EXHIBIT 99.1

                           FOR IMMEDIATE RELEASE

        KELLSTROM INDUSTRIES, INC. MISSES INTEREST PAYMENT AND AGREES TO
             DELISTING OF COMMON STOCK FROM NASDAQ NATIONAL MARKET

MIRAMAR, FL -- Dec. 17, 2001--Kellstrom Industries, Inc. (Nasdaq:KELLE)
announced today that it did not make the December 15, 2001 interest payment due
on its outstanding 5-1/2% Convertible Subordinated Notes due June 15, 2003.
Kellstrom's Senior Lenders are continuing to fund the Company's operations on an
interim basis and the Company is working on more permanent financing
arrangements. If the Company is unable to secure permanent financing, the
Company would be forced to adopt an alternative strategy that may include
actions such as restructuring its indebtedness, seeking additional capital,
selling assets or seeking protection under the bankruptcy laws.

Kellstrom has also announced that it expects its common stock will be delisted
from The Nasdaq National Market effective close of business on December 18,
2001. As previously reported, Kellstrom received a Nasdaq Staff Determination on
November 19, 2001 that its common stock was subject to delisting from The Nasdaq
National Market for failure to meet certain Nasdaq listing requirements.
Kellstrom has elected not to appeal the Nasdaq Staff Determination of delisting
as it has determined that it cannot meet such listing requirements at this time.
Kellstrom's common stock will trade on the Pink Sheets, a quotation service that
collects and redistributes market maker quotes in over-the-counter securities.

Kellstrom is a leading aviation inventory management company. Its principal
business is the purchasing, overhauling (through subcontractors), reselling and
leasing of aircraft parts, aircraft engines and engine parts. Headquartered in
Miramar, FL, Kellstrom specializes in providing: engines and engine parts for
large turbo fan engines manufactured by CFM International, General Electric,
Pratt & Whitney and Rolls Royce; aircraft parts and turbojet engines and engine
parts for large transport aircraft and helicopters; and aircraft components
including flight data recorders, electrical and mechanical equipment and radar
and navigation equipment.

Statements in this release may be forward-looking within the meaning of the
Private Securities Litigation Reform Act of 1995, including statements regarding
the Company's ability to secure permanent financing arrangements and the
Company's adoption of alternate strategies. These forward-looking statements are
based on many assumptions and factors, and are subject to many conditions,
including the ability to: pay the amounts due under the Company's credit
facilities and notes if such loans are accelerated since it does not currently
have the liquidity to pay the full amount of such loans; successfully refinance,
restructure and/or extend the maturity of the Company's existing credit
facilities; cure the events of default under its indentures and credit
facilities; continue to operate in the ordinary course and manage its
relationships with its creditors, lenders, note holders, vendors and suppliers,
employees and customers given the Company's financial condition; access
alternative sources of financing if it is unable to refinance, restructure
and/or renegotiate its credit facilities; limit the amount of time the Company's
management and officers devote to restructuring and exploring strategic
alternatives, in order to also allow them to run the business and implement its
business strategy and retain a number of its key senior managers and other
employees to implement the Company's business and financial strategy; establish
competitive pricing for its products; sell and market its products particularly
in light of the reduced demand for the Company's products due to the downturn in
the airframe and engine parts after-market, the impact of the September 11, 2001
terrorist acts, and the current difficulties facing the commercial aviation
industry and the general economy. Except for the historical information
contained in this press release, all forward-looking statements are estimates by
Kellstrom's management and are subject to various risks and uncertainties that
may be beyond its control and may cause results to differ from management's
current expectations. Certain of these risks are described above and in
Kellstrom's filings with the Securities and Exchange Commission (SEC), including
Kellstrom's annual and quarterly reports. Copies of Kellstrom's SEC filings are
available from the SEC or may be obtained upon request from Kellstrom. Kellstrom
does not undertake any obligation to update the information contained herein,
which speaks only as of this date.

CONTACT:

Kellstrom Industries, Inc.                 -or-     Kellstrom's IR Counsel
Oscar Torres, Chief Financial Officer               The Equity Group Inc.
(954) 538-2604                                      Linda Latman (212) 836-9609
www.kellstrom.com                                   Bob Goldstein (212) 371-8660
www.theequitygroup.com