<ARTICLE> 5 <LEGEND> (Replace this text with the legend) </LEGEND> <CIK> 0000930832 <NAME> JETFLEET III <MULTIPLIER> 1 <CURRENCY> U.S. DOLLARS <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1999 <PERIOD-START> JAN-01-1999 <PERIOD-END> JUN-30-1999 <EXCHANGE-RATE> 1 <CASH> 3,780,740 <SECURITIES> 0 <RECEIVABLES> 63,790 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 3,844,530 <PP&E> 10,396,190 <DEPRECIATION> 1,472,290 <TOTAL-ASSETS> 13,765,710 <CURRENT-LIABILITIES> 914,370 <BONDS> 11,076,350 <PREFERRED-MANDATORY> 0 <PREFERRED> 1,661,450 <COMMON> 815,200 <OTHER-SE> (701,660) <TOTAL-LIABILITY-AND-EQUITY> 13,765,710 <SALES> 0 <TOTAL-REVENUES> 1,022,190 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 518,810 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 456,350 <INCOME-PRETAX> 47,030 <INCOME-TAX> 920 <INCOME-CONTINUING> 46,110 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 46,110 <EPS-BASIC> 0.06 <EPS-DILUTED> 0.06