Exhibit 99.2


   AEROSPACE PRODUCTS INTERNATIONAL IS AWARDED THIRD PARTY LOGISTICS CONTRACT


August 3, 2001 MEMPHIS, TN --- Aerospace Products International Inc. (API), the
fastest growing supplier of aerospace products and services and a subsidiary of
First Aviation Services, Inc. (NASDAQ: FAVS), announced today that it has been
awarded a long term contract to provide third party logistics services to
Superior Air Parts, Inc.

Superior Air Parts, Inc. is the world's largest supplier of FAA approved
replacement parts for Lycoming and Continental aircraft engines and is a leading
manufacturer for aftermarket and new replacement engines.

The third party logistics contract will include order processing and
fulfillment, warehousing activities, and Level I warranty administration for
Superior Air Parts' thirty-four distributors and twenty-four engine overhaul
shops worldwide.

According to Jerry Schlesinger, President and Chief Executive Officer of API and
Senior Vice President of First Aviation Services, "All of us at API are very
pleased to have been awarded this important long term third party logistics
service contract with Superior Air Parts. The award underscores First Aviation's
commitment to bringing efficiency to the aerospace supply chain. This supply
chain contract comes on the back of several contracts we have with one of the
world's major airfreight carriers. The company has worked hard to develop and
market its supply chain management services to the industry over the last 18
months and this award is highly gratifying."

First Aviation Services, Inc. (NASDAQ: FAVS), located in Westport, Connecticut
is a worldwide leader in providing services to aircraft operators of some of the
most widely used commercial and general aviation aircraft. Its operations
include API, which is based in Memphis, Tennessee, and is a leader in the supply
of aerospace products and services worldwide. In addition to the product lines
it distributes, API offers supply chain management services, overhaul and repair
services for brakes and starter/generators, and builds custom hose assemblies.
With locations in the U.S., Canada and Asia Pacific, plus partners throughout
the world, API continues to be the fastest growing supplier of aviation products
and inventory management solutions in the industry.



Contact:          John A. Marsalisi
                  Vice President & Chief Financial Officer
                  First Aviation Services Inc.
                  (203) 291-3303