UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                             ----------------------

                                    FORM 10-Q

                             ----------------------




           _X_ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

                For the quarterly period ended September 30, 1996

                                       OR

           ___ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

                    For the transition period from ___ to ___

                             ----------------------

                          Commission File No. 33-31810

                             ----------------------



                        POLARIS AIRCRAFT INCOME FUND VI,
                        A California Limited Partnership

                        State of Organization: California
                   IRS Employer Identification No. 94-3102632
         201 Mission Street, 27th Floor, San Francisco, California 94105
                           Telephone - (415) 284-7400



Indicate  by check  mark  whether  the  registrant:  (1) has filed  all  reports
required to be filed by Section 13 or 15(d) of the  Securities  Exchange  Act of
1934 during the  preceding  12 months,  and (2) has been  subject to such filing
requirements for the past 90 days.



                          Yes _X_               No ___








                       This document consists of 12 pages.


<PAGE>



                        POLARIS AIRCRAFT INCOME FUND VI,
                        A California Limited Partnership

          FORM 10-Q - For the Quarterly Period Ended September 30, 1996




                                      INDEX



Part I.    Financial Information                                        Page

        Item 1.   Financial Statements

           a)  Balance Sheets - September 30, 1996 and
               December 31, 1995..........................................3

           b)  Statements of Operations - Three and Nine Months
               Ended September 30, 1996 and 1995..........................4

           c)  Statements of Changes in Partners' Capital -
               Year Ended December 31, 1995 and
               Nine Months Ended September 30, 1996.......................5

           d)  Statements of Cash Flows - Nine Months
               Ended September 30, 1996 and 1995..........................6

           e)  Notes to Financial Statements..............................7

        Item 2.   Management's Discussion and Analysis of
                  Financial Condition and Results of Operations...........9


Part II.       Other Information

        Item 1.   Legal Proceedings......................................10

        Item 5.   Other Information......................................11

        Item 6.   Exhibits and Reports on Form 8-K.......................11

        Signature........................................................12

                                        2

<PAGE>



                          Part 1. Financial Information
                          -----------------------------

Item 1.    Financial Statements

                        POLARIS AIRCRAFT INCOME FUND VI,
                        A California Limited Partnership

                                 BALANCE SHEETS
                                   (Unaudited)

                                                  September 30,    December 31,
                                                      1996             1995
                                                      ----             ----

ASSETS:

CASH AND CASH EQUIVALENTS                         $ 3,531,887      $ 3,297,782

RENT AND INTEREST RECEIVABLE                          375,954          467,025

AIRCRAFT, net of accumulated depreciation of
$14,706,200 in 1996 and $13,390,080 in 1995        14,733,000       16,049,120
                                                  -----------      -----------


                                                  $18,640,841      $19,813,927
                                                  ===========      ===========

LIABILITIES AND PARTNERS' CAPITAL:

PAYABLE TO AFFILIATES                             $    24,093      $    26,362

ACCOUNTS PAYABLE AND ACCRUED
  LIABILITIES                                          11,672           34,797

SECURITY DEPOSITS                                      75,000           94,000
                                                  -----------      -----------

        Total Liabilities                             110,765          155,159
                                                  -----------      -----------

PARTNERS' CAPITAL:
  General Partner                                       5,656            5,656
  Limited Partners, 69,418 units
     issued and outstanding                        18,524,420       19,653,112
                                                  -----------      -----------

        Total Partners' Capital                    18,530,076       19,658,768
                                                  -----------      -----------

                                                  $18,640,841      $19,813,927
                                                  ===========      ===========

        The accompanying notes are an integral part of these statements.

                                        3

<PAGE>



                                 POLARIS AIRCRAFT INCOME FUND VI,
                                 A California Limited Partnership

                                     STATEMENTS OF OPERATIONS
                                           (Unaudited)



                                    Three Months Ended       Nine Months Ended
                                       September 30,           September 30,
                                       -------------           -------------

                                     1996        1995         1996       1995
                                     ----        ----         ----       ----
REVENUES:
  Rent from operating leases     $  434,643  $  434,643   $1,303,929  $1,682,932
  Interest and other                 53,509      49,186      145,872     154,891
  Gain on sale of aircraft           18,811      33,224      162,754     144,437
                                 ----------  ----------   ----------  ----------

         Total Revenues             506,963     517,053    1,612,555   1,982,260
                                 ----------  ----------   ----------  ----------

EXPENSES:
  Depreciation and amortization     438,706     474,318    1,316,120   1,422,955
  Operating                            --           549         --           549
  Administration and other           17,924      24,004       55,035      72,499
                                 ----------  ----------   ----------  ----------

         Total Expenses             456,630     498,871    1,371,155   1,496,003
                                 ----------  ----------   ----------  ----------

NET INCOME                       $   50,333  $   18,182   $  241,400  $  486,257
                                 ==========  ==========   ==========  ==========

NET INCOME ALLOCATED TO
  THE GENERAL PARTNER            $   22,835  $   27,402   $   68,505  $   82,206
                                 ==========  ==========   ==========  ==========

NET INCOME (LOSS) ALLOCATED
  TO LIMITED PARTNERS            $   27,498  $   (9,220)  $  172,895  $  404,051
                                 ==========  ==========   ==========  ==========

NET INCOME (LOSS) PER LIMITED
  PARTNERSHIP UNIT               $     0.39  $    (0.13)  $     2.49  $     5.82
                                 ==========  ==========   ==========  ==========

        The accompanying notes are an integral part of these statements.

                                        4

<PAGE>



                        POLARIS AIRCRAFT INCOME FUND VI,
                        A California Limited Partnership

                   STATEMENTS OF CHANGES IN PARTNERS' CAPITAL
                                   (Unaudited)


                                         Year Ended December 31, 1995 and
                                       Nine Months Ended September 30, 1996
                                       ------------------------------------

                                      General         Limited
                                      Partner         Partners        Total
                                      -------         --------        -----


Balance, December 31, 1994         $      5,656    $ 23,280,997    $ 23,286,653

  Net income (loss)                     105,040      (1,632,117)     (1,527,077)

  Cash distributions to partners       (105,040)     (1,995,768)     (2,100,808)
                                   ------------    ------------    ------------

Balance, December 31, 1995                5,656      19,653,112      19,658,768

  Net income                             68,505         172,895         241,400

  Cash distributions to partners        (68,505)     (1,301,587)     (1,370,092)
                                   ------------    ------------    ------------

Balance, September 30, 1996        $      5,656    $ 18,524,420    $ 18,530,076
                                   ============    ============    ============

        The accompanying notes are an integral part of these statements.

                                        5

<PAGE>



                        POLARIS AIRCRAFT INCOME FUND VI,
                        A California Limited Partnership

                            STATEMENTS OF CASH FLOWS
                                   (Unaudited)

                                                 Nine Months Ended September 30,
                                                 -------------------------------

                                                        1996          1995
                                                        ----          ----
OPERATING ACTIVITIES:
  Net income                                        $   241,400   $   486,257
  Adjustments to reconcile net income to
     net cash provided by operating activities:
     Depreciation and amortization                    1,316,120     1,422,955
     Gain on sale of aircraft                          (162,754)     (144,437)
     Changes in operating assets and liabilities:
       Decrease in rent and interest receivable          91,071       262,201
       Decrease in payable to affiliates                 (2,269)      (14,414)
       Decrease in accounts payable
          and accrued liabilities                       (23,125)         (110)
       Decrease in security deposits                    (19,000)         --
                                                    -----------   -----------

         Net cash provided by operating activities    1,441,443     2,012,452
                                                    -----------   -----------

INVESTING ACTIVITIES:
  Principal payments on finance sale of aircraft        162,754       144,437
                                                    -----------   -----------

         Net cash provided by investing activities      162,754       144,437
                                                    -----------   -----------

FINANCING ACTIVITIES:
  Cash distributions to partners                     (1,370,092)   (1,644,111)
                                                    -----------   -----------

         Net cash used in financing activities       (1,370,092)   (1,644,111)
                                                    -----------   -----------

CHANGES IN CASH AND CASH
  EQUIVALENTS                                           234,105       512,778

CASH AND CASH EQUIVALENTS AT
  BEGINNING OF PERIOD                                 3,297,782     2,695,546
                                                    -----------   -----------

CASH AND CASH EQUIVALENTS AT
  END OF PERIOD                                     $ 3,531,887   $ 3,208,324
                                                    ===========   ===========


        The accompanying notes are an integral part of these statements.

                                        6

<PAGE>



                        POLARIS AIRCRAFT INCOME FUND VI,
                        A California Limited Partnership

                          NOTES TO FINANCIAL STATEMENTS
                                   (Unaudited)



1.      Accounting Principles and Policies

In the opinion of management,  the financial statements presented herein include
all  adjustments,  consisting  only of  normal  recurring  items,  necessary  to
summarize fairly Polaris Aircraft Income Fund VI's (the Partnership's) financial
position and results of operations.  The financial statements have been prepared
in accordance with the  instructions  of the Quarterly  Report to the Securities
and  Exchange  Commission  (SEC)  Form  10-Q  and  do  not  include  all  of the
information  and note  disclosures  required by  generally  accepted  accounting
principles.  These  statements  should be read in conjunction with the financial
statements  and notes  thereto for the years ended  December 31, 1995,  1994 and
1993,  included in the Partnership's  1995 Annual Report to the SEC on Form 10-K
(Form 10-K).

Aircraft and  Depreciation  - The aircraft are recorded at cost,  which includes
acquisition costs. Depreciation to an estimated residual value is computed using
the straight-line  method over the estimated economic life of the aircraft which
was  originally  estimated  to  be  30  years  from  the  date  of  manufacture.
Depreciation in the year of acquisition was calculated  based upon the number of
days that the aircraft were in service.

The Partnership periodically reviews the estimated realizability of the residual
values at the projected end of each aircraft's  economic life based on estimated
residual  values  obtained from  independent  parties which provide  current and
future estimated  aircraft values by aircraft type. For any downward  adjustment
in estimated  residual  value or decrease in the  projected  remaining  economic
life, the depreciation expense over the projected remaining economic life of the
aircraft is increased.

If the projected net cash flow for each aircraft (projected rental revenue,  net
of management fees, less projected maintenance costs, if any, plus the estimated
residual  value) is less than the carrying value of the aircraft,  an impairment
loss is  recognized.  Pursuant to Statement of  Financial  Accounting  Standards
(SFAS) No. 121, as discussed  below,  measurement of an impairment  loss will be
based on the "fair value" of the asset as defined in the statement.

Capitalized  Costs -  Aircraft  modification  and  maintenance  costs  which are
determined  to increase  the value or extend the useful life of the aircraft are
capitalized  and  amortized  using the  straight-line  method over the estimated
useful  life of the  improvement.  These  costs  are also  subject  to  periodic
evaluation as discussed above.

Financial  Accounting  Pronouncements  - SFAS No. 107,  "Disclosures  about Fair
Value of Financial  Instruments,"  requires the Partnership to disclose the fair
value of financial  instruments.  Cash and cash  equivalents  is stated at cost,
which approximates fair value.

The  Partnership  adopted  SFAS  No.  121,  "Accounting  for the  Impairment  of
Long-Lived Assets and for Long-Lived Assets to Be Disposed Of," as of January 1,
1996. This statement  requires that long-lived  assets and certain  identifiable
intangibles to be held and used by an entity be reviewed for impairment whenever
events or changes in circumstances indicate that the carrying amount of an asset
may not be recoverable.  The Partnership  estimates that this pronouncement will
not have a material impact on the Partnership's financial position or results of

                                                7

<PAGE>



operation unless events or  circumstances  change that would cause the projected
net  cash  flows to be  adjusted.  No  impairment  loss  was  recognized  by the
Partnership during the first three quarters of 1996.


2.      Lease to American Trans Air, Inc. (ATA)

As  discussed  in the Form 10-K,  under the ATA lease,  the  Partnership  may be
required to finance an aircraft  hushkit for use on the aircraft at an estimated
cost of  approximately  $2.6 million,  which would be partially  recovered  with
interest through payments from ATA over an extended lease term.


3.      Sale to Empresa de Transporte Aereo del Peru S.A. (Aeroperu)

In August  1993,  the  Partnership  negotiated a sale to Aeroperu for the Boeing
727-100 aircraft that was transferred to the Partnership  under the ATA lease as
discussed  in the Form 10-K.  The  Partnership  agreed to accept  payment of the
sales price of  approximately  $578,000 in 36 monthly  installments  of $19,000,
with  interest  at a rate of 12% per  annum.  The  Partnership  recorded  a note
receivable  and an  allowance  for credit  losses equal to the  discounted  sale
price. Gain on sale of aircraft was recognized as payments were received. During
the three and nine months ended September 30, 1996, the Partnership received all
principal and interest  payments due from  Aeroperu.  The  Partnership  recorded
$18,811 and  $162,754 as gain on sale in the  statement  of  operations  for the
three  and  nine  months  ended  September  30,  1996,  respectively.  The  note
receivable  and  corresponding  allowance  for credit losses were reduced by the
principal portion of payments received.  The balances of the note receivable and
corresponding  allowance for credit losses was $162,755 as of December 31, 1995.
In July 1996, the  Partnership  received the final payment due from Aeroperu and
the remaining  balance of the security deposit posted by Aeroperu was applied to
the last installment due from Aeroperu.


4.      Related Parties

Under the Limited Partnership  Agreement,  the Partnership paid or agreed to pay
the following  amounts for the current quarter to the general  partner,  Polaris
Investment  Management  Corporation,  in connection  with  services  rendered or
payments made on behalf of the Partnership:

                                         Payments for the
                                        Three Months Ended      Payable at
                                        September 30, 1996  September 30, 1996
                                        ------------------  ------------------
Out-of-Pocket Administrative and
   Operating Expense Reimbursement            $24,456            $24,093

Management  fees payable to the general  partner are  subordinated  each year to
receipt   by  unit   holders  of   distributions   equaling  a  10%  per  annum,
non-compounded  return on  adjusted  capital  contributions,  as  defined in the
Partnership Agreement.  Based on the subordination provisions, no management fee
expense was recognized or paid during the quarter ended September 30, 1996.






                                        8

<PAGE>



Item 2.  Management's Discussion and Analysis of Financial Condition and Results
         of Operations

Polaris  Aircraft  Income  Fund VI (the  Partnership)  owns one  Boeing  737-200
Advanced aircraft leased to British Airways Plc (British Airways) and one Boeing
727-200  Advanced  aircraft  leased to  American  Trans  Air,  Inc.  (ATA).  The
Partnership  sold  one  Boeing  727-100  aircraft  that ATA  transferred  to the
Partnership  as part of the ATA lease  transaction  in April 1993, to Empresa de
Transporte  Aereo del Peru  S.A.  (Aeroperu).  Aeroperu  completed  its  payment
obligations to the Partnership in July 1996.


Partnership Operations

The Partnership recorded net income of $50,333, or $0.39 per limited partnership
unit, for the three months ended  September 30, 1996,  compared to net income of
$18,182,  or an allocated  loss of $0.13 per unit,  for the same period in 1995.
The  Partnership  recorded  net  income  of  $241,400,   or  $2.49  per  limited
partnership unit, for the nine months ended September 30, 1996,  compared to net
income of $486,257, or $5.82 per unit, for the same period in 1995. Year to date
operating  results  reflect lower rental revenues as compared to the same period
in 1995.

As discussed  in the  Partnership's  1995 Annual  Report to the  Securities  and
Exchange Commission on Form 10-K (Form 10-K), the Partnership negotiated a lease
extension with British  Airways for three years from April 1995 until March 1998
at the then current fair market rental rate, which was  approximately 40% of the
prior rate. The Partnership  recognized a reduction in rental revenue  beginning
in the second  quarter  of 1995  which  negatively  impacted  the  Partnership's
operating results.


Liquidity and Cash Distributions

Liquidity -The Partnership  continues to receive all lease payments on a current
basis.  The ATA lease  specifies that the Partnership may be required to finance
an aircraft  hushkit at an estimated cost of approximately  $2.6 million,  which
would be partially  recovered  with interest  through  payments from ATA over an
extended  lease term.  The  Partnership's  cash  reserves are being  retained to
finance a portion of the cost that may be incurred  under the lease with ATA and
to cover other potential cash requirements.

Cash  Distributions - Cash  distributions  to limited  partners during the three
months ended  September  30, 1996 and 1995 were  $433,863,  or $6.25 per limited
partnership   unit  and   $520,635  or  $7.50  per  unit,   respectively.   Cash
distributions  to limited  partners  during the nine months ended  September 30,
1996 and 1995  were  $1,301,587,  or $18.75  per  limited  partnership  unit and
$1,561,905  or $22.50  per unit,  respectively.  The timing and amount of future
cash distributions  will depend upon the Partnership's  future cash requirements
and the receipt of rental payments from British Airways and ATA.

                                        9

<PAGE>



                           Part II. Other Information
                           --------------------------

Item 1.    Legal Proceedings

As  discussed  in Item 3 of Part I of  Polaris  Aircraft  Income  Fund VI's (the
Partnership) 1995 Annual Report to the Securities and Exchange  Commission (SEC)
on Form 10-K (Form 10-K) and in Item 1 of Part II of the Partnership's Quarterly
Report to the SEC on Form 10-Q (Form 10-Q) for the periods  ended March 31, 1996
and June 30, 1996,  there are a number of pending legal  actions or  proceedings
involving the Partnership. There have been no material developments with respect
to any such actions or proceedings during the period covered by this report.

Other Proceedings - Item 10 in Part III of the Partnership's  1995 Form 10-K and
Item 1 in Part II of the Partnership's Form 10-Q for the periods ended March 31,
1996 and June 30, 1996 discuss  certain  actions  which have been filed  against
Polaris Investment Management Corporation and others in connection with the sale
of interests in the Partnership and the management of the Partnership.  With the
exception of Novak,  et al v. Polaris  Holding  Company,  et al, (which has been
dismissed,  as discussed in Item 10 of the  Partnership's  1995 Form 10-K) where
the  Partnership  was  named  as  a  defendant  for  procedural  purposes,   the
Partnership is not a party to these actions.  Except as discussed  below,  there
have been no material developments during the period covered by this report with
respect  to  any  of  the  actions  described  in  Item  10 in  Part  III of the
Partnership's  1995  Form 10-K and Item 1 in Part II of the  Partnership's  Form
10-Q for the periods ended March 31, 1996 and June 30, 1996.

Wilson  et al. v.  Polaris  Holding  Company  et al. - On  October  1,  1996,  a
complaint  was filed in the Superior  Court of the State of  California  for the
County of Sacramento by over 500  individual  plaintiffs  who purchased  limited
partnership  units in one or more of Polaris Aircraft Income Funds I through VI.
The  complaint  names  Polaris  Holding   Company,   Polaris   Aircraft  Leasing
Corporation,  Polaris  Investment  Management  Corporation,  Polaris  Securities
Corporation,  Polaris Jet  Leasing,  Inc.,  Polaris  Technical  Services,  Inc.,
General  Electric  Company,  General Electric Capital  Services,  Inc.,  General
Electric Capital Corporation,  GE Capital Aviation Services, Inc. and DOES 1-100
as defendants.  The Partnership has not been named as a defendant. The complaint
alleges   violations   of  state   common  law,   including   fraud,   negligent
misrepresentation, negligence, breach of contract, and breach of fiduciary duty.
The complaint seeks to recover  compensatory  damages and punitive damages in an
unspecified amount, interest and rescission with respect to the Polaris Aircraft
Income Funds sold to plaintiffs.  Defendants time to answer or otherwise respond
to the complaint is November 18, 1996.

B&L  Industries,  Inc. et al. v. Polaris  Holding Company et al. - On August 16,
1996,  defendants filed a motion to dismiss plaintiffs'  amended complaint.  The
motion is returnable on January 16, 1997.

In re Prudential  Securities Inc. Limited  Partnerships  Litigation - The trial,
which was  scheduled  for November 11, 1996,  has not proceeded and no new trial
date has been set.




                                       10

<PAGE>



Item 5.    Other Information

James W.  Linnan  resigned  as  Director  and  President  of Polaris  Investment
Management Corporation effective December 31, 1996. Mr. Linnan's replacement has
not presently been named.  Mr. Linnan will continue to serve in those capacities
through the effective date of his resignation.



Item 6.    Exhibits and Reports on Form 8-K

a)      Exhibits (numbered in accordance with Item 601 of Regulation S-K)

        27.    Financial Data Schedule

b)      Reports on Form 8-K

        No reports on Form 8-K were filed by the  Registrant  during the quarter
        for which this report is filed.

                                       11

<PAGE>



                                    SIGNATURE



Pursuant to the  requirements of section 13 or 15(d) of the Securities  Exchange
Act of 1934,  the  Registrant  has duly  caused  this report to be signed on its
behalf by the undersigned thereunto duly authorized.

                                        POLARIS AIRCRAFT INCOME FUND VI,
                                        A California Limited Partnership
                                        (Registrant)
                                        By: Polaris Investment
                                            Management Corporation,
                                            General Partner




        November 12, 1996                  By:  /S/Marc A. Meiches
----------------------------------              ------------------
                                                Marc A. Meiches
                                                Chief Financial Officer
                                                (principal financial officer and
                                                principal accounting officer of
                                                Polaris Investment Management
                                                Corporation, General Partner of
                                                the Registrant)

                                       12