UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
World Air Holdings, Inc.
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(Name of Issuer)
Common Stock, $.001 par value per share
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(Title of Class of Securities)
98142H105
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(CUSIP Number)
December 31, 2004
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[X] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter disclosure provided in a prior cover page.
The information required on the remainder of this cover page shall not
be deemed to be filed for the purpose of Section 18 of the Securities Exchange
Act of 1934, as amended ("Act"), or otherwise subject to the liabilities of that
section of the Act but shall be subject to all other provisions of the Act
(however, see the Notes).
Page 1 of 9 pages
CUSIP NO. 98142H105
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1. NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
American International Group, Inc.
I.R.S. Identification No. 13-2592361
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
Incorporated under the laws of the State of Delaware
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5. SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 1,984,062
EACH --------------------------------------------------
REPORTING 7. SOLE DISPOSITIVE POWER
PERSON 0
WITH --------------------------------------------------
8. SHARED DISPOSITIVE POWER
1,984,062
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,984,062
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES
[ ]
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11.73%
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12. TYPE OF REPORTING PERSON
CO
Page 2 of 9
CUSIP NO. 98142H105
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1. NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
National Union Fire Insurance Company of Pittsburgh, Pa.
I.R.S. Identification No. 25-0687550
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
Organized under the laws of the State of Pennsylvania
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5. SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 984,062
EACH --------------------------------------------------
REPORTING 7. SOLE DISPOSITIVE POWER
PERSON 0
WITH --------------------------------------------------
8. SHARED DISPOSITIVE POWER
984,062
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
984,062
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES
[ ]
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.8%
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12. TYPE OF REPORTING PERSON
IC
Page 3 of 9
CUSIP NO. 98142H105
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1. NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
International Lease Finance Corporation
I.R.S. Identification No. 22-3059110
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
Incorporated under the laws of the State of California
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5. SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 1,000,000
EACH --------------------------------------------------
REPORTING 7. SOLE DISPOSITIVE POWER
PERSON 0
WITH --------------------------------------------------
8. SHARED DISPOSITIVE POWER
1,000,000
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,000,000
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES
[ ]
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.3%
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12. TYPE OF REPORTING PERSON
CO
Page 4 of 9
ITEM 1 (a). NAME OF ISSUER:
World Air Holdings, Inc.
ITEM 1 (b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
The HLH Building
101 World Drive
Peachtree City, GA 30269
ITEM 2 (a). NAME OF PERSON(S) FILING:
American International Group, Inc.
National Union Fire Insurance Company of Pittsburgh, Pa.
International Lease Finance Corporation
ITEM 2 (b). ADDRESS OF PRINCIPAL BUSINESS OFFICE(S):
American International Group, Inc.
70 Pine Street
New York, New York 10270
National Union Fire Insurance Company of Pittsburgh, Pa.
70 Pine Street
New York, New York 10270
International Lease Finance Corporation
10250 Constellation Boulevard
34th Floor
Los Angeles, California 90067
ITEM 2 (c). CITIZENSHIP:
The information requested hereunder is set forth
under Item 4 of the cover pages to this Schedule 13G.
ITEM 2 (d). TITLE OF CLASS OF SECURITIES:
Common Stock, $.001 par value per share
ITEM 2 (e). CUSIP NUMBER: 98142H105
Page 5 of 9
ITEM 3. TYPE OF PERSONS FILING:
American International Group, Inc.:
Passive Investor pursuant to Rule 13d-1(c)
National Union Fire Insurance Company of Pittsburgh, Pa.:
(c) Insurance Company as defined in Section
3 (a) (19) of the Act
International Lease Finance Corporation:
Passive Investor pursuant to Rule 13d-1(c)
ITEM 4. OWNERSHIP.
(a) through (c). International Lease Finance Corporation,
a California corporation ("ILFC"), owns 1,000,000 shares
of the Common Stock, par value $0.001 per share ("Common
Stock"), of World Air Holdings, Inc. (the "Issuer")
received through the exercise of warrants granted by the
Issuer to ILFC pursuant to a Warrant Agreement, dated as
of August 24, 1999. National Union Fire Insurance Company
of Pittsburgh, PA ("National Union") is deemed to hold
984,062 shares of the Issuer's Common Stock as a result
of the beneficial ownership of the Issuer's Convertible
Debentures due 2009 through an account managed by Zazove
Associates, LLC. American International Group, Inc.
("AIG") is the ultimate parent company of both ILFC and
National Union. All other information requested hereunder
is set forth under Items 5 through 9 and Item 11 of the
cover pages to this Schedule 13G.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF CLASS.
Not applicable.
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF
ANOTHER PERSON.
Not applicable.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY
WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY
THE PARENT HOLDING COMPANY.
See Exhibit 1 attached hereto for the information
requested hereunder with respect to the relevant
subsidiaries of American International Group, Inc.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE
GROUP.
Not applicable.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
Not applicable.
Page 6 of 9
ITEM 10. CERTIFICATION.
(a) By signing below I certify that, to the best of my
knowledge and belief, the securities referred to above were acquired in the
ordinary course of business and were not acquired for the purpose of and do not
have the effect of changing or influencing the control of the issuer of such
securities and were not acquired in connection with or as a participant in any
transaction having such purpose or effect.
(b) By signing below I certify that, to the best of my
knowledge and belief, the securities referred to above were not acquired and
are not held for the purpose of or with the effect of changing or influencing
the control of the issuer of the securities and were not acquired and are not
held in connection with or as a participant in any transaction having that
purpose or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
Date: February 8, 2005
AMERICAN INTERNATIONAL GROUP, INC.
By /s/ Win J. Neuger
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Name: Win J. Neuger
Title: Executive Vice President and
Chief Investment Officer
NATIONAL UNION FIRE INSURANCE OF PITTSBURGH, PA.
By /s/ Win J. Neuger
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Name: Win J. Neuger
Title: Vice President
INTERNATIONAL LEASE FINANCE CORPORATION
By /s/ Alan H. Lund
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Name: Alan H. Lund
Title: Vice Chairman and
Chief Financial Officer
Page 7 of 9
EXHIBIT INDEX
Exhibit 1 Identification and Classification of the Subsidiaries Which
Acquired the Security Being Reported on by the Parent Holding
Company
Page 8 of 9