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                                                                    Exhibit 23.5

                         INDEPENDENT AUDITORS' CONSENT


                                                        
To the Board of Directors
Of AerCo Limited (the "Company")

As independent public accountants, we hereby consent to the use of our report
dated December 2, 1997 and June 23, 1998 on the financial statements (as
restated) of Aircraft Lease Portfolio Securitization 94-1 Limited and Aerfi
Transferred Aircraft included in the Prospectus, which is part of this
Registration Statement, and to all references to our firm included in or
made a part of this Registration Statement of Form F-4 (file no. 333-66973) of
AerCo Limited.


/s/ Arthur Andersen

Arthur Andersen
Chartered Accountants
St Helier, Jersey

March 30, 1999