B>
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, as amended,
Pemco certifies that it has reasonable grounds to believe that it meets all of
the requirements for filing on Form&nbsp;S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Birmingham, State of Alabama, on July&nbsp;9, 2003.
</FONT>

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    <TD width="46%">&nbsp;</TD>
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    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" valign="top" align="left"><FONT size="2">PEMCO AVIATION GROUP, INC.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
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    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
By:
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">/s/ Ronald A. Aramini
<HR align="left" size="1" width="65%" noshade>
Ronald A. Aramini<br>
President and Chief Executive Officer</FONT></TD>
</TR>
</TABLE>
</CENTER>

<P align="center"><FONT size="2"><B>POWER OF ATTORNEY</B>
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, as amended,
this Registration Statement has been signed by the following persons in the
capacities and on the dates indicated. Each person whose signature appears
below authorizes Ronald A. Aramini and John R. Lee, and either of them, with
full power of substitution and resubstitution, his true and lawful
attorneys-in-fact, for him in any and all capacities, to sign any amendments
(including post-effective amendments or supplements) to this Registration
Statement and to file the same, with exhibits thereto, and other documents in
connection therewith, with the SEC.
</FONT>

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    <TD width="43%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="32%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
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    <TD nowrap align="center"><FONT size="1"><B>Signature</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>Title</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>Date</B></FONT></TD>
</TR>
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    <TD nowrap align="center"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><HR size="1" noshade></TD>
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    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ Ronald A. Aramini
<HR size="1" noshade>
Ronald A. Aramini</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
President, Chief
Executive Officer
and Director
(Principal Executive
Officer)
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">July&nbsp;9, 2003</FONT></TD>
</TR>

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    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ John R. Lee
<HR size="1" noshade>
John R. Lee</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Senior Vice
President and Chief
Financial Officer
(Principal Financial
Officer and
Principal Accounting
Officer)
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">July&nbsp;9, 2003</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ Michael E. Tennenbaum
<HR size="1" noshade>
Michael E. Tennenbaum</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Chairman of the Board
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">July&nbsp;9, 2003</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ H.T. (&#147;Skip&#148;) Bowling
<HR size="1" noshade>
H.T. (&#147;Skip&#148;) Bowling</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">July&nbsp;9, 2003</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ Mark K. Holdsworth
<HR size="1" noshade>
Mark K. Holdsworth</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">July&nbsp;9, 2003</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
<TD valign="top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size="2">
<HR size="1" noshade>
Robert E. Joyal</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2"></FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ Thomas C. Richards
<HR size="1" noshade>
Thomas C. Richards</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">July&nbsp;9, 2003</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ Ronald W. Yates
<HR size="1" noshade>
Ronald W. Yates</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">July&nbsp;9, 2003</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2">&nbsp;</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<!-- link1 "EXHIBIT INDEX" -->
<DIV align="left"><A NAME="003"></A></DIV>

<P align="center"><FONT size="2"><B>EXHIBIT INDEX</B>
</FONT>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="center"><FONT size="1"><B>EXHIBIT</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="center"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">5.1(1)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Opinion of Latham &#038; Watkins LLP.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">10.1(2)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Pemco Aviation Group, Inc. Nonqualified Stock Option Plan.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">23.1(1)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Consent of Ernst &#038; Young LLP.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">23.2(1)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Consent of Latham &#038; Watkins LLP (included in Exhibit&nbsp;5.1 hereto).</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">24.1(1)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Power of Attorney (included on signature page hereto).</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="left"><FONT size="2">Arthur Andersen has not consented to the inclusion or incorporation by
reference of its audit report in this Registration Statement, and Pemco has
dispensed with the requirement to file its consent in reliance on Rule&nbsp;437a
under the Securities Act.
</FONT>


<P>
<HR size="1" width="18%" align="left" noshade>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
    <TD width="1%" align="left" nowrap><FONT size="2">(1)</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="96%"><FONT size="2">Filed herewith.</FONT></TD>
</TR>
<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
    <TD width="1%" align="left" nowrap><FONT size="2">(2)</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="96%"><FONT size="2">Previously filed with the SEC on April&nbsp;10, 2003 as Exhibit&nbsp;A to Pemco&#146;s
Proxy Statement for its 2003 Annual Meeting of Stockholders.</FONT></TD>
</TR>
</TABLE>


<P align="center"><FONT size="2">&nbsp;</FONT>



</BODY>
</HTML>
[{"type": "S-8", "sequence": "1", "filename": "a91354orsv8.htm", "description": "FORM S-8", "secsgml_size_bytes": 31685}]
{"company-data": {"conformed-name": "PEMCO AVIATION GROUP INC", "cik": "0000771729", "assigned-sic": "3721", "irs-number": "840985295", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-106902", "film-number": "03780030"}, "business-address": {"street1": "1943 NORTH 50TH STREET", "street2": "SUITE 1", "city": "BIRMINGHAM", "state": "AL", "zip": "35212", "phone": "2055920011"}, "former-company": [{"former-conformed-name": "PRECISION STANDARD INC", "date-changed": "19920703"}, {"former-conformed-name": "PR INK INC", "date-changed": "19870323"}]}
Pemco Aviation Group, Inc.
Table of Contents
As filed with the Securities and Exchange Commission on July 9, 2003
Registration No. 333-
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
PEMCO AVIATION GROUP, INC.
(Exact name of Registrant as specified in its charter)
Delaware
(State or other jurisdiction
of incorporation or organization)
84-0985295
(I.R.S. Employer
Identification No.)
1943 North 50
th
Street
Birmingham, Alabama 35212
(205) 592-0011
(Address of principal executive offices, including zip code, and telephone number)
PEMCO AVIATION GROUP, INC. NONQUALIFIED STOCK OPTION PLAN
(Full title of the plan)
RONALD A. ARAMINI
Copies to:
Pemco Aviation Group, Inc.
President and Chief Executive Officer
1943 North 50
th
Street
Birmingham, Alabama 35212
(205) 592-0011
(Name, address, including zip code, and telephone number,
including area code, of agent for service)
CRAIG M. GARNER, ESQ.
Latham & Watkins LLP
12636 High Bluff Drive, Suite 300
San Diego, California 92130
(858) 523-5400
CALCULATION OF REGISTRATION FEE
Amount
Proposed Maximum
Proposed Maximum
Amount of
Title of Securities
to be
Offering Price
Aggregate Offering
Registration
to be Registered
Registered(1)
Per Share(2)
Price(2)
Fee
Common Stock, $.0001 par value
500,000
$
23.78
$
11,890,000
$
961.91
(1)
Covers 500,000 additional shares of common stock available for issuance
under the Pemco Aviation Group, Inc. Nonqualified Stock Option Plan (the
Plan) pursuant to an amendment of the Plan approved by the stockholders
of Pemco Aviation Group, Inc. on May 14, 2003. The Plan authorizes the
issuance of a maximum of 2,000,000 shares. However, the offer and sale
of 1,500,000 shares of common stock, which have been or may be issued
under the Plan, have previously been registered pursuant to Form S-8
Registration Statements File Nos. 33-34206, 33-79676, 333-30491,
333-82191 and 333-85114.
(2)
Pursuant to Rule 457(h) the Proposed Maximum Offering Price Per Share
is based on the average of the high and low prices for Pemco Aviation
Group, Inc. common stock as reported on the Nasdaq National Market on
July 3, 2003.
TABLE OF CONTENTS
Item 3. Incorporation of Documents by Reference.
Item 8. Exhibits.
SIGNATURES
EXHIBIT INDEX
EXHIBIT 5.1
EXHIBIT 23.1
Table of Contents
This Registration Statement registers the offer and sale of an additional
500,000 shares of common stock of Pemco Aviation Group, Inc. (Pemco) for
issuance under the Pemco Aviation Group, Inc. Nonqualified Stock Option Plan
(the Plan). In accordance with Instruction E to Form S-8, the contents of the
prior Form S-8 Registration Statements File Nos. 33-79676, 333-30491, 333-82191
and 333-85114 are hereby incorporated by reference.
Section 11(a) of the Securities Act of 1933, as amended, provides that if
any part of a registration statement at the time it becomes effective contains
an untrue statement of a material fact or an omission to state a material fact
required to be stated therein or necessary to make the statements therein not
misleading, any person acquiring a security pursuant to such registration
statement (unless it is proved that at the time of such acquisition such person
knew of such untruth or omission) may sue, among others, every accountant who
has consented to be named as having prepared or certified any part of the
registration statement or as having prepared or certified any report or
valuation which is used in connection with the registration statement with
respect to the statement in such registration statement, report or valuation
which purports to have been prepared or certified by the accountant.
Although Pemco has dismissed Arthur Andersen LLP as its independent public
accountants and engaged Ernst & Young LLP, Pemco's consolidated financial
statements for the fiscal year ended December 31, 2001 and the fiscal year
ended December 31, 2000 have only been audited by Arthur Andersen. On March 14,
2002, Arthur Andersen was indicted on federal obstruction of justice charges
arising from the government's investigation of Enron Corporation. On June 15,
2002, a jury in Houston, Texas found Arthur Andersen guilty of these federal
obstruction of justice charges. Pemco understands that Arthur Andersen was
sentenced to five years of probation and fined $500,000 on October 16, 2002. In
light of the jury verdict and the underlying events, Arthur Andersen informed
the Securities and Exchange Commission (SEC) that it would cease practicing
before the SEC by August 31, 2002, unless the SEC determined another date is
appropriate. A spokesperson for Arthur Andersen announced that, as of August
31, 2002, Arthur Andersen voluntarily relinquished, or consented to revocation
of, its firm permits in all states where it was licensed to practice public
accountancy with state regulators. A substantial number of Arthur Andersen's
personnel have already left the firm, including the individuals responsible for
auditing Pemco's audited financial statements incorporated by reference in this
Registration Statement. Because it is unlikely that Arthur Andersen will
survive, you are unlikely to be able to exercise effective remedies or collect
judgments against them.
In addition, Arthur Andersen has not consented to the incorporation by
reference of its audit report in this Registration Statement, and Pemco has
dispensed with the requirement to file its consent in reliance on Rule 437a
under the Securities Act. Because Arthur Andersen has not consented to the
incorporation by reference of its audit report in this Registration Statement,
you may not be able to recover against Arthur Andersen under Section 11(a) of
the Securities Act for any untrue statement of a material fact contained in the
financial statements audited by Arthur Andersen or any omissions to state a
material fact required to be stated in those financial statements.
Item 3. Incorporation of Documents by Reference.
Pemco hereby incorporates the following documents in this Registration Statement by reference:
1.
Annual Report on Form 10-K for the fiscal year ended December
31, 2002 filed with the SEC on March 12, 2003, as amended by
Amendment No. 1 on Form 10-K/A filed with the SEC on July 8, 2003;
2.
Quarterly Report on Form 10-Q for the quarterly period ended
March 31, 2003 filed with the SEC on May 13, 2003; and
3.
Description of Pemco's common stock contained in Registration
Statement on Form 8-A, filed with the SEC on August 26, 1985.
All documents filed by Pemco pursuant to Section 13(a), 13(c), 14 or 15(d)
of the Securities Exchange Act of 1934, as amended, subsequent to the date this
Registration Statement is filed with the SEC and prior to the filing of a
post-effective amendment that indicates that all securities offered have been
sold or that deregisters all securities then remaining unsold shall be deemed
to be incorporated by reference in this Registration Statement and to be a
Table of Contents
part of it from the respective dates of filing of such documents. Any
statement contained in a document incorporated or deemed to be incorporated by
reference herein shall be deemed to be modified or superseded for purposes of
this Registration Statement to the extent that a statement contained herein or
in any other subsequently filed document that also is or is deemed to be
incorporated by reference herein modifies or supersedes such statement. Any
such statement so modified or superseded shall not be deemed, except as so
modified or superseded, to constitute a part of this Registration Statement.
Item 8. Exhibits.
5.1
Opinion of Latham & Watkins LLP.
10.1
Pemco Aviation Group, Inc. Nonqualified Stock Option Plan.
23.1
Consent of Ernst & Young LLP.
23.2
Consent of Latham & Watkins LLP.
24.1
Power of Attorney.
Arthur Andersen has not consented to the inclusion or incorporation by
reference of its audit report in this Registration Statement, and Pemco has
dispensed with the requirement to file its consent in reliance on Rule 437a
under the Securities Act.
Table of Contents
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended,
Pemco certifies that it has reasonable grounds to believe that it meets all of
the requirements for filing on Form S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Birmingham, State of Alabama, on July 9, 2003.
PEMCO AVIATION GROUP, INC.
By:
/s/ Ronald A. Aramini
Ronald A. Aramini
President and Chief Executive Officer
POWER OF ATTORNEY
Pursuant to the requirements of the Securities Act of 1933, as amended,
this Registration Statement has been signed by the following persons in the
capacities and on the dates indicated. Each person whose signature appears
below authorizes Ronald A. Aramini and John R. Lee, and either of them, with
full power of substitution and resubstitution, his true and lawful
attorneys-in-fact, for him in any and all capacities, to sign any amendments
(including post-effective amendments or supplements) to this Registration
Statement and to file the same, with exhibits thereto, and other documents in
connection therewith, with the SEC.
Signature
Title
Date
/s/ Ronald A. Aramini
Ronald A. Aramini
President, Chief
Executive Officer
and Director
(Principal Executive
Officer)
July 9, 2003
/s/ John R. Lee
John R. Lee
Senior Vice
President and Chief
Financial Officer
(Principal Financial
Officer and
Principal Accounting
Officer)
July 9, 2003
/s/ Michael E. Tennenbaum
Michael E. Tennenbaum
Chairman of the Board
July 9, 2003
/s/ H.T. ("Skip") Bowling
H.T. ("Skip") Bowling
Director
July 9, 2003
/s/ Mark K. Holdsworth
Mark K. Holdsworth
Director
July 9, 2003
Robert E. Joyal
Director
/s/ Thomas C. Richards
Thomas C. Richards
Director
July 9, 2003
/s/ Ronald W. Yates
Ronald W. Yates
Director
July 9, 2003
Table of Contents
EXHIBIT INDEX
EXHIBIT
5.1(1)
Opinion of Latham & Watkins LLP.
10.1(2)
Pemco Aviation Group, Inc. Nonqualified Stock Option Plan.
23.1(1)
Consent of Ernst & Young LLP.
23.2(1)
Consent of Latham & Watkins LLP (included in Exhibit 5.1 hereto).
24.1(1)
Power of Attorney (included on signature page hereto).
Arthur Andersen has not consented to the inclusion or incorporation by
reference of its audit report in this Registration Statement, and Pemco has
dispensed with the requirement to file its consent in reliance on Rule 437a
under the Securities Act.
(1)
Filed herewith.
(2)
Previously filed with the SEC on April 10, 2003 as Exhibit A to Pemco's
Proxy Statement for its 2003 Annual Meeting of Stockholders.