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

                               FORM 10-K

 X  Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange
 Act of 1934
For the fiscal year ended December 31, 1997

                                  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 number:  0-16838

                          JETSTREAM II, L.P.
         Exact name of registrant as specified in its charter


         Delaware                                     84-1068932
State or other jurisdiction of
incorporation or organization          I.R.S. Employer Identification No.

Attn: Andre Anderson,
3 World Financial Center, 29th Floor,
New York, New York                                      10285
Address of principal executive offices                 Zip Code

Registrant's telephone number, including area code:  (212) 526-3237

Securities registered pursuant to Section 12(b) of the Act:  None

Securities registered pursuant to Section 12(g) of the Act:

          LIMITED PARTNERSHIP DEPOSITARY UNITS (the "Units")
         LIMITED PARTNERSHIP INTERESTS (underlying the Units)
                            Title of Class

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 (or for shorter period that
the registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days.
                            Yes  X      No

Indicate by check mark if disclosure of delinquent filers pursuant to
Item 405 of Regulation S-K is not contained herein, and will not be
contained, to the best of the Registrant's knowledge, in definitive
proxy or information statements incorporated by reference in Part III
of this Form 10-K or any amendment to this Form 10-K.  [ X ]

State the aggregate market value of the voting stock held by non-affiliates
of the registrant:  Not applicable

                 DOCUMENTS INCORPORATED BY REFERENCE:

Prospectus of the registrant dated November 10, 1987, as filed pursuant
to rule 424(c) of the Securities Act of 1933, as amended, is
incorporated by reference in Parts I, II, III and IV of this Annual
Report on Form 10-K.

Annual Report to Unitholders for the year ended December 31, 1997
(Portions of Parts I, II, III & IV).



                                PART I

Item 1.  Business

General
JetStream II, L.P. (the "Partnership") is a limited partnership
organized under the laws of the State of Delaware on October 15, 1987.
The general partners of the Partnership (the "General Partners") are
CIS Aircraft Partners, Inc., the Managing General Partner ("CAP"), a
Delaware corporation that is an affiliate of Continental Information
Systems Corporation, and Jet Aircraft Leasing Inc., the Administrative
General Partner, a Delaware corporation that is an affiliate of Lehman
Brothers Inc. ("Lehman") (See Item 10).

Although the Partnership was organized on October 15, 1987, the
Partnership conducted no activities and recognized no revenues, profits
or losses prior to January 14, 1988, at which time the Partnership
commenced operations.  During the period between January 15, 1988
and February 25, 1988 the Partnership acquired for cash nine
used commercial aircraft (together, the "Aircraft").  As of December
31, 1997, the Partnership had six of the nine original Aircraft
remaining in its portfolio.  For a description of the investments in
the Aircraft, please refer to the Message to Investors and Note 4 to
the Financial Statements of the Partnership's Annual Report to
Unitholders for the year ended December 31, 1997, which is filed as an
exhibit under Item 14 and incorporated herein by reference.

On November 10, 1987, the Partnership commenced an offering (the
"Offering") on a "best efforts basis" of $96,750,000 of limited
partnership depositary units ("Units").  The closing of the offering
occurred on February 24, 1988, with a total of 4,837,505 Units being sold
at a price of $20.00 per Unit, for a total of approximately $96,750,000.
The net proceeds of the offering after payment of offering and
organization costs and acquisition fees aggregated $85,938,000.

Narrative Description of Business
The Partnership is engaged in the business of managing a portfolio of
used commercial aircraft subject to triple net operating leases with
commercial air carriers.  The Partnership is required to dissolve and
distribute all of its assets not later than December 31, 2027.  The
Partnership may reinvest the proceeds of sales of Aircraft occurring
prior to February 24, 1999; thereafter, the net proceeds of sales of
Aircraft will be distributed to the partners, after deductions of
amounts necessary for working capital and certain reserves.

The Partnership's investment objectives are to:

    (1) generate quarterly cash distributions to holders of Units
        (the "Unitholders"), substantially tax-sheltered during the
        initial years of the Partnership's operations, initially at a
        rate of approximately 12%, subject to conditions stated in the
        prospectus pursuant to which the Units were offered and sold
        (the "Prospectus"), dated November 10, 1987;

    (2) preserve and protect the value of the Partnership's assets.

The following tables describe the Partnership's portfolio of Aircraft
as of December 31, 1997.  These tables provide certain operational
statistics and estimated market values for the Aircraft in the
portfolio.  The estimated market values of the Aircraft are affected
by, and subject to, future changes in a variety of factors, including,
but not limited to, the Aircraft's usage, age and lease rate, the
credit worthiness of the lessee, government maintenance and noise
regulations and the supply and demand of aircraft in the market place
with similar lift capacity.  Reference is made to Item 7 - Management's
Discussion and Analysis of Financial Condition and Results of Operations
of this Form 10-K, and the Message to Investors and Note 4 to the
Financial Statements of the Partnership's Annual Report to Unitholders
for the year ended December 31, 1997 for additional information on the
lease terms for each Aircraft.  Reference is also made to the Message
to Investors section of the Partnership's Annual Report to Unitholders
for the year ended December 31, 1997 for an overview of the aircraft
leasing industry.



                                                            Estimated
Aircraft Model               Acquisition     Net Book          Market
Year Delivered  Lessee              Cost (1)    Value (2)       Value (3)

B-727-200       Boeing        $5,451,231           $0      $1,280,200
   1969          Capital

DC-9-30         Northwest     $7,230,460     $693,993      $3,174,000
  1968

DC-9-30         Northwest     $7,230,460     $693,993      $3,174,000
  1970

DC-9-30         Northwest     $7,230,461     $693,993      $3,296,000
  1970

B-737-200 ADV   Delta        $14,380,390   $2,002,208      $4,284,600
  1979

MD-80 Series    Continental  $27,313,020   $6,874,858     $15,925,700
  1986

TOTALS                       $68,836,022  $10,959,038     $31,134,300


                                                  Cumulative     Cumulative
Aircraft Model         Lease             Noise        Flight         Flight
Year Delivered    Expiration (4)    Compliance        Cycles (5)     Cycles (5)

B-727-200           10/31/99           Stage 2        46,270         69,140
  1969

DC-9-30              1/31/07           Stage 2        60,830         64,400
  1968

DC-9-30              1/31/07           Stage 2        73,370         76,600
  1970

DC-9-30              4/21/07           Stage 2        64,700         61,600
  1970

B-737-200 ADV        9/30/99           Stage 2        37,650         56,980
  1979

MD-80 Series         3/15/99           Stage 3        16,870         31,520
  1986


NOTES:

(1)Includes a 1.5% fee paid to the Managing General Partner at the acquisition
   of the Aircraft.  Totals do not include aircraft which have been sold.

(2)As of December 31, 1997.

(3)Estimated market values for the Aircraft are based upon annual independent
   appraisals which are subject to a variety of assumptions.  Additionally,
   there can be no assurance that the Partnership would receive an amount
   equal to the market value shown above upon the sale of any of the Aircraft.

(4)Lease expiration dates do not include renewal options.

(5)Northwest data as of February 2, 1998; Boeing Capital data as of
   March 6, 1998; Continental data as of March 9, 1998; and Delta data as
   of March 12, 1998.

Aging Aircraft Maintenance - The Federal Aviation Administration (the "FAA"),
acting on recommendations from industry trade groups, has adopted a series of
Airworthiness Directives ("AD's") for certain Boeing and McDonnell Douglas
aircraft models.  AD's are mandates requiring the airline to perform a specific
maintenance task within a specified period of time.  The FAA imposes strict
requirements governing aircraft inspection and certification, maintenance,
equipment requirements, corrosion control, noise levels and general operating
and flight rules.  In addition to mandating more intensive inspections of
certain structural components, including the fuselage, wing and tail sections,
certain of these AD's mandate that structural modifications to certain aircraft
be completed within specified periods, generally not less than 48 months from
the effective date of the relevant AD. Aircraft are generally subject to these
structural modification requirements based on flight cycle, flight hour and
chronological age thresholds.

The Partnership's B-727-200 non-advanced aircraft, which is currently on-lease
to Boeing Capital Corp., is subject to AD's mandating structural modification.
AD's presently applicable to the Boeing aircraft owned by the Partnership
require extensive repetitive inspections of such aircraft.  There can be no
assurance that such inspections will not lead to mandatory structural
modifications similar to those noted above.

The Partnership's existing leases require the lessees to maintain the
Partnership's Aircraft in accordance with FAA approved maintenance programs
during the lease term.  At the end of the leases, each lessee is required to
return the Aircraft in airworthy condition, including compliance with all AD's
for which action is mandated by the FAA during the lease term.  Thus, certain
of the modifications required by the new AD's may not be effected by the
Partnership's lessees prior to the expiration of the current leases since,
in many cases, the relevant AD will not require action before the expiration of
the lease term.

In negotiating future leases or in selling aircraft now owned by the
Partnership, the Partnership may be required to bear some or all of the costs
of compliance with future AD's or AD's that have been issued but which did not
mandate action during the previous lessee's lease term or in respect of which
the previous lessee failed to comply.  The aggregate effect on the Partnership
of compliance with these standards is not determinable at this time and will
depend upon a variety of factors, including, but not limited to, the state of
the commercial aircraft market, the extent of the AD, the availability of
capable repair facilities and the effect, if any, that such compliance may
have on the service lives of the affected aircraft.  As described above, the
cost to the Partnership of such compliance may be reduced to the extent that
current or future lessees of the Partnership's Aircraft effect such
modifications under the terms of the current or future operating leases.

Aircraft Noise - Beginning in 1985, the FAA and various airport industry task
forces released reports suggesting various alternatives for reducing the number
of Stage 2 aircraft operating in the United States, including a proposed
requirement to bring all aircraft operating in the United States into
compliance with Stage 3 requirements in the 1990s or shortly thereafter.
The FAA has categorized aircraft types according to engine noise decibel
levels.  Stage 1 aircraft, which have the highest noise level, are no longer
allowed to operate from civil airports in the United States.  Stage 2 aircraft
meet current FAA requirements.  Stage 3 aircraft are the most quiet and will
be the future standard of all aircraft.  Only one of the Aircraft owned by the
Partnership is Stage 3, the remainder are Stage 2 aircraft.  However, in
connection with lease extensions executed with Northwest in August 1996, each
of the Partnership's three DC-9-30 aircraft on-lease to Northwest will be
hushkitted, which, as discussed below, entails upgrading the current engines to
comply with Stage 3 noise requirements.  Northwest has agreed to fund the cost
of the hushkitting and, in turn, will be entitled to 50% of the proceeds from
the eventual sale of the aircraft.

Effective November 6, 1990, Congress passed the Airport Noise and Capacity Act
of 1990 (the "Act") which required the development of a National Noise Policy.
On September 25, 1991, final regulations (the "Regulations") were announced
and became effective immediately.  The Regulations provide, among other things,
phase-out and non-addition rules under which the number of Stage 2 aircraft
operated by domestic carriers were limited to 75% of 1990 base levels by the
end of 1994, with further reductions to 50% of 1990 base levels by the end
of 1996, 25% of 1990 base levels by the end of 1998 and ultimately to 0% by
December 31, 1999. The Regulations would allow the issuance of transferable
Stage 2 operating rights that expire in increments over the life of the
phase-out period.  These transferable rights would allow an operator that at
any time reduced its Stage 2 fleet below that required by the phase-out
schedule to transfer the "unused" base level to another operator.

Several modification programs to hushkit or re-engine an aircraft to meet
Stage 3 requirements have been announced, including programs for the B-727
series, the B-737 and the DC-9 series.  Hushkitting is a procedure for
retrofitting existing engines to comply with Stage 3 requirements.  Re-engining
is the replacement of existing engines with technologically-advanced engines
complying with Stage 3 requirements.  The decision whether to hushkit or
re-engine an aircraft will depend upon a variety of factors, including, without
limitation, the differential effects of the two approaches on the operating
costs of the aircraft, the relative costs and feasibility of the two approaches
and the General Partners' assessment of the remaining useful life and fair
market value of the aircraft.  Where available, hushkits currently can cost up
to $3.0 million per aircraft while the costs of re-engining programs are
significantly higher.  No assurances are possible in respect to the actual cost
which the Partnership would be required to pay in order to effect a hushkit or
re-engining modification as now available or as may be developed in the future.

In addition to FAA activity in noise abatement, other countries have adopted or
are considering adopting noise compliance standards which would have a similar
effect of reducing the ability of an airline to operate Stage 2 aircraft in
such jurisdictions.  In 1989, the European Economic Community adopted a
non-addition rule which directed each member country to pass the necessary
legislation to prohibit airlines from adding Stage 2 aircraft to their fleets
after November 1, 1990.  The rule has specific exceptions for leased aircraft
and does allow the continued use of Stage 2 aircraft which are in operation
before November 1, 1990, although adoption of rules requiring eventual
phase-out of Stage 2 aircraft in the member countries is anticipated.  The
Partnership does not currently have any aircraft on lease to airlines outside
the United States.  The effect of these regulations limits the market for these
aircraft unless they are hushkitted to comply with Stage 3 requirements.

Competition
The aircraft leasing industry is competitive and the success of any lessor is
largely dependent upon the nature of the aircraft within its portfolio.  The
Partnership competes with aircraft manufacturers, distributors, airlines,
leasing companies, financial institutions and other parties engaged in leasing,
managing, and marketing aircraft. Such competitors may lease or sell aircraft
at lower rates or prices than the Partnership and provide benefits, such as
direct maintenance crews, and support services which the Partnership cannot
provide.  Competition may include certain affiliates of the General Partners.

Since the Partnership's Aircraft are subject to operating leases, the
Partnership will be required to re-lease or sell such Aircraft after the
expiration of the current lease terms.  The General Partners' ability to renew
leases or to sell the Aircraft owned by the Partnership is dependent upon among
other factors: (a) general economic conditions and economic conditions
affecting the airline industry in particular; (b) the current operating profile
of the aircraft, encompassing the age of the aircraft and the number of hours
and cycles flown and compliance with all issued AD's as well as the general
maintenance conditions of the aircraft; (c) the current fleet plans of the
major end-users of the aircraft type; (d) any costs required to refurbish
aircraft and to reconfigure aircraft to comply with all issued AD's and to
conform with similar aircraft within a potential lessee's fleet; (e) any cost
required to conform the aircraft to future Stage 3 noise restrictions; (f) the
availability to the lessee or potential lessee of other similar aircraft from
the Partnership's competition; and (g) the ability of the Managing General
Partner to effectively market the aircraft.  It is possible that any future
lease renewals might be at lower lease rates than the Partnership currently
receives, adversely impacting revenue.

Employees
The Partnership has no employees.  The officers, directors and employees of the
General Partners and their affiliates perform services on behalf of the
Partnership.  The General Partners are entitled to certain fees and
reimbursement of certain out-of-pocket expenses incurred in connection with the
performance of these management services.  Reference is made to Note 7 to the
Financial Statements of the Partnership's Annual Report to Unitholders for the
year ended December 31, 1997, for a discussion of the fees and reimbursable
expenses paid to the General Partners and their affiliates.


Item 2.  Properties

Incorporated by reference to the Message to Investors and Note 4 to the
Financial Statements of the Partnership's Annual Report to Unitholders for the
year ended December 31, 1997.


Item 3.  Legal Proceedings

There are no material pending legal proceedings to which the General Partners
or the Partnership is a party or to which its assets are subject.


Item 4.  Submission of Matters to a Vote of Security Holders

No matter was submitted to a vote of security holders, through the solicitation
of proxies or otherwise, during the fourth quarter of 1997.



                               PART II

Item 5.  Market for Partnership's Limited Partnership Interest and Related
         Security Holder Matters

The Units represent the economic rights attributable to limited partnership
interests in the Partnership.

There is no established public trading market for the purchase and sale of
Units.  As of December 31, 1997, the number of Unitholders was 6,652.

Information concerning the quarterly cash distributions paid per limited
partnership unit is incorporated herein by reference to the page prior to the
Message to Investors and Note 6 of the Notes to Financial Statements of the
Partnership's Annual Report to Unitholders for the year ended December 31,
1997.


Item 6.  Selected Financial Data

Incorporated by reference to the "Financial Highlights" section of the Message
to Investors of the Partnership's Annual Report to Unitholders for the year
ended December 31, 1997.


Item 7.  Management's Discussion and Analysis of Financial Condition and
         Results of Operations

Liquidity and Capital Resources

As of December 31, 1997, all six of the Partnership's aircraft were on-lease.
There were three aircraft on-lease to Northwest Airlines, Inc. ("Northwest"),
one aircraft on-lease to Boeing Capital Corporation ("BCC"), one aircraft
on-lease to Delta Air Lines, Inc. ("Delta"), and one aircraft on-lease to
Continental Airlines, Inc. ("Continental").

The leases for the Partnership's three DC-9-30 aircraft expire in January 2007
(two aircraft) and April 2007 (one aircraft).  Northwest pays the Partnership a
monthly lease rate of $35,000 per aircraft.  As part of the August 1996
agreement to extend these leases, Northwest agreed to hushkit each aircraft
prior to December 31, 1999.  In exchange for funding the cost of the hushkits,
Northwest will be entitled to 50% of the proceeds from the sale of the
aircraft.  The General Partners believe that the lease extensions and
hushkitting of the engines will, in all likelihood, increase the value of the
aircraft and will present the Partnership with more viable sales opportunities
for the aircraft in the future.

On October 30, 1997, the lease for the Partnership's B-727-200 with TWA was
terminated.  TWA had been leasing the aircraft on a month-to-month basis at a
monthly lease rate of $32,500.  Commencing November 1, 1997, the aircraft was
re-leased to BCC, which subleases the aircraft to SportHawk International, Inc.
BCC pays the Partnership a monthly lease rate of $45,000.  The primary term of
the BCC lease expires on October 31, 1999.

The lease with Delta for the Partnership's 737-200 advanced aircraft expires in
September 1999.  In accordance with the terms of the lease agreement, Delta
pays the Partnership a monthly lease rate of $80,000.

Pursuant to the terms of the lease agreement executed with Continental in
February 1994, the Partnership agreed to provide up to $600,000 of financing to
the airline to perform modification work on the Partnership's MD-80 Series
aircraft, including advanced avionics, interior furnishings and exterior paint.
On June 7, 1994, the Partnership made its first advance to Continental in the
amount of $302,525.  The modification financing was repayable over the life of
the lease at an interest rate of 8% per annum for advances made before
February 1, 1996, and, with respect to advances made after February 1,1996, a
rate per annum equal to the yield to maturity of United States Treasury Notes
having a maturity closest to the remaining term of the lease, plus 4.25
percent. During the third quarter of 1997, Continental paid off the remaining
balance of the loan, which had totaled $108,403 as of December 31, 1996.
Payments made on this loan during 1997 are the reason for the decrease in the
Partnership's loan receivable balance to $0 at December 31, 1997.
Continental makes monthly lease payments to the Partnership of $180,000.
The lease with Continental was scheduled to expire in March 1998.  However, in
September 1997, the Partnership reached an agreement with Continental to extend
the lease through March 1999, with the remaining terms of the lease unchanged.

At December 31, 1997, the Partnership had unrestricted cash and cash
equivalents of $1,810,843, compared to $1,791,426 at December 31,1996.  The
increase is primarily attributable to the reclassification of the restricted
cash balance , which is no longer required due to the completion of all
maintenance requirements permitted under the lease agreement.  The increase in
cash was partially offset by distribution to the limited partners which
exceeded cash flow from operations during 1997.  The Partnership had a
restricted cash balance of $0 at December 31, 1997, as compared with $297,475
at December 31, 1996.

Accounts receivable totaled $45,000 at December 31, 1997 compared with $0 at
December 31, 1996.  The increase represents amounts due for December 1997 under
the terms of the lease with BCC for the Partnership's B-727-200 aircraft.

During the year ended December 31, 1997, the Partnership paid cash
distributions to the Unitholders for the period from October 1, 1996 to
December 31, 1996 and for the first three quarters of 1997, in the amounts of
$1,068,820 and $3,418,867, respectively, which represents approximately $.22
and approximately $.70 per Unit, respectively.  At December 31, 1997, the
Partnership had a distribution payable to Unitholders of $1,102,235, or
approximately $.23 per Unit.  This amount reflects the 1997 fourth quarter cash
distribution to Unitholders which was funded from cash flow from operations and
was subsequently paid on February 2, 1998.  Future cash distributions will be
determined on a quarterly basis after an evaluation of the Partnership's
current and expected financial position.

Results of Operations

Substantially all of the Partnership's revenue during 1997 was generated from
the leasing of the Partnership's Aircraft to commercial airlines under triple
net operating leases.  The majority of the balance of the Partnership's 1997
revenue consisted of interest income.

1997 compared to 1996

For the twelve months ended December 31, 1997, the Partnership reported net
income of $1,196,140, compared to $485,267 for the corresponding period in
1996.  The increase is primarily attributable to a decrease in depreciation
expense recorded by the Partnership as a result of the extended depreciable
life of the three DC-9-30 aircraft on-lease to Northwest.

Rental income totaled $4,795,000 for the year ended December 31, 1997 compared
with $4,770,000 in 1996.  The slight increase is attributable to the increase
in lease rate on the Partnership's B-727-200 aircraft under the new lease with
BCC which commenced November 1, 1997.

The decrease in depreciation expense recorded by the Partnership is the result
of the lease agreement with Northwest, which extended the depreciable life of
the three DC-9-30 aircraft on-lease to Northwest for a period of ten years.

Interest income totaled $111,683 for the year ended December 31, 1997 compared
with $263,533 in 1996.  The decrease is attributable to a decrease in the
Partnership's invested cash balance during 1997.

General and administrative expenses totaled $267,887 for the year ended
December 31, 1997, compared with $184,047 for the year ended December 31, 1996.
During the 1997 period, certain expenses incurred by an unaffiliated third
party service provider in servicing the Partnership, which were voluntarily
absorbed by affiliates of Jet Aircraft Leasing Inc. in prior periods, were
reimbursable to Jet Aircraft Leasing Inc. and its affiliates.  The increase was
also due to legal and consulting fees related to the aircraft currently on
lease to Northwest and BCC.

1996 compared to 1995

For the twelve months ended December 31, 1996, the Partnership reported net
income of $485,267, compared to $608,971 for the corresponding period in 1995.
The decrease is primarily attributable to gains on the sale of aircraft
totalling $1,083,016 recognized by the Partnership during 1995 as a result of
the June 1995 and September 1995 sales of two 727-200 non-advanced aircraft
formerly on-lease to TWA.  No such gain was recognized by the Partnership
during 1996.  Excluding the gains on sale of aircraft, the Partnership recorded
a loss from operations for the twelve months ended December 31, 1995 totalling
$474,045, compared to income from operations of $485,267 for 1996.  The
increase in income from operations for the 1996 period is primarily
attributable to a decrease in depreciation expense and, to a lesser extent, a
decrease in operating expenses, partially offset by a slight decrease in rental
income.

Rental income for the twelve months ended December 31, 1996 totalled $4,770,000
compared to $4,927,500 for the corresponding period in 1995.  The slight
decrease is primarily attributable to the reduction in the monthly lease rate
paid by Delta in accordance with the lease extension for the Partnership's
737-200 advanced aircraft executed in November 1995.

Other income for the twelve months ended December 31, 1996 totalled $45,823,
compared to $3,720 for the corresponding period in 1995.  The increase is
primarily attributable to a payment received by the Partnership in the amount
of $41,508 as settlement of an administrative claim by the Partnership against
Pan Am which was filed in Bankruptcy Court in 1992.  The Partnership was
seeking to recover certain rent and maintenance costs associated with Pan Am's
failure to comply with the return provisions of its lease.  The case was
settled during the second quarter of 1996.

Depreciation expense for the twelve months ended December 31, 1996 totalled
$3,961,231, compared to $5,001,206 for the corresponding period in 1995.  The
decrease is primarily attributable to the sales of the two 727-200 non-advanced
aircraft in June 1995 and September 1995 formerly on lease to TWA and to one of
the Partnership's aircraft being fully depreciated in 1995.

General and administrative expenses totalled $184,047 for the twelve months
ended December 31, 1996, compared to $156,043 for the corresponding period in
1995.  The increase is primarily due to an increase in printing and postage
costs and an increase in costs associated with the appraisal of the
Partnership's aircraft.

Operating expenses for the twelve months ended December 31, 1996 totalled
$1,346, compared to $73,128 for the corresponding period in 1995.  The balance
in the 1995 period is primarily attributable to storage and maintenance costs
which were incurred as a result of the idle status of the two 727-200
non-advanced aircraft during 1995 which were returned to the Partnership by
TWA subsequent to their respective lease expirations in the fourth quarter of
1994.  These aircraft were subsequently sold in June 1995 and September 1995.


Item 8.  Financial Statements and Supplementary Data

Incorporated by reference to the Partnership's Annual Report to Unitholders for
the year ended December 31, 1997.


Item 9.  Changes in and Disagreements with Accountants on Accounting and
         Financial Disclosure

None.


                               PART III

Item 10.  Directors and Executive Officers of the Partnership

The Partnership has no officers or directors.  The General Partners jointly
manage and control the affairs of the Partnership and have general
responsibility and authority in all matters affecting its business.
Information concerning the directors and executive officers of the General
Partners are as follows:

          Jet Aircraft Leasing Inc.

    Name                        Office
    Rocco F. Andriola           Director
    Jeffrey C. Carter           Director, President and Chief Financial Officer
    Michael T. Marron           Vice President

Certain officers and directors of Jet Aircraft Leasing, Inc. are now serving
(or in the past have served) as officers or directors of entities which act as
general partners of a number of limited partnerships which have sought
protection under the provisions of the Federal Bankruptcy Code.  Those
partnerships sought the protection of the bankruptcy laws to protect the
partnerships' assets from loss through foreclosure.

Rocco F. Andriola, 39, is a Managing Director of Lehman Brothers in its
Diversified Asset Group and has held such position since October 1996.  Since
joining Lehman in 1986, Mr. Andriola has been involved in a wide range of
restructuring and asset management activities involving real estate and other
direct investment transactions.  From June 1991 through September 1996,
Mr. Andriola held the position of Senior Vice President in Lehman's Diversified
Asset Group.  From June 1989 through May 1991, Mr. Andriola held the position
of First Vice President in Lehman's Capital Preservation and Restructuring
Group.  From 1986 to 1989, Mr. Andriola served as a Vice President in the
Corporate Transactions Group of Shearson Lehman Brothers' office of the general
counsel.  Prior to joining Lehman, Mr. Andriola practiced corporate and
securities law at Donovan Leisure Newton & Irvine in New York.  Mr. Andriola
received a B.A. from Fordham University, a J.D. from New York University School
of Law, and an LL.M in Corporate Law from New York University's Graduate School
of Law.

Jeffrey C. Carter, 52, is a Senior Vice President of Lehman Brothers in the
Diversified Asset Group.  Mr. Carter joined Lehman Brothers in September 1988.
From 1972 to 1988, Mr. Carter held various positions with Helmsley-Spear
Hospitality Services, Inc. and Stephen W. Brener Associates, Inc. including
Director of Consulting Services at both firms. From 1982 through 1987,
Mr. Carter was President of Keystone Hospitality Services, an independent hotel
consulting and brokerage company.  Mr. Carter received his B.S. degree in Hotel
Administration from Cornell University and an M.B.A. degree from Columbia
University.

Michael T. Marron, 34, is a Vice President of Lehman Brothers and has been a
member of the Diversified Asset Group since 1990 where he has actively managed
and restructured a diverse portfolio of syndicated limited partnerships.  Prior
to joining Lehman Brothers, Mr. Marron was associated with Peat Marwick
Mitchell & Co. serving in both its audit and tax divisions from 1985 to 1989.
Mr. Marron received his B.S. degree from the State University of New York at
Albany and an MBA from Columbia University.

                     CIS Aircraft Partners, Inc.

       Name                          Office
       Thomas J. Prinzing            Director and President
       Robin A. Konicek              Vice President

As reported on the Partnership's Current Report on Form 8-K, dated
February 28, 1989, on Friday, January 13, 1989, Continental Information Systems
Corporation, and certain of its subsidiaries, including CIS Corporation, filed
voluntary petitions for reorganization under Chapter 11 of the Federal
Bankruptcy Code.  As described below, various directors and executive officers
of CAP hold similar positions for Continental Information Systems Corporation,
CIS Corporation and such subsidiaries.

On November 29, 1994, the Bankruptcy Court for the Southern District of New
York confirmed the Trustee's Proposed Joint Plan of Reorganization.  The
approved Plan became effective on December 21,1994.  As a result of the
reorganization, the Directors and Officers of CAP resigned from and took on
various directorships for Continental Information Systems Corporation, CIS
Corporation and their subsidiaries.

Thomas J. Prinzing, 52, is President of CIS Aircraft Partners, Inc. and of
Continental Information Systems Corporation.  From 1991 to December 1995,
Mr. Prinzing was President of CIS Aircraft Partners, Inc.  Mr. Prinzing, a
Certified Public Accountant, received a Bachelor of Commerce degree from the
University of Windsor.

Robin A. Konicek, 41, is a Vice President of CIS Aircraft Partners, Inc. and is
responsible for domestic and international aircraft marketing.  She has been
active in the financing, trading and management of aircraft since 1982.  Prior
to joining CIS in 1986, Ms. Konicek was a Vice President of Crocker Bank
Airlines and Aerospace Group, with major responsibility for developing the
U.S. market.  She holds an A.B. from Stanford University and an M.B.A. from the
University of California, Los Angeles.


Item 11.  Executive Compensation

No compensation was paid by the Partnership to the officers and directors of
the General Partners.  See Item 13 below for a description of the compensation
and fees paid to the General Partners and their affiliates by the Partnership.


Item 12.  Security Ownership of Certain Beneficial Owners and Management

(a)Security ownership of certain beneficial owners
   As of the date hereof, no person is known by the Partnership to be the
   beneficial owner of more than five percent of the Units of the Partnership.

(b)Security ownership of management
   The Partnership has no directors or officers, and neither of the General
   Partners of the Partnership owns any Units.  The Assignor Limited Partners
   for the Partnership, CIS Assignor L.P.A., Inc. (an affiliate of CAP),
   owns 5 Units.

   None of the directors or officers of the General Partners owned any Units
   as of December 31, 1997.

(c)Changes in Control
   Other than as described herein, the Partnership knows of no arrangements,
   the operation of the terms of which may at a subsequent date result in a
   change in control of the Partnership.


Item 13.  Certain Relationships and Related Transactions

The General Partners and their affiliates received or will receive certain
types of compensation, fees, or other distributions in connection with the
operation of the Partnership.  The fees and compensation were not determined
by, and may not necessarily reflect, arm's length negotiations.  None of the
officers and directors of the General Partners received any compensation from
the Partnership.  First Data Investor Services Group, an unaffiliated company,
provides partnership accounting and investor relations services for the
Partnership.  Prior to May 1993, these services were provided by an affiliate
of a general partner.  During the 1997 periods, certain expenses incurred by
First Data Investor Services Group, Inc. in servicing the Partnership, which
were voluntarily absorbed by affiliates of Jet Aircraft Leasing Inc. in prior
periods, were reimbursable to Jet Aircraft Leasing Inc. and its affiliates.
For additional information on fees paid to the General Partners and affiliates,
reference is made to Note 7 of the Notes to the Financial Statements in the
Partnership's Annual Report to Unitholders for the year ended
December 31, 1997.


                               PART IV


Item 14.  Exhibits, Financial Statement Schedules and Reports on Form 8-K


(a) 1.   Financial Statements:
                                                                 Page
                                                                Number

      Balance Sheets - December 31, 1997 and 1996                 (1)

      Statements of Partners' Capital (Deficit) - For the years
      ended December 31, 1997, 1996 and 1995                      (1)

      Statements of Operations - For the years ended
      December 31, 1997, 1996 and 1995                            (1)

      Statements of Cash Flows - For the years ended
      December 31, 1997, 1996 and 1995                            (1)

      Notes to Financial Statements                               (1)

      Report of Independent Public Accountants                    (1)

      (1) Incorporated by reference to the Partnership's Annual Report to
          Unitholders for the year ended December 31, 1997.

    2.   Financial Statement Schedules:
         No schedules are presented because the information is not applicable
         or is included in the Financial Statements or the notes thereto.

    3.   Exhibits:

         (3) Articles of Incorporation and bylaws (Incorporated by reference
             to the Partnership's Prospectus filed with the Commission on
             April 17, 1987.)

         (4) Depositary Agreement (Incorporated by reference to Exhibit 4.5
             to the Partnership's Registration Statement on Form S-1 filed
             with the Commission on April 17, 1987.)

        (10) Escrow Agreement (Incorporated by reference to Exhibit 10.12 to
             the Partnership's Registration Statement on Form S-1 filed with
             the Commission on April 17, 1987.)

        (13) Annual Report to Unitholders for the year ended December 31, 1997.

        (27) Financial Data Schedule

(b)   The Partnership filed no current reports on Form 8-K during the fourth
      quarter of the period covered on this Report.


                           SIGNATURES

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.


                         JETSTREAM II, L.P.

                         BY:  Jet Aircraft Leasing Inc.
                              Administrative General Partner


Date:  March 27, 1998
                         BY:    /s/Jeffrey C. Carter
                         Name:  Jeffrey C. Carter
                         Title: Director, President and Chief Financial Officer



                         BY:  CIS Aircraft Partners, Inc.
                              Managing General Partner


Date:  March 27, 1998
                         BY:    /s/ Thomas J. Prinzing
                         Name:  Thomas J. Prinzing
                         Title: Director and President

Pursuant to the requirements of the Securities Exchange Act of 1934, this
report has been signed below by the following persons on behalf of the
registrant and in the capacities and on the dates indicated.


                         CIS AIRCRAFT PARTNERS, INC.
                         A General Partner


Date:  March 27, 1998    BY:    /s/ Thomas J. Prinzing
                                Thomas J. Prinzing
                                Director and President


Pursuant to the requirements of the Securities Exchange Act of 1934, this
report has been signed below by the following persons on behalf of the
registrant and in the capacities and on the dates indicated.


                         JET AIRCRAFT LEASING INC.
                         A General Partner


Date:  March 27, 1998    BY:    /s/Rocco F. Andriola
                                Rocco Andriola
                                Director


Date:  March 27, 1998    BY:    /s/Jeffrey C. Carter
                                Jeffrey C. Carter
                                Director, President and Chief Financial Officer


Date:  March 27, 1998    BY:    /s/Michael T. Marron
                                Michael T. Marron
                                Vice President