10-Q/A

		  SECURITIES AND EXCHANGE COMMISSION
		       Washington, D.C. 20549

			      FORM 10-Q/A



(Mark One)

[ X ]   QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE 
	SECURITIES EXCHANGE ACT OF 1934.

For the quarterly period ended August 31, 1995 or

[    ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE 
	SECURITIES EXCHANGE ACT OF 1934.

For the transition period from ________________ to __________________.

Commission file number          0-18352 


		 INTERNATIONAL AIRLINE SUPPORT GROUP, INC.       


   Delaware                                  59-2223025              
   (State or other jurisdication of         (IRS Employer Identification No.)
    incorporation or organization)


	 8095 NW 64th Street, Miami, FL                    33166           
   (Address of principal executive offices)               (Zip Code)


Registrant's telephone number, including aera code:     (305) 593-2658  


	Indicate by check mark whether the registrant (1) has filed all 
reports required to be filed by Section 13 or 15(d) of the Securities 
Exchange Act of 1934 during the preceding 12 months (or for shorter 
period that the registrant was required to file such reports), and (2) 
has been subject to such filing requirements for the past 90 days.  
		     
		     YES     X               NO    
			   -----                 -----

APPLICABLE ONLY TO CORPORATE ISSUERS:

	Indicate the number of shares outstanding of each of the issuer's 
classes of common stock, as of the latest practicable date.

	The number of shares of the Company's common stock outstanding as 
of September 25, 1995 was 4,041,779.   

 

INTERNATIONAL AIRLINE SUPPORT GROUP, INC. AND SUBSIDIARIES

PART II - OTHER INFORMATION

Item 1.  LEGAL PROCEEDINGS

	In July 1993, Viglass Aviation (Viglass) filed a complaint 
against the Company in the Circuit Court of the 11th Judicial Circuit in 
and for Dade County, Florida (Case No. 93-14256CA20), claiming that 
Viglass was entitled to payment of $681,750 under a commission agreement 
with the Company relating to the sale of certain aircraft to one of the 
Company's significant customers.  The Company disputes this claim, 
maintaining that the sale occurred outside the provisions of the 
commission agreement.  The Company filed a motion to hold the plaintiffs 
in contempt for failure to comply with discovery demands.  This motion 
remains in abeyance pending settlement negotiations between the parties.

	The Company is subject to other legal proceedings and claims which 
have arisen in the ordinary course of its business and which have not 
been finally adjudicated.  The actions, when ultimately concluded and 
determined, will not, in the opinion of management, have a material 
adverse affect upon the financial position of the Company.


Item 3.  DEFAULTS UPON SENIOR SECURITIES

	Currently, the Company is in default in the payment of principal 
on the 12% Senior Secured Notes and in default in the payment of 
interest on the 8% Convertible Subordinated Debentures.  The Notes are 
secured by substantially all of the assets of the Company and the 
Debentures are unsecured and are subordinated in right of payment to the 
Notes.


Item 6.  EXHIBITS AND REPORTS ON FORM 8-K

(a)     Exhibit 27      Financial Data Schedule

(b)     Reports on Form 8-K

	A report on Form 8-K dated July 17,1995 was filed by the Company 
during the quarter for which this report is filed.  The Form 8-K  
reported that the Company did not make its scheduled July 17, 1995 
principal payment in the amount of approximately $1.8 million to the 
holders of the Company's 12% Senior Secured Notes due July 17, 1997, 
noting that non-payment constituted an Event of Default under the 
underlying loan agreements and under the agreements relating to the 
Company's 8% Convertible Subordinated Debentures.  The report discussed 
that the Company has commenced meeting with lenders to discuss a 
preliminary restructuring proposal.


			       11
 

INTERNATIONAL AIRLINE SUPPORT GROUP, INC AND SUBSIDIARIES




SIGNATURES


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 thereunto duly authorized.



INTERNATIONAL AIRLINE SUPPORT GROUP, INC.
		(Registrant)


	   /S/                                          October 31, 1995 
- --------------------------                              -----------------      
ROBERT K. NORRIS                                        Date
Vice President-Finance  


			       12

EX-27

 

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