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AIRLEASE ANNOUNCES INCREASED THIRD QUARTER RESULTS

 SAN FRANCISCO, Oct. 27 /PRNewswire/ -- Airlease Ltd. (NYSE: FLY), a California Limited Partnership today reported higher net income for the three- and nine-month periods ended Sept. 30, 1993.
 Net income for the 1993 third quarter was $1.8 million, an increase of 12 percent from last year's third quarter income of $1.6 million. Net income for the nine-month period ended Sept. 30, 1993, was $4.8 million, an increase of 13 percent from last year's nine-month net income of $4.3 million.
 Revenues for the 1993 third quarter were $3.2 million, slightly lower than last year's revenues which reflected the receipt of settlement proceeds from a bankrupt lessee. Revenues for the 1993 nine-month period were $9.6 million, an increase of 4 percent from the same 1992 period.
 Higher earnings for the three- and nine-month periods ended Sept. 30, 1993, result from the April 1992 lease of an MD-82 aircraft to Finnair OY and the re-lease in April 1993 of a 727-200 Advanced aircraft to Federal Express Corp. under a finance lease. (The partnership has exchanged its 50-percent interest in the two 727s for a 100-percent interest in one aircraft.)
 The third quarter cash distribution of 43 cents per unit was declared on Sept. 8, 1993, to unitholders of record on Sept. 30, 1993, payable Nov. 15, 1993. The distribution reflects a 7.5 percent increase from the prior quarter's cash distribution of 40 cents per unit.
 Three months Nine months
 ended Sept. 30, ended Sept. 30,
 (unaudited) (unaudited)
 1993 1992 1993 1992
 (000) (000) (000) (000)
 Revenues $3,234 $3,270 $9,638 $9,247
 Expenses 1,472 1,700 4,796 4,967
 Net income 1,762 1,570 4,842 4,280
 Net income allocated
 to limited partners 1,744 1,554 4,794 4,237
 Net income per limited
 partnership unit $ 0.38 $ 0.34 $ 1.04 $ 0.92
 Total units
 outstanding 4,671,717 4,671,717 4,671,717 4,671,717
 -0- 10/27/93
 /CONTACT: Nancy Riess of Airlease Ltd., 415-627-9300/
 (FLY)


CO: Airlease Ltd. ST: California IN: AUT SU: ERN

LW-TM -- SF026 -- 7626 10/27/93 20:54 EDT
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Publication:PR Newswire
Date:Oct 27, 1993
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