Form: SC 13G/A

Statement of Beneficial Ownership by Certain Investors

SC 13G/A: Statement of Beneficial Ownership by Certain Investors

Published on


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549


SCHEDULE 13G
(RULE 13D-102)


INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
RULES 13D-1(b) (c), AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13D-2(b)
(AMENDMENT NO. 2)(1)


Deckers Outdoor Corporation
- --------------------------------------------------------------------------------
(Name of issuer)

COMMON STOCK, $.01 PAR VALUE
- --------------------------------------------------------------------------------
(Title of class of securities)

243537107
- --------------------------------------------------------------------------------
(CUSIP number)

December 31, 2006
- --------------------------------------------------------------------------------
(Date of event which requires filing of this statement)



Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)


(Continued on the following pages)

(Page 1 of 8 Pages)


- ----------------------
(1) 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 disclosures 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 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).




SCHEDULE 13G

CUSIP NO. 243537107 PAGE 2 OF 8 PAGES

- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS

PAR INVESTMENT PARTNERS, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY

- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION

STATE OF DELAWARE
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY 0 COMMON STOCK, $.01 PAR VALUE
OWNED BY EACH
REPORTING
PERSON
WITH
--------------------------------------------------------------
6 SHARED VOTING POWER

NONE
- --------------------------------------------------------------------------------
7 SOLE DISPOSITIVE POWER

0 COMMON STOCK, $.01 PAR VALUE
- --------------------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER

NONE
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

0 COMMON STOCK, $.01 PAR VALUE
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

0% COMMON STOCK, $.01 PAR VALUE
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *

PN
- --------------------------------------------------------------------------------

* SEE INSTRUCTIONS BEFORE FILLING OUT!




SCHEDULE 13G


CUSIP NO. 243537107 PAGE 3 OF 8 PAGES

- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS

PAR GROUP, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY

- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION

STATE OF DELAWARE
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY 0 COMMON STOCK, $.01 PAR VALUE
OWNED BY EACH
REPORTING
PERSON
WITH
--------------------------------------------------------------
6 SHARED VOTING POWER

NONE
- --------------------------------------------------------------------------------
7 SOLE DISPOSITIVE POWER

0 COMMON STOCK, $.01 PAR VALUE
- --------------------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER

NONE
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

0 COMMON STOCK, $.01 PAR VALUE
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

0% COMMON STOCK, $.01 PAR VALUE
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *

PN
- --------------------------------------------------------------------------------

* SEE INSTRUCTIONS BEFORE FILLING OUT!



SCHEDULE 13G

CUSIP NO. 243537107 PAGE 4 OF 8 PAGES

- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS

PAR CAPITAL MANAGEMENT, INC.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY

- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION

STATE OF DELAWARE
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY 0 COMMON STOCK, $.01 PAR VALUE
OWNED BY EACH
REPORTING
PERSON
WITH
--------------------------------------------------------------
6 SHARED VOTING POWER

NONE
- --------------------------------------------------------------------------------
7 SOLE DISPOSITIVE POWER

0 COMMON STOCK, $.01 PAR VALUE
- --------------------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER

NONE
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

0 COMMON STOCK, $.01 PAR VALUE
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

0% COMMON STOCK, $.01 PAR VALUE
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *

CO
- --------------------------------------------------------------------------------

* SEE INSTRUCTIONS BEFORE FILLING OUT!


STATEMENT ON SCHEDULE 13G


Item 1(a). Name of Issuer:

Deckers Outdoor Corp

Item 1(b). Address of Issuer's Principal Executive Offices:

495-A South Fairview Avenue
Goletta, CA 93117

Item 2(a). Names of Person Filing:

PAR Investment Partners, L.P.
PAR Group, L.P.
PAR Capital Management, Inc.

Item 2(b). Business Mailing Address for the Person Filing:

PAR Capital Management, Inc.
One International Place, Suite 2401
Boston, MA 02110

Item 2(c). Citizenship:

State of Delaware

Item 2(d). Title of Class of Securities:

COMMON STOCK, $.01 PAR VALUE

Item 2(e). CUSIP Number:

243537107

Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b),
check whether the person filing is a:

Not Applicable

Item 4. Ownership:

(a) Amount Beneficially Owned:
0 COMMON STOCK, $.01 PAR VALUE

(b) Percent of Class:
0% COMMON STOCK, $.01 PAR VALUE

(c) Number of shares as to which such person has:

(i) 0 COMMON STOCK, $.01 PAR VALUE

(ii) shared power to vote or to direct the vote:


Page 5 of 8


(iii) sole power to dispose or to direct the disposition of:
0 COMMON STOCK, $.01 PAR VALUE

(iv) shared power to dispose or to direct the disposition of:

Item 5. Ownership of Five Percent or Less of a Class:

If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial owner of more
than five percent of the class of securities, check the following [ x].

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:

Not Applicable

Item 8. Identification and Classification of Members of the Group:

Not Applicable

Item 9. Notice of Dissolution of Group:

Not Applicable

Item 10. Certification:

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.


Page 6 of 8

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.


Dated: February 14, 2007
PAR INVESTMENT PARTNERS, L.P.
By: PAR GROUP, L.P.
its general partner

By: PAR CAPITAL MANAGEMENT, INC.
its general partner

By: /s/ Gina DiMento
---------------------------------
Gina DiMento, Vice President


PAR GROUP, L.P.
By: PAR CAPITAL MANAGEMENT, INC.,
its general partner

By: /s/ Gina DiMento
---------------------------------
Gina DiMento, Vice President


PAR CAPITAL MANAGEMENT, INC.

By: /s/ Gina DiMento
---------------------------------
Gina DiMento, Vice President


Page 7 of 8




JOINT FILING AGREEMENT


In accordance with Rule 13d-1(k) under the Securities Exchange Act of
1934, as amended, the undersigned agree to the joint filing on behalf of each of
them of a statement on Schedule 13G (including amendments thereto) with respect
to the COMMON STOCK, $.01 PAR VALUE of Deckers Outdoor Corporation and further
agree that this agreement be included as an exhibit to such filing. Each party
to the agreement expressly authorizes each other party to file on its behalf any
and all amendments to such statement. Each party to this agreement agrees that
this joint filing agreement may be signed in counterparts.

In evidence whereof, the undersigned have caused this Agreement to be
executed on their behalf this 14th day of February, 2007.

PAR INVESTMENT PARTNERS, L.P.
By: PAR GROUP, L.P.
its general partner

By: PAR CAPITAL MANAGEMENT, INC.
its general partner

By: /s/Gina DiMento
---------------------------------
Gina DiMento, Vice President


PAR GROUP, L.P.
By: PAR CAPITAL MANAGEMENT, INC.,
its general partner

By: /s/Gina DiMento
---------------------------------
Gina DiMento, Vice President


PAR CAPITAL MANAGEMENT, INC.

By: /s/Gina DiMento
---------------------------------
Gina DiMento, Vice President


Page 8 of 8