Exhibit 10.50

                                                                  EXECUTION COPY

                                PROMISSORY NOTE
                                ---------------

$9,300,000                                                  September 20, 2000

     Hawker Pacific Aerospace, a corporation organized under the laws of the
State of California and having its principal place of business at 11240 Sherman
Way, Sun Valley, California, 91352, (the "Company"), for value received,
promises to pay to Lufthansa Technik AG having its principal place of business
at Weg beim Jager 193D-22335 Hamburg, GERMANY or its assigns, in lawful money
of the United States, the principal sum of NINE MILLION THREE HUNDRED THOUSAND
DOLLARS ($9,300,000) and to pay interest on the unpaid principal balance thereof
at the rate set forth below, such principal and interest to be paid in
immediately available funds in U.S. Dollars within the term set forth below in
accordance with the Loan Agreement of even date herewith between the Company and
the Lender (the "Loan Agreement"). Capitalized terms used, but not otherwise
defined, herein shall have the respective meanings ascribed to such terms in the
Loan Agreement.

     The Company shall pay principal and interest at terms and the rates for the
corresponding periods as set forth below:

     (a)  On or before June 30 and December 31 in each calendar year during the
term of the Loan, the Company shall pay an amount of interest accruing to such
date at the rate provided herein on the outstanding principal balance under the
Loan. The first interest payment shall be due on September 19, 2001. The annual
interest rate shall be equal to the higher of (a) 10% per annum or (b) 5% per
annum plus USD LIBOR as published on the Effective Date which shall be
applicable for the first six months and USD LIBOR as published each six month
anniversary thereafter for each subsequent six month period, to the extent
permitted by Applicable Law; provided, however, the interest rate shall in no
event exceed 11%.

     (b)  The principal amount of the Loan shall be paid as follows: (a) on the
first anniversary of Effective Date, the Company shall make a payment to Lender
in the amount of $2,325,000 which represents 25% of the principal; (b) on the
second anniversary of the Effective Date, the Company shall make a payment to
Lender in the amount of $2,325,000 which represents 25% of the principal.

     (c)  On the third anniversary of the Effective Date, the Loan shall mature
and $4,650,000 (which represents the remaining 50% of the principal) together
with any accrued but unpaid interest hereunder, shall be due and payable in full
by the Company.

     Subject to Section 2.10 and Section 2.14 of the Loan with respect to
exercise of the Warrants, all payments shall be made to the Lender in
immediately available funds to Lender's account no. 40652003 with CITIBANK, New
York, swift code: citi us 33/ABA 021000089 or to such other account notified to
the Company not later than 7 days prior to the respective


obligation falling due. Subject to Section (a) above, interest shall be
calculated on a basis of the actual number of days elapsed and a 360 day year.

     All amounts payable by the Company under this Agreement shall be paid in
full without set-off or counterclaim or right of retention or other restrictions
and free and clear of and save to the extent required by law, without any
deduction or withholding for or on account of any taxes or charges or otherwise.

     If payments are not made on their due date, additional 1% per annum (one
percent per annum), calculated from the due date to the actual date of payment,
shall be due and payable to the Lender, to the extent permitted by Applicable
Law.

     This Note may be prepaid at any time in whole or in part, and from time to
time, without penalty or premium.

     This Note shall be subject to all terms and conditions of the Loan
Agreement between the parties, which Agreement is incorporated herein by
reference and made a part hereof.

     This Note shall be governed by and construed and enforced in accordance
with the laws of the State of California.

     The indebtedness evidenced hereby and all liens securing such indebtedness
are subordinated in the manner and to the extent set forth in that certain
Subordination Agreement (the "Subordination Agreement") dated as of September
20, 2000 among Lufthansa Technik AG, Hawker Pacific Aerospace, and Heller
Financial, Inc., to the Senior Debt (as defined in such Subordination
Agreement), and each lender hereunder, by its acceptance hereof, shall be bound
by the provisions of the Subordination Agreement.

     IN WITNESS WHEREOF, the Company has caused this Note to be duly executed as
an instrument under seal by its duly authorized officer on the day and year
first above written.

                                                  HAWKER PACIFIC AEROSPACE

                                                  By:    /s/ David L. Lokken

                                                  Name:  David L. Lokken

                                                  Title: CEO