SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                   FORM 12B-25


                        COMMISSION FILE NUMBER 000-21749

                           NOTIFICATION OF LATE FILING

                                  (Check One):

                          [] Form 10-K and Form 10-KSB
                                  [ ] Form 11-K
                                  [ ] Form 20-F
                          [X] Form 10-Q and Form 10-QSB
                                 [ ] Form N-SAR

                        For Period Ended: June, 30, 2003

                       [ ] Transition Report on Form 10-K
                       [ ] Transition Report on Form 10-Q
                       [ ] Transition Report on Form 20-F
                       [ ] Transition Report on Form N-SAR
                       [ ] Transition Report on Form 11-K

                   For the Transition Period Ended: _________

     Nothing in this form shall be construed to imply that the Commission has
     verified any information contained herein.

     If the notification relates to a portion of the filing checked above,
     identify the item(s) to which the notification relates:







                         PART I. REGISTRANT INFORMATION.

              Full name of registrant: MOONEY AEROSPACE GROUP, LTD.

       Former name if applicable: ADVANCED AERODYNAMICS & STRUCTURES, INC.

                      Address of principal executive office
                   (Street and number): LOUIS SCHREINER FIELD

                  City, state and zip code: KERRVILLE, TX 78028


     PART II. RULE 12B-25 (B) AND (C)

     If the subject report could not be filed without unreasonable effort or
     expense and the registrant seeks relief pursuant to Rule 12b-25(b), the
     following should be completed. (Check appropriate box.)

     [X]  (a) The reasons described in reasonable detail in Part III of this
          form could not be eliminated without unreasonable effort or expense;

     [X]  (b) The subject annual report, semi-annual report, transition report
          on Form 10-K, Form 20-F, 11-K or Form N-SAR, or portion thereof will
          be filed on or before the 15th calendar day following the prescribed
          due date; or the subject quarterly report or transition report on Form
          10-Q, or portion thereof will be filed on or before the fifth calendar
          day following the prescribed due date; and

     [ ]  (c) The accountant's statement or other exhibit required by Rule
          12b-25(c) has been attached if applicable.

     PART III. NARRATIVE.

     State below in reasonable detail the reasons why Form 10-K, 11-K, 20-F,
     10-Q, N-SAR or the transition report portion thereof could not be filed
     within the prescribed time period. (Attach extra sheets if needed.)

     The Form 10-QSB for the period ended June 30, 2003 for Mooney Aerospace
     Group, LTD could not be filed within the prescribed period because the
     Company was unable to complete certain information critical to filing a
     timely and accurate report on the internal financial aspects of the
     Company. Such inability could not have been eliminated by the registrant
     without unreasonable effort or expense.












PART IV.     OTHER INFORMATION.

     (1)  Name and telephone number of person to contact in regard to this
          notification:

          J. Nelson Happy               (830)           896-6000
          ----------------------------------------------------------------
          (Name)                      (Area Code)     (Telephone Number)

     (2)  Have all other periodic reports required under Section 12 or 15(d) of
          the Securities Exchange Act of 1934 or Section 30 of the Investment
          Company Act of 1940 during the preceding 12 months or for such shorter
          period that the registrant was required to file such report(s) been
          filed? If the answer is no, identify report(s).

                  [ ] Yes                  [X]  No

     (3)  Is it anticipated that any significant change in results of operations
          from the corresponding period for the last fiscal year will be
          reflected by the earnings statements to be included in the subject
          report or portion thereof?

                  [ ] Yes                  [X]  No

     If so, attach an explanation of the anticipated change, both narratively
     and quantitatively, and, if appropriate, state the reasons why a reasonable
     estimate of the results cannot be made.




                           MOONEY AEROSPACE GROUP, LTD
                   ------------------------------------------
                  (NAME OF REGISTRANT AS SPECIFIED IN CHARTER)


     Has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.



Dated:  August 14, 2003                        By: /s/ J. Nelson Happy
                                               -----------------------------
                                               J. Nelson Happy
                                               President and Chief
                                               Executive Officer