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  [Fee Required] For the fiscal year ended December 31, 1995 or
Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934  [No fee Required] 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
State or other jurisdiction             84-1068932
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, 1995 (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, 1995, 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 "Portfolio Review" section and Note 4 to the
Financial Statements of the Partnership's Annual Report to Unitholders for the
year ended December 31, 1995, 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 table describes the Partnership's portfolio of Aircraft as of
December 31, 1995.  This table provides 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 Aircrafts' 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 the "Portfolio Review"
section and Note 4 to the Financial Statements of the Partnership's Annual
Report to Unitholders for the year ended December 31, 1995 for a discussion of
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, 1995 for an overview of the aircraft leasing industry.

<TABLE>
<CAPTION>
<S>
                                                        Estimated                               Cumulative Cumulative
Aircraft Model          Acquisition     Net Book        Market         Lease         Noise      Flight     Flight
Year Delivered  Lessee  Cost (1)        Value (2)       Value(3)       Expiration(4) Compliance Cycles(5)  Hours(5)
<C>             <C>     <C>             <C>             <C>            <C>           <C>        <C>        <C>
B-727-200       TWA     $ 5,451,231     $0              $   818,500    N/A(6)        Stage 2    43,760     65,070
1969

DC-9-30         Nrthwst $ 7,230,460     $ 1,139,992     $ 2,506,000    4/21/97       Stage 2    57,670     59,275
1968

DC-9-30         Nrthwst $ 7,230,460     $ 1,139,992     $ 2,143,000    1/31/97       Stage 2    73,740     68,900
1970

DC-9-30         Nrthwst $ 7,230,461     $ 1,139,992     $ 2,534,000    1/31/97       Stage 2    61,230     56,965
1970

MD-80 Series    Contntl $27,313,020     $11,018,416     $16,540,000    3/15/98       Stage 3    13,740     27,610
1986

B-737-200 ADV   Delta   $14,380,390     $ 3,501,104     $ 5,585,000    9/30/99       Stage 2    33,490     51,760
1979

TOTALS                  $68,836,022     $17,939,496     $30,126,500

<FN>
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, 1995.

(3)     Estimated market values for the Aircraft are based upon annual
independent appraisals.  These estimates 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)	As of February 8, 1996.

(6)     TWA currently leases the Partnership's remaining 727-200 non-advanced
aircraft on a month-to-month basis.  The Partnership's two 727-200 non-advanced
aircraft which were returned by TWA in the fourth quarter of 1994 were
subsequently sold by the Partnership in June 1995 and September 1995 for net
proceeds of $1,533,570.

</FN>
</TABLE>

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 TWA, 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 status of
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.

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 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.  Of the
Partnership's five Stage 2 aircraft, the General Partners do not believe that
it would be economically viable to hushkit the 727-200 non-advanced aircraft
currently on-lease to TWA.

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 highly competitive and the success of any
lessor is largely dependent primarily upon the nature of the aircraft within
its portfolio.  The Partnership competes with aircraft manufacturers,
distributors, airlines, and other operators, equipment managers, 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.  Conditions in the market for commercial
aircraft have remained intensely competitive in recent years as the number of
Stage 2, narrow-body commercial aircraft which are being offered for sale or
re-lease has remained in excess of demand.

Within this intensely competitive environment, 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, 1995, 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 "Portfolio Review" section and Note 4 to the
Financial Statements of the Partnership's Annual Report to Unitholders for the
year ended December 31, 1995.


Item 3.  Legal Proceedings
The Partnership has filed an administrative claim against Pan American World
Airways, Inc. ("Pan Am") in the Bankruptcy Court as a result of Pan Am's return
of the Partnership's aircraft in November 1991.  The aircraft was subsequently
sold in February 1992.  The Partnership is seeking to recover certain rent and
maintenance costs associated with Pan Am's failure to comply with the return
provisions of its lease.  Given the status of Pan Am's estate, the General
Partners are doubtful that the Partnership will obtain a significant recovery.


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 1995.

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, 1995, the number of Unitholders was 6,943.

Information concerning the quarterly cash distributions paid per limited
partnership unit is incorporated herein by reference to the inside front cover,
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,
1995.


Item 6.  Selected Financial Data
Incorporated by reference to the "Financial Results" section of the
Partnership's Annual Report to Unitholders for the year ended December 31,
1995.


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

Liquidity and Capital Resources

As of December 31, 1995, 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 Trans World Airlines, Inc. ("TWA"), one aircraft
on-lease to Delta Air Lines, Inc. ("Delta"), and one aircraft on-lease to
Continental Airlines, Inc. ("Continental").

The Partnership recently reached an agreement in principle to a lease
modification with Northwest which, when executed, will extend the current
leases for a term of 10 years from the scheduled lease expiration dates in
January 1997 (two aircraft) and April 1997 (one aircraft).  Northwest will
continue to pay the Partnership a monthly lease rate of $35,000 per aircraft.
In accordance with the anticipated lease extensions, each of the aircraft will
be hushkitted, which entails upgrading the current engines to comply with Stage
3 noise requirements.  This will enable the aircraft to continue to fly in the
United States beyond December 31, 1999 -- the phase-out date for all Stage 2
commercial aircraft.  Northwest has agreed to fund the cost of the hushkitting
and, in turn, will be entitled to 50% of the proceeds from the sale of the
aircraft at the end of the lease.  The General Partners believe this is a
positive development for the Partnership since the proposed 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.  In light of the fact that
Northwest will be funding costs associated with hushkitting the aircraft, the
General Partners are currently analyzing the Partnership's future cash
requirements to determine if any of the Partnership's cash currently in reserve
can be included in a future distribution to Unitholders.

TWA continues to lease the Partnership's remaining 727-200 Stage 2 non-advanced
aircraft on a month-to-month basis and remains current on its monthly lease
payments of $32,500 per aircraft.  To date, TWA has not given any indication to
the Partnership as to how long it will continue to lease the aircraft.  Once
the aircraft is returned to the Partnership, the General Partners believe that
it will be very difficult to re-lease it to another airline.

An agreement was reached with Delta in November 1995 to amend and extend the
current lease for the Partnership's 737-200 advanced aircraft until September
30, 1999 at a monthly lease rate of $80,000.  While this rate represents a
decline from the previous rate of $95,000 per month, it is in line with
prevailing market rates.  Under the terms of the amended lease, Delta does not
have the option of returning the aircraft prior to the expiration date as it
did under the previous lease agreement.

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 is 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.  As of
December 31, 1995, Continental had made principal payments on the loan
totalling $114,796.  Payments made on this loan are the reason for the decrease
in the Partnership's loan receivable balance, which totalled $187, 729 at
December 31, 1995 as compared to $260,975 at December 31, 1994.  Continental
makes monthly lease payments to the Partnership of $180,000.

The Partnership is faced with an intensely competitive environment in the
aircraft leasing industry which has had a material impact on the business of
the Partnership.  In particular, the large oversupply of aircraft available for
lease has resulted in significant reductions in market lease rates in recent
years, thereby impacting the lease rates obtained by the Partnership as leases
for the aircraft have been either renewed or extended.

At December 31, 1995, the Partnership had unrestricted cash and cash
equivalents of $4,282,580 as compared to $2,978,631 at December 31, 1994.  The
$1,303,949 increase in unrestricted cash and cash equivalents is mainly
attributable to proceeds received from the sale of the two 727-200 non-advanced
aircraft in June 1995 and September 1995, formerly on-lease to TWA.  The
Partnership's restricted cash balance at December 31, 1995 of $1,047,475
remained unchanged from December 31, 1994.  The Partnership's restricted cash
is comprised of: (i) $750,000 which is to be used in connection with performing
various airworthiness directives mandated by the Federal Aviation
Administration, and (ii) $297,475 which represents the balance of modification
work financing committed to Continental in accordance with the 1994 lease
agreement.

During the year ended December 31, 1995, the Partnership paid distributions to
the Unitholders for the period from October 1, 1994 to December 31, 1994 and
for the first three quarters of 1995, in the amounts of $1,276,043 and
$3,538,320, respectively, which represents approximately $.26 and approximately
$.73 per Unit, respectively.  At December 31, 1995, the Partnership had a
distribution payable to Unitholders of $1,001,763, or approximately $.21 per
Unit.  This amount reflects the 1995 fourth quarter cash distribution to
Unitholders which was funded from cash flow from operations.  This distribution
was subsequently paid on February 2, 1996.  Future cash distributions will be
determined on a quarterly basis after an evaluation of the Partnership's
current and expected financial position. 

On March 18, 1996, based upon, among other things, the advice of Partnership
counsel, Skadden, Arps, Slate, Meagher & Flom, the General Partners adopted a
resolution that states, among other things, if a Change of Control (as defined
below) occurs, the General Partners may distribute the Partnership's cash
balances not required for its ordinary course day-to-day operations.  "Change
of Control" means any purchase or offer to purchase more than 10% of the Units
that is not approved in advance by the General Partners.  In determining the
amount of the distribution, the General Partners may take into account all
material factors.  In addition, the Partnership will not be obligated to make
any distribution to any partner and no partner will be entitled to receive any
distribution until the General Partners have declared the distribution and
established a record date and distribution date for the distribution.  The
Partnership filed a Form 8-K disclosing this resolution on March 21, 1996.

Results of Operations

Substantially all of the Partnership's revenue during 1995 was generated from
the leasing of the Partnership's aircraft to commercial air carriers under
triple net operating leases.  The majority of the balance of the Partnership's
revenue consisted of interest income. 

1995 compared to 1994
For the twelve months ended December 31, 1995, the Partnership reported net
income of $608,971 as compared to a net loss of $575,105 for the corresponding
period in 1994.  The increase is primarily attributable to a $1,083,016 gain on
the sale of the two 727-200 non-advanced aircraft in June and September 1995,
respectively, which were formerly on-lease to TWA.  This increase was partially
offset by a decrease in rental income.

Rental income for the twelve months ended December 31, 1995 totalled $4,927,500
as compared to $5,417,086 for the corresponding period in 1994.  The decrease
is primarily due to the fourth quarter 1994 lease expirations and subsequent
sale of the two 727-200 non-advanced aircraft formerly on lease to TWA and, to
a lesser extent, the reduction of the monthly lease rate paid by Delta in
accordance with the lease extension for the Partnership's 737-200 advanced
aircraft effected in November 1995.

Interest income for the twelve months ended December 31, 1995 totalled $282,782
as compared to $134,581 for the corresponding period in 1994.  The increase is
attributable to an increase in the Partnership's invested cash balance, higher
interest rates and interest income earned on the loan to Continental.

Other Income totalled $3,720 for the twelve months ended December 31, 1995 as
compared to $55,380 for the year ended December 31, 1994.  The higher balance
in 1994 primarily represents a reimbursement made to the Partnership as
settlement for damage done to the landing gear of the Partnership's MD-80
Series aircraft while it was in storage prior to being re-leased to Continental
in February 1994.

Depreciation expense for the twelve months ended December 31, 1995 totalled
$5,001,206 as compared to $5,451,744 for the corresponding period in 1994.  The
decrease is primarily attributable to the sales of the two 727-200 non-advanced
aircraft in June 1995 and September 1995.

General and administrative expenses for the twelve months ended December 31,
1995 were $156,043 as compared to $193,698 for the corresponding period in
1994.  The decrease is primarily attributable to legal expenses which were
incurred in the first quarter of 1994 in connection with the lease agreement
with Continental.

Operating expenses for the twelve months ended December 31, 1995 totalled
$73,128 as compared to $56,937 for the corresponding period in 1994.  The
increase 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 which were returned to the Partnership by TWA subsequent to the
respective lease expirations in the fourth quarter of 1994.

1994 compared to 1993
For the twelve months ended December 31, 1994, the Partnership reported a net
loss of $575,105 as compared to a net loss of $14,797,472 for the corresponding
period in 1993.  The decrease in net loss is primarily attributable to the
write-down of the net book values of the Partnership's aircraft in December
1993.  Excluding the write-down, the Partnership would have recorded net income
of $753,804 for the year ended December 31, 1993.

Rental income for the twelve months ended December 31, 1994 was $5,417,086 as
compared to $5,112,882 for the corresponding period in 1993.  The increase is
due to the new lease agreement with Continental effective March 15, 1994,
partially offset by a reduction in income resulting from the new lease
agreements with TWA and Northwest.

Interest income for the twelve months ended December 31, 1994 was $134,581 as
compared to $148,444 for the corresponding period in 1993.  The decrease is due
to lower cash balances maintained by the Partnership during 1994 as compared to
1993.  This decrease is partially offset by interest received from Continental
for the balance outstanding on their loan.

Other income for the twelve months ended December 31, 1994 was $55,380, as
compared to $2,139,699 for the corresponding period in 1993.  Upon the
expiration of the previous lease with Continental in April 1993, $2,139,699
remaining in the maintenance reserve, previously established to provide funding
for maintenance on the Partnership's MD-80 Series aircraft, was retained by the
Partnership in accordance with the terms of the lease agreement and recognized
as other income.

Depreciation expense for the twelve months ended December 31, 1994 totalled
$5,451,744 as compared to $5,980,380 for the corresponding period in 1993.  The
decrease is due to the write-down of the net book values of the Partnership's
aircraft in December 1993.

Management fees for the twelve months ended December 31, 1994 were $479,773 as
compared to $388,374 for the corresponding period in 1993.  Management fees are
based on rental income and operating cash flow.  The increase is attributable
to the higher rental income during 1994 due mainly to the new lease agreement
with Continental.

Operating expenses for the twelve months ended December 31, 1994 were $56,937,
as compared to $84,687 for the corresponding period in 1993.  The Partnership
incurred substantial costs for storage, maintenance and insurance for the MD-80
Series aircraft in storage from May 1993 through March 1994.  The 1993 costs
were mainly for insurance, storage and maintenance, while the 1994 costs also
include consulting and documentation to prepare the aircraft for re-leasing.

Item 8.  Financial Statements and Supplementary Data
Incorporated by reference to the Partnership's Annual Report to Unitholders for
the year ended December 31, 1995.


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
	Moshe Braver	Director and President
	John Stanley	Vice President and Chief Financial Officer

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.

Moshe Braver, 42, is currently a Managing Director of Lehman Brothers and has
held such position since October 1985.  During this time, he has held positions
with the Business Analysis Group, International and Capital Markets
Administration and currently, with the Diversified Asset Group.  Mr. Braver
joined Shearson Lehman Brothers in August 1983 as Senior Vice President.  Prior
to joining Shearson, Mr. Braver was employed by the accounting firm of Coopers
& Lybrand from January 1975 through August 1983 as an Audit Manager.  He
received a Bachelor of Business Administration degree from Bernard Baruch
College in January 1975 and is a Certified Public Accountant.

John D. Stanley, 33, Vice President, has worked with the Diversified Asset
Group since October 1988.  Mr. Stanley received a B.A. in Economics from the
University of Wisconsin-Madison in 1984 and a Master of Management Degree from
Northwestern University in 1988.  From 1984 to 1986, Mr. Stanley worked as a
Financial Analyst for Kidder, Peabody and Co.

	CIS Aircraft Partners, Inc.
	
        Name                    Office
	Thomas J. Prinzing	Director and President
	Frank J. Corcoran	Director, Vice President and Treasurer
	Robin A. Konicek	Vice President
	Susan E. Weatherwax	Secretary

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, 50, 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. 

Frank J. Corcoran, 45, joined CIS Corporation in November 1994 as Senior Vice
President and Chief Financial Officer.  From 1992 until joining CIS
Corporation, Mr. Corcoran was Vice President and General Manager of Unisys
Finance Corporation, an equipment leasing and finance subsidiary of Unisys
Corporation.  Previously, he served as Chief Financial Officer and Controller
of Unisys Finance Corporation.  Prior to that, Mr. Corcoran held positions of
Corporate Tax Manager at Unisys Corporation; Controller, U.S. Operations of
Lucas Industries, Inc.; Financial Analyst with Detroit Edison Company; and a
Senior Accountant with KPMG Peat Marwick.  Mr. Corcoran holds a B.S. in
Business Administration from Wayne State University, an M.S. in Taxation from
Walsh College, and is a Certified Public Accountant.

Robin A. Konicek, 39, 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.

Susan E. Weatherwax, 38, is Senior Counsel and Assistant Secretary of CIS
Corporation.  She has been employed at CIS Corporation since August 1987 and
prior to that served as Corporate Counsel of United Computer Capital
Corporation.  Ms. Weatherwax received a Bachelor of Arts degree from Indiana
University and her Juris Doctor from Syracuse University College of Law.


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, 1995.

(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.  Transfer agent services and certain tax reporting
services are provided by Service Data Corporation, an unaffiliated company. 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 on page 10
of the Partnership's Annual Report to Unitholders for the year ended December
31, 1995.

PART IV

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


	(a)(1)	Financial Statements:
                                                                Page
                                                                Number

        Balance Sheets - December 31, 1995 and 1994             (1)

        Statements of Partners' Capital (Deficit) -
        For the years ended December 31, 1995, 1994 and 1993    (1)

        Statements of Operations - For the years ended
        December 31, 1995, 1994 and 1993                        (1)

        Statements of Cash Flows - For the years ended
        December 31, 1995, 1994 and 1993                        (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, 1995.

	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, 1995.

		(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 22, 1996

                BY:     /s/ Moshe Braver
                Name:       Moshe Braver
                Title:      Director and President


                BY:     CIS Aircraft Partners, Inc.
                        Managing General Partner


Date:  March 22, 1996
                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 22, 1996

                BY:     /s/ Thomas J. Prinzing
                            Thomas J. Prinzing
                            Director and President

Date:  March 22, 1996

                BY:     /s/ Frank J. Corcoran
                            Frank J. Corcoran
                            Director, Vice President
                            and Treasurer


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 22, 1996

                        BY:/s/ Moshe Braver
                               Moshe Braver
                               Director and President


Date:  March 22, 1996

                        BY:/s/ John Stanley
                               John Stanley
                               Vice President and
                               Chief Financial Officer


JetStream II, L.P.
EXHIBIT 13

JetStream II, L.P.
1995 Annual Report