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:  0-16836

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


     Delaware                                         84-1053359
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 DEPOSITORY 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 September 10, 1987, as filed
pursuant to rule 424(c) of the Securities Act of 1933, as amended
(Portions of Parts I, II, III and IV).

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

                                PART I

Item 1.  Business.

General Development of Business

JetStream, L.P. (the "Partnership") is a limited partnership organized
under the laws of the State of Delaware on April 16, 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 April 16, 1987, the
Partnership conducted no activities and recognized no revenues,
profits or losses prior to October 28, 1987, at which time the
Partnership commenced operations.  During the period between October
29, 1987 and November 4, 1987, 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 September 10, 1987, the Partnership commenced an offering (the
"Offering") on a "best efforts basis" of $97,900,000 of limited
partnership depositary units ("Units").  The closing of the offering
occurred on October 28, 1987, with a total of 4,895,005 Units being sold
at a price of $20.00 per Unit, for a total of approximately $97,900,000.
The net proceeds of the offering after payment of offering and
organization costs and acquisition fees aggregated $85,747,510.

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 October 28, 1998; 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 September 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 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 Aircraft's usage, age and lease rate, the
credit worthiness of the lessee, government noise and maintenance
regulations and the supply and demand of aircraft in the market place
with similar lift capacity.  Reference is made 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, 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)

MD-80 Series 1986     Continental    $27,396,997   $6,459,266    $15,925,700

B-737-200 ADV 1979    Delta          $15,222,609   $1,919,168    $ 4,284,600

B-737-200 1971        Eastwind       $ 7,601,999   $        0    $ 1,362,500

B-737-200 1971        Eastwind       $ 7,601,999   $        0    $ 1,508,200

B-727-200 1969        TWA            $ 5,448,499   $        0    $   524,000

B-727-200 1969        TWA            $ 5,448,499   $        0    $   524,000

TOTALS                               $68,720,602   $8,378,433    $24,129,000


                                                  Cumulative      Cumulative
Aircraft Model          Lease           Noise       Flight          Flight
Year Delivered        Expiration     Compliance     Cycles           Hours

MD-80 Series 1986     3/15/99         Stage 3       16,840          34,420

B-737-200 ADV 1979    9/30/99         Stage 2       37,250          55,770

B-737-200 1971        11/30/99        Stage 2       71,500          62,570

B-737-200 1971        11/30/99        Stage 2       71,010          62,710

B-727-200 1969        N/A (6)         Stage 2       47,870          70,750

B-727-200 1969        N/A (6)         Stage 2       47,060          69,430


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.  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)  Eastwind and TWA data as of March 6, 1998; Continental data as
     of March 9, 1998; and Delta data as of March 12, 1998.

(6)  TWA currently leases the Partnership's two remaining 727-200 non-
     advanced aircraft on a month-to-month basis.

Aging Aircraft Maintenance - The Federal Aviation Administration (the
"FAA"), acting on recommendations from industry trade groups, 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.

Four of the Partnership's six Aircraft are subject to AD's mandating
structural modification, specifically the two B-727 aircraft, which
are currently leased to TWA, and the two B-737 aircraft leased to
Eastwind.  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 implemented 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.

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,
50% of 1990 base levels by the end of 1996, with further reductions to
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 and the B-737 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.

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 were 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 section 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

The Partnership filed an administrative claim against Pan American
World Airways, Inc. ("Pan Am") in 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 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 in the second quarter of 1996.  The Partnership
received $43,353 as settlement of this claim in 1996.

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 the Partnership's Limited Partnership Interests
         and Related Security Holders 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
7,185.

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, the Message to Investors,
and Note 6 of the Notes to the 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 Conditions
         and Results of Operations

Liquidity and Capital Resources

As of December 31, 1997, all six of the Partnership's Aircraft were on-
lease.  Two aircraft were on-lease to Eastwind Airlines ("Eastwind"),
two aircraft were on-lease to Trans World Airlines Inc. ("TWA"), one
aircraft was on-lease to Delta Air Lines, Inc. ("Delta") and one
aircraft was on-lease to Continental Airlines ("Continental").

The Partnership's two 737-200 non-advanced aircraft are currently on-
lease to Eastwind.  Under the terms of the lease agreements, which
expire on November 30, 1999, Eastwind is required to pay the
Partnership a monthly lease rate of $35,000 per aircraft.  In
addition, the airline is required to pay the Partnership an engine
charge and airframe maintenance charges based on usage.  During the
second quarter, certain repairs and maintenance work was performed on
each of the aircraft at a total cost to the Partnership of $220,000.
This work included the replacement of landing gear on one aircraft,
and replacement seats on both.

TWA continues to lease the Partnership's two remaining 727-200 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 are returned to the
Partnership, the General Partners believe that it will be very
difficult to re-lease them to another airline.

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
$278,203.  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.  During the third quarter of 1997,
Continental paid off the remaining balance of the loan, which had
totaled $41,031 just prior to repayment.  Payments made on this loan
during 1997 are the reason for the decrease in the Partnership's loan
receivable balance, which totaled $0 at December 31, 1997 as compared
to $99,688 at December 31, 1996.  Continental makes monthly lease
payments to the Partnership of $180,000.  The lease made with
Continental was previously scheduled to expire in 1998.  However, in
September 1997, the Partnership made and Continental agreed to extend
the lease through March 1999, with the remaining terms of the lease
unchanged.  This modification financing is also discussed in Note 4 of
the Notes to Financial Statements.

At December 31, 1997, the Partnership had unrestricted cash and cash
equivalents of $2,131,335, compared to $1,573,594 at December 31,
1996.  The increase in cash and cash equivalents is primarily due to
cash flow from operations and loan receivable collections throughout
1997 which exceeded distributions paid.  The Partnership had a
restricted cash balance of $0 at December 31, 1997, as compared with
$321,797 at December 31, 1996.  In 1997, the restricted cash is no
longer required due to the completion of all maintenance requirements.

At December 31, 1997, the Partnership had a rent receivable balance
totalling $79,053, compared to $603,311 at December 31, 1996.  The
decrease is primarily due to the receipt in January 1997 of delinquent
rental payments for the final four months of 1996, as well as monthly
maintenance reserve payments for the third and fourth quarters of
1996, owed to the Partnership by Eastwind.

Accounts payable and accrued expenses totaled $307,831 at December 31,
1997 as compared to $302,075 at December 31, 1996.  The decrease is
primarily attributable to the timing of management fee payments.

During the year ended December 31, 1997, the Partnership paid
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 $1,335,241 and $3,372,020, respectively, which represent
approximately $.27 and approximately $.69 per Unit, respectively. At
December 31, 1997, the Partnership had a distribution payable to
Unitholders of $1,419,551 or approximately $.29 per Unit.  This amount
reflects the 1997 fourth quarter cash distribution paid on February 2,
1998, which was primarily funded from cash flow from operations.

Future cash distributions will be determined on a quarterly basis
after an evaluation of the Partnership's current and expected
financial position.  The level of cash available for future
distribution will be reduced if TWA terminates the leases for the
Partnership's two 727-200 non-advanced aircraft, which are currently
leased on a month-to-month basis.

Results of Operations

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

1997 compared to 1996

For the twelve months ended December 31, 1997, the Partnership
generated net income in the amount of $1,149,074, compared to income
of $687,834 for the corresponding period in 1996.  The increase in net
income is primarily attributable to a decrease in depreciation
expense, which was partially offset by a decrease in rental income and
increases in all other expenses.  Additionally, net income for the
1996 period includes a $130,000 gain on the August 1996 sale of the
737-200 aircraft  formerly on lease to Eastwind.

Rental income for the twelve months ended December 31, 1997 was
$5,037,980, compared to $5,248,593 for the corresponding period in
1996.  The decrease in rental income is primarily due to the fact that
the two aircraft leased by Eastwind were not being operated on a daily
basis for the first two months of 1997 because of maintenance-related
issues, including the installation of a hushkit on one aircraft.

Other income totaled $99,722 for the twelve months ended December 31,
1997, compared to $43,353 for the corresponding period in 1996.  The
increase primarily represents payment received from USAir, Inc.
("USAir") for the settlement and release of claims relating to the
lease and maintenance of the Boeing 737-200 aircraft, previously on
lease with USAir.  The balance of $43,353 at December 31, 1996
reflects a payment received by the Partnership as settlement of an
administrative claim by the Partnership against Pan American World
Airways, Inc. ("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.

Interest income for the twelve months ended December 31, 1997 totaled
$129,090, compared to $150,740 for the corresponding period in 1996.
The decrease is primarily due to a decrease in the Partnership's
invested cash balance during the 1997 period.

Depreciation expense for the twelve months ended December 31, 1997
totaled $3,211,650, compared to $4,076,214 for the corresponding
period in 1996.  The decrease is primarily attributable to the full
depreciation of Eastwind's aircraft N220US and N221US as of December
31, 1996.

General and Administrative expenses at December 31, 1997 totaled
$230,295 as compared with $192,656 at 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.

Operating expenses for the twelve months ended December 31, 1997
totaled $227,905, compared to $194,231 for the corresponding period in
1996.  The increase is primarily attributable to maintenance and
repairs on the aircraft leased by Eastwind.

1996 compared to 1995

For the twelve months ended December 31, 1996, the Partnership
generated net income in the amount of $687,834, compared to a net loss
of $170,290 for the corresponding period in 1995.  The change from net
loss to net income is primarily attributable to higher rental income
and a decrease in depreciation expense.  The net loss for the 1995
period includes a $446,375 gain on the June 1995 sale of the 727-200
aircraft formerly on-lease to TWA.  Excluding this gain, the
Partnership generated a loss from operations during 1995 totalling
$616,665.  Net income for the 1996 period includes a $130,000 gain on
the August 1996 sale of an engine that was previously on one of the
Partnership's 737-200 non-advanced aircraft currently on-lease to
Eastwind.  Excluding this gain, the Partnership generated income from
operations during 1996 totalling $557,834.

Rental income for the twelve months ended December 31, 1996 was
$5,248,593, compared to $4,837,439 for the corresponding period in
1995.  The increase in rental income is primarily due to the execution
of the leases with Eastwind in the third quarter of 1995 for the
Partnership's two 737-200 non-advanced aircraft.  The increases in
both periods were partially offset by a 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 and
the expiration of the leases with USAir in May 1995.

Other income totaled $43,353 for the twelve months ended December 31,
1996, compared to $0 for the corresponding period in 1995.  The
balance for the twelve months ended December 31, 1996 reflects
payments received by the Partnership 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.

Interest income for the twelve months ended December 31, 1996 totaled
$150,740, compared to $215,050 for the corresponding period in 1995.
The decrease is primarily due to a decrease in the Partnership's
invested cash balance during the 1996 period.

Depreciation expense for the twelve months ended December 31, 1996
totaled $4,076,214, compared to $4,919,101 for the corresponding
period in 1995.  The decrease is primarily attributable to the June
1995 sale of the 727-200 non-advanced aircraft formerly on-lease to
TWA and the two aircraft currently on-lease to TWA being fully
depreciated in April 1995.

Operating expenses for the twelve months ended December 31, 1996
totaled $194,231, compared to $49,707 for the corresponding period in
1995.  The increase is primarily attributable to the payment of
approximately $130,000 to reimburse one of the Partnership's General
Partners for previously incurred aircraft operating expenses paid by
the General Partner, and, to a lesser extent, costs incurred by the
Partnership in connection with the Q-checks performed on the
Partnership's two aircraft on-lease to Eastwind during the first half
of 1996.

Bad debt expense for the twelve months ended December 31, 1996 totaled
$0, compared to $70,000 for the corresponding period in 1995.  The
balance for the twelve months ended December 31, 1995 represents June
1995 rent that was owed to the Partnership by USAir.

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 & CFO
       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 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 CIS), 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.  During the 1997 periods, 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 reimburseable to Jet
Aircraft Leasing Inc. and its affiliates.  For additional information
on fees paid to the General Partners and affiliates, refer to Note 7
of the Notes to the Financial Statements of 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 the 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
    last quarter of the period covered by 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, 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 F. 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