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AIRLEASE LTD. ANNOUNCES 1992 RESULTS

 SAN FRANCISCO, Jan. 29 /PRNewswire/ -- Airlease Ltd., a California Limited Partnership (NYSE: FLY), reported today that its net income for 1992 was $5.7 million, or $1.21 per unit, down 23 percent from 1991's net income of $1.57 per unit. Total revenues for the year were $12.4 million, a decline of $1.7 million or 12 percent from 1991. Fourth quarter 1992 income was $1.4 million, a 20-percent decline from the prior year. Revenues for the 1992 fourth quarter were about 4 percent lower than the 1991 period.
 The partnership reported that the decline in revenues and earnings from the prior year reflected lower rental payments from a restructured lease agreement in 1991 and three off-lease aircraft which remain in inventory. These declines were partially offset by revenue from an aircraft placed in service in April and, in the third quarter, the receipt of one-time proceeds resulting from a settlement with an airline that filed for bankruptcy in 1989.
 Cash distributions declared for 1992 were $1.66 per unit, up 2 cents form the prior year. Since inception, the partnership has declared 25 consecutive cash distributions for a total of $13.19 per unit.
 The partnership presently owns interests ranging from 33 percent to 100 percent in 17 aircraft, of which 14 are on lease to four airlines.
 AIRLEASE LTD.
 A California Limited Partnership
 (Unaudited, in thousands except per unit amounts)
 For the years ended Dec. 31,
 1992 1991
 Revenues $12,375 $14,062
 Expenses 6,709 6,706
 Net income $ 5,666 $ 7,356
 Net income allocated to
 limited partners $ 5,609 $ 7,282
 Net income per limited
 partnership unit $ 1.21 $ 1.57
 Cash distributions declared $ 1.66 $ 1.64
 Total units outstanding 4,671,717 4,671,717
 For the quarters ended Dec. 31,
 1992 1991
 Revenues $ 3,128 $ 3,249
 Expenses 1,742 1,506
 Net income $ 1,386 $ 1,743
 Net income allocated to
 limited partners $ 1,372 $ 1,726
 Net income per limited
 partnership unit $ 0.30 $ 0.37
 Cash distributions declared $ 0.40 $ 0.42
 Total units outstanding 4,671,717 4,671,717
 -0- 1/29/93
 /CONTACT: Nancy Riess of Airlease, 415-627-9300/
 (FLY)


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

TM-SG -- SF010 -- 1022 01/29/93 19:25 EST
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Publication:PR Newswire
Date:Jan 29, 1993
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