C&W 2

Sorry, the over all look is better than the last one- But.. The font is a little "law firm" to me. Definitely take the 3D treatment out of there. Like I said before- I'm not really up on my aviation logos, but I know wings have been done.
http://www.google.com/search?q=aviation+logos&hl=en&prmd=imvns&source=ln...
You need to really brainstorm to get something unique here. This is one of those where you need to get out the pad and pen and do like 50 sketches. Something will click.

In my HUMBLE opinion : )-

Definitely a step in the right direction from your last attempt. The type can be a seen as a bit "law-firm" as G13 mentioned, but from this logo I would assume that the aircraft you/the client sell are private jets. If that's the case then it works. If not then yeah it is a bit too stuffy.

As far as the symbol goes, wings and tails and airplane outlines have all been done in the aviation industry, but there is little to play with really for that market so I think coming up with something unique is not going to be easy. Applying a standard image in a unique way is probably the way to go. Lots of pencil sketches is certainly your best bet right now.

This is way better idea, and the whole composition looks well rounded. If some kind of 'aviation' symbol is a must have, this version will work.
There is, however, still some things you need to iron out:
1. Typography - serif font you chose is very elegant, small caps treatment works for me but you definitely need to get rid of that emboss effect. It will present a big problem in printed materials production, especially at small logo sizes.
2. Letter pairs kerning - you have a kerning problem in the main text and need to fix it. If you are not sure what 'kerning' is do a google search.
3. Color scheme - why did you choose black, yellow & red?
This is a bit unusual choice for 'aviation' company. I would definitely get rid of the yellow in ampersand (my choice would be to either keep it black like the rest of the text or make it gray).
Sometimes color scheme is clients choice and you cannot do much about it. Black and red works ok but if this color scheme is not 'given' you can explore other options.

In conclusion.... you made a good revision but you need to refine this further.

Agreeing with all the previous comments: law firm type, 3D nix, kerning, wings symbol issues...you might try going with a more asymmetrical layout to get away from typical symmetrical winged logos.

Now we are cooking. Looks more like a professional aviation company..Work a bit more on the font and the colors and you should be good.