<ARTICLE> 5

<CIK>          0001004539
<NAME>         AIRPLANES LTD.
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          MAR-31-1998
<PERIOD-END>                               JUN-30-1998
<CASH>                                             217
<SECURITIES>                                         0
<RECEIVABLES>                                       23
<ALLOWANCES>                                        13
<INVENTORY>                                          0
<CURRENT-ASSETS>                                   226
<PP&E>                                           4,192
<DEPRECIATION>                                   1,219
<TOTAL-ASSETS>                                   3,243
<CURRENT-LIABILITIES>                              191
<BONDS>                                          3,589
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                             0
<OTHER-SE>                                     (1,187)
<TOTAL-LIABILITY-AND-EQUITY>                     3,243
<SALES>                                              0
<TOTAL-REVENUES>                                   147
<CGS>                                             (22)
<TOTAL-COSTS>                                       59
<OTHER-EXPENSES>                                     8
<LOSS-PROVISION>                                   (4)
<INTEREST-EXPENSE>                                  95
<INCOME-PRETAX>                                   (41)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                               (41)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                      (41)
<EPS-PRIMARY>                                        0
<EPS-DILUTED>                                        0