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AIRLEASE LTD. ANNOUNCES FOURTH QUARTER 1991 CASH DISTRIBUTION AND DISCUSSES PAN AMERICAN WORLD AIRWAYS BANKRUPTCY

 AIRLEASE LTD. ANNOUNCES FOURTH QUARTER 1991 CASH DISTRIBUTION
 AND DISCUSSES PAN AMERICAN WORLD AIRWAYS BANKRUPTCY
 SAN FRANCISCO, Dec. 13 /PRNewswire/ -- Airlease Ltd., a California Limited Partnership (NYSE: FLY) said today its directors approved a fourth quarter cash distribution of 42 cents per unit. The distribution will be payable Feb. 14, 1992 to unitholders of record on Dec. 31, 1991. The distribution reflects cash flow from operations which includes restructured rent and other expenses for certain aircraft on lease to airlines in the portfolio. The prior cash distribution for the 1991 third quarter was also 42 cents per unit.
 A spokesperson said the distribution reflects the Partnership's continued intent to distribute cash available from operations. While the present distribution reflects aircraft returned from Eastern and Pan Am, further changes to cash receipts could impact future distributions.
 On Dec. 4, 1991, Pan American World Airways ceased operations because it would not receive the financing proposed under its reorganization plan. The partnership has a 50 percent interest in two 727-200 advanced aircraft on lease to Pan Am, which represented 6 percent of total assets at Dec. 31, 1990. The partnership is in the process of recovering the aircraft and will take such action as it believes to be in the partnership's best interest.
 -0- 12/13/91
 /CONTACT: Nancy Riess, 415-627-9329, of Airlease Ltd./
 (FLY) CO: Airlease Ltd. ST: California IN: AIR SU:


DG -- SF006 -- 2382 12/13/91 12:54 EST
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Publication:PR Newswire
Date:Dec 13, 1991
Words:239
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