8-K

                       SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C. 20549


                                    FORM 8-K


                                 CURRENT REPORT



                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934


Date of Report (Date of earliest event        January 7, 2002
reported)                                     ---------------------------------



                               ELECSYS CORPORATION
- --------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)


              KANSAS                     0-22760              48-1099142
- --------------------------------------------------------------------------------
   (State or other jurisdiction        (Commission           (IRS Employer
        of incorporation)               File Number)        Identification No.)


11300 West 89th Street, Overland Park, Kansas                    66214
- --------------------------------------------------------------------------------
       (Address of principal executive offices)               (Zip Code)



Registrant's telephone number, including               (913)-495-2614
area code                                   ------------------------------------



                                 Not applicable
- --------------------------------------------------------------------------------
         (Former name or former address, if changed since last report)

Item 5.       Other Events

On January 7, 2002, Elecsys Corporation announced collection of remaining
proceeds from the sale of Airport Systems International as set forth in the
attached press release.

Item 7.        Financial Statements and Exhibits.

      (c)   EXHIBIT.  The following exhibits are filed herewith:

      99.1        Press Release dated January 7, 2002.

                                    SIGNATURE


     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

      Date:  January 7, 2002
                                          ELECSYS CORPORATION


                                          By:  /s/ Thomas C. Cargin
                                              --------------------------------
                                             Thomas C. Cargin, Vice President
                                             of Finance and Administration,
                                             Secretary and Principal
                                             Accounting Officer

EX-99.1

                                                                Exhibit 99.1

                                        PRESS RELEASE
- ------------------------------------------------------------------------------------------------------------------------------------------------
15301 w. 109TH Street, Lenexa, KS  66219                      Phone: 913-647-0158                Fax:  913-982-5766
                                                                                                 investorrelations@elecsyscorp.com

January 7, 2002

FOR IMMEDIATE RELEASE:
Contact: Michael J. Meyer
Chairman
15301 W. 109th Street
Lenexa, Kansas 66219 USA
(913) 647-0158 o FAX (913) 982-5766

ELECSYS CORPORATION ANNOUNCES COLLECTION OF REMAINING PROCEEDS
FROM THE SALE OF AIRPORT SYSTEMS INTERNATIONAL
- -----------------------------------------------------------------------

Lenexa, Kansas. (January 7, 2002) - Elecsys Corporation (AMEX: ASY) today
announced that it had agreed with Alenia Marconi Systems (ASI) Inc., the buyer
of the assets of its Airport Systems International, Inc. subsidiary, on the
final purchase price pursuant to the Asset Purchase Agreement governing the
transaction that closed September 11, 2001 between the parties.

The agreement resulted in the cash payment to Elecsys of approximately $475,000
of additional consideration for the net assets sold. This amount will be
recognized as Gain on the Sale of Discontinued Operations in the third quarter
ending January 31, 2002, resulting in a net Gain on Sale of Discontinued
Operations on a year to date basis of approximately $184,000, and completes the
sale transaction between the parties.

Elecsys Corporation, through it's DCI subsidiary, provides specialized
electronic design, manufacturing and test services to original equipment
manufacturers (OEM's) and manufactures and imports custom liquid crystal display
(LCD) devices. The electronic assemblies it designs and manufactures, including
circuit board assemblies, electronic modules and full turn-key products, along
with the LCD's it manufactures or imports, are used in medical, aerospace,
industrial and consumer product applications. http://www.elecsyscorp.com/

The discussions set forth in this press release may contain forward-looking
comments based on current expectations that involve a number of risks and
uncertainties. Actual results could differ materially from those projected or
suggested in the forward-looking comments. The difference could be caused by a
number of factors, including, but not limited to the factors and conditions that
are described in Elecsys Corporation's SEC filings, including the Form 10-KSB
for the year ended April 30, 2001. The reader is cautioned that Elecsys
Corporation does not have a policy of updating or revising forward-looking
statements and thus he or she should not assume that silence by management of
Elecsys Corporation over time means that actual events are bearing out as
estimated in such forward-looking statements.