<ARTICLE> 5 <CIK> 0000930832 <NAME> JetFleet III <MULTIPLIER> 1 <CURRENCY> U.S. DOLLARS <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1999 <PERIOD-START> JAN-01-1999 <PERIOD-END> MAR-31-1999 <EXCHANGE-RATE> 1 <CASH> 3,230,990 <SECURITIES> 0 <RECEIVABLES> 34,150 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 3,265,140 <PP&E> 10,396,180 <DEPRECIATION> 1,340,270 <TOTAL-ASSETS> 13,375,300 <CURRENT-LIABILITIES> 476,500 <BONDS> 11,076,350 <PREFERRED-MANDATORY> 0 <PREFERRED> 1,661,450 <COMMON> 815,200 <OTHER-SE> (654,200) <TOTAL-LIABILITY-AND-EQUITY> 13,735,300 <SALES> 0 <TOTAL-REVENUES> 578,270 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 256,410 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 228,170 <INCOME-PRETAX> 93,690 <INCOME-TAX> 120 <INCOME-CONTINUING> 93,570 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 93,570 <EPS-PRIMARY> 0.11 <EPS-DILUTED> 0.11