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                                                                    Exhibit 99.2


AVTEAM ANNOUNCES RECENT AGREEMENTS
January 24, 2001 08:32:00 AM ET

- -- WESTJET AIRLINES MRO SUPPLY AGREEMENT

- -- AMENDMENT OF CREDIT FACILITY

MIRAMAR, Fla., Jan. 24 /PRNewswire/ -- AVTEAM, Inc. AVTM, a global supplier of
aftermarket aircraft engines, engine parts, airframe components, and engine
repair and overhaul services to the aviation industry, today reported that it
has entered into an agreement with WestJet Airlines (TSE: WJA.TO) to be their
primary supplier of JT8D engine repair services.

Commenting on the agreement, Donald A. Graw, Chairman and Chief Executive
Officer, noted, "We're very excited that WestJet has selected AVTEAM as its
primary supplier for the next two years. WestJet, a premier Canadian airline,
has been our customer for the past year and I view this agreement as an
affirmation of our strong relationship and the excellent value that AVTEAM
provides. Potentially, this agreement should provide 30 to 40 engine repairs
over the next two years. Based upon scheduled removals indicated to AVTEAM, we
believe our business from WestJet in 2001 should increase significantly above
the 2000 level."

The Company also reported it has entered into a fourth amendment to its
revolving credit facility. Certain financial covenants that the Company
otherwise would have violated are waived through February 2, 2001. The amendment
further modifies interest payment dates from quarterly to monthly commencing
January 31, 2001. Graw noted, "We are currently negotiating with our Lenders to
restructure the credit facility for an additional term of six months effective
February 1, 2001 while we continue to pursue a strategic partner. I am
encouraged with our ongoing dialogue but there are no assurances the discussions
will be successful." The Company's credit facility currently is due to expire
April 30, 2001.

Mr. Graw noted that the Company continues to vigorously pursue a strategic
partner.

AVTEAM is a leader in the $20 billion worldwide aftermarket for commercial
aircraft engines, engine parts, airframe components and engine maintenance
services. The Company is an internationally recognized specialist in the
refurbishment of the Pratt & Whitney JT8D jet turbine engine, currently the most
widely flown engine in the world's commercial airline fleet. Recently, AVTEAM
has expanded its product line to include CFM56 and CF6 engine parts, and DC-9
and DC-10 airframe material, and received FAA certification to provide complete
maintenance, repair and overhaul services for the CFM56-2 and CFM56-3 engine
models. AVTEAM also offers equipment leasing, engine management and certain
on-wing maintenance services. In December 1998, the Company acquired
substantially all the assets and liabilities of M&M Aircraft Services, Inc., an
engine maintenance, repair and overhaul company based in Medley, Florida.

Except for the factual statements made herein, the information contained in this
press release contains certain "forward-looking statements" within the meaning
of the federal securities laws and are not guarantees of future performance.
"Forward looking statements" include statements that express, or involve
discussions as to expectations, beliefs, plans, objectives, assumptions or
future events or performance (often, but not always, through the use of words or
phrases, such as "will or should result," "are



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expected to," "will or should continue," "is anticipated," "plans," "intends,"
"estimated," "projection" and "outlook"). For a variety of reasons, the
Company's actual results could differ materially from any forward-looking
statements made in this press release. Among the factors that could cause actual
results to differ from predicted or expected results are the following: the
effects of increased indebtedness, interest rates and bank fees or a failure to
extend its existing credit facility, airline industry profitability, reduced
availability of funds for operations and expansion, the inability of the Company
to retain highly skilled employees, the loss of a major customer, the failure to
attract sufficient customers for its CFM56 repair services, difficulties in
executing the Company's plans to further expand CFM56 capability, the decline in
overall usage of the JT8D aircraft engine, increased fuel prices and interest
charges, a decline in the demand for aftermarket aircraft engines, engine parts
and airframe components, seasonal fluctuations, rescheduling or cancellation of
customer orders, which could materially adversely affect the Company's revenues;
the possibility that regulatory changes and unforeseen events could impact the
Company's ability to provide products and services to its customers; existing
competition from national and regional competitors, which could result in
pricing and other pressures on profitability and market share; and other risks,
investor considerations and uncertainties set forth in the Company's filings
with the Securities and Exchange Commission ("the Commission"), the Company's
Form 10-K for the year-ended December 31, 1999. Consequently, the reader is
cautioned to consider all forward-looking statements in light of the risks to
which they are subject.