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:  0-16836 


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


   Delaware                                                  84-1053359
State or other jurisdiction                               I.R.S Employer
of incorporation or organization                         Identification No.

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

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, 1995 (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, 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 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 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 noise and
maintenance 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.


                                                             Estimated
Aircraft Model                 Acquisition    Net Book       Market
Year Delivered  Lessee         Cost           Value          Value

MD-80 Series    Continental    $ 27,396,997   $ 10,592,120   $ 17,097,000
  1986

B-737-200       Eastwind       $  7,601,999   $    416,672   $  2,312,000
  1971

B-737-200       Eastwind       $  7,601,999   $    416,672   $  2,312,000
  1971

B-737-200 ADV   Delta          $ 15,222,609   $  3,459,584   $  5,585,000
  1979

B-727-200       TWA            $  5,448,499   $          0   $    818,500
  1969

B-727-200       TWA            $  5,448,499   $          0   $    818,500
  1969

Totals                         $ 68,720,602   $ 14,885,048   $ 28,943,000

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

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

MD-80       03/15/98         Stage 3        13,660               27,240
Series
1986

B-737-200   11/30/99         Stage 2        66,730               57,800
1971

B-737-200   11/30/99         Stage 2        66,425               58,140
1971

B-737-200   09/30/99         Stage 2        33,230               50,700
ADV
1979

B-727-200   N/A(6)           Stage 2        44,860               66,025
1969

B-727-200   N/A(6)           Stage 2        44,330               66,080
1969
________________

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 two remaining 727-200
        non-advanced aircraft on a month-to-month basis.  The Partnership's
        727-200 non-advanced aircraft which was returned by TWA in November
        1994 was subsequently sold by the Partnership in June 1995 for net
        proceeds of approximately $752,000.

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.

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 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 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.  With the
exception of the Partnership's 737-200 advanced aircraft currently on-lease to
Delta, the General Partners do not believe that it is economically viable for
the Partnership to hushkit any of its Stage 2 aircraft. 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 highly 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, 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 Ge
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 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 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, 1995, the number of Unitholders was 7,482.

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.
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 entered into an agreement with Eastwind Airlines ("Eastwind")
in July 1995 to lease the Partnership's two 737-200 non-advanced aircraft,
which had previously been on-lease to USAir.  Eastwind placed the aircraft into
service in late August 1995.  Under the terms of the lease agreements, which
expire on November 30, 1999, Eastwind pays the Partnership a monthly lease rate
of $35,000 per aircraft.  In addition, the airline is required to pay the
Partnership an engine charge based on usage and is also required to pay
airframe maintenance charges effective August 1995.  The Partnership will fund
approximately $850,000 for heavy maintenance checks on each of the aircraft
on-lease to Eastwind.  These heavy maintenance or "Q" checks, which are
expected to be completed by mid-year, entail refurbishing the airframe and
repairing or replacing various time sensitive components of the aircraft,
excluding the engines.  It is anticipated that costs incurred by the
Partnership in connection  with the Q checks will be recovered by the
maintenance charges which are expected to be paid by Eastwind over the term of
the leases.  Any costs associated with the Q checks in excess of $850,000 will
be borne by Eastwind.  During the course of the Q checks, which are anticipated
to take approximately four to five weeks for each aircraft, the Partnership
will not receive rental payments from Eastwind.

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 these 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.

An agreement was reached with Delta in November 1995 to amend and extend the
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 new 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 $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.  As of
December 31, 1995, Continental had made principal payments on the loan totaling
$105,567.  Payments made on this loan are the reason for the decrease in the
Partnership's loan receivable balance, which totaled $172, 636 at December 31,
1995, compared to $239,994 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 over the
past several 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 $3,494,433, as compared to $2,785,283 at December 31, 1994.  The
$709,150 increase in unrestricted cash and cash equivalents is attributable to
the proceeds received from the sale in June 1995 of the 727-200 non-advanced
aircraft which TWA returned to Partnership subsequent to its lease expiration
in November 1994.  The Partnership's restricted cash balance of $321,797 at
December 31, 1995 remains unchanged from December 31, 1994.  The Partnership's
restricted cash is comprised of the balance of modification work financing
committed to Continental in accordance with the 1994 lease agreement.

At December 31, 1995, the Partnership had a rent receivable balance totaling
$58,758, compared to $0 at December 31, 1994.  The balance at December 31, 1995
represents maintenance and engine charges earned by the Partnership in
accordance with the lease agreements with Eastwind.

As of December 31, 1995, the Partnership had a security deposit balance
totaling $50,000, compared to $0 at December 31, 1994.  The balance at
December 31, 1995 represents a security deposit made to the Partnership by
Eastwind in conjunction with the lease executions for the Partnership's two
737-200 non-advanced aircraft in the third quarter of 1995.

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 $1,162,881 and
$3,185,357, respectively, which represent approximately $.24 and approximately
$.65 per Unit, respectively.  At December 31, 1995, the Partnership had a
distribution payable to Unitholders of $1,048,190 or approximately $.21 per
Unit.  This amount reflects the 1995 fourth quarter cash distribution 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 was generated from the leasing
of the Partnership's aircraft to commercial air carriers under triple net
operating leases.  The balance of the Partnership's revenue during 1995
consisted of interest income. 

1995 compared to 1994
For the twelve months ended December 31, 1995, the Partnership reported a net
loss of $170,290 as compared to a net loss of $783,993 for the corresponding
period in 1994.  The decrease in net loss is primarily attributable to a gain
on the June 1995 sale of the 727-200 non-advanced aircraft formerly on-lease to
TWA totaling $446,375, and, to a lesser extent, an increase in interest income
and a decline in depreciation expense.  These factors were partially offset by
a decrease in rental income during 1995 as compared to 1994.

Rental income for the twelve months ended December 31, 1995 was $4,837,439 as
compared to $5,067,500 in 1994.  The decrease in rental income is primarily
attributable to (i) the lease expiration in November 1994 and subsequent sale
in June 1995 of the 727-200 non-advanced aircraft formerly on-lease to TWA,
(ii) the reduction of the monthly lease rates paid by TWA as a result of the
lease extensions negotiated for the Partnership's two remaining 727-200
non-advanced aircraft in the fourth quarter of 1994, (iii) the temporary idle
status of the Partnership's two 737-200 non-advanced aircraft subsequent to the
expiration of the leases with USAir in May 1995 and (iv) 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 totaled $215,050
as compared to $112,523 in 1994.  The increase is primarily attributable to an
increase in the Partnership's invested cash balance, higher interest rates, and
interest income earned on the loan to Continental.

Depreciation expense for the twelve months ended December 31, 1995 was
$4,919,101 as compared to $5,224,476 for the corresponding period in 1994.  The
decrease is primarily attributable to the June 1995 sale of the 727-200
non-advanced aircraft, as discussed above.

General and administrative expenses for the twelve months ended December 31,
1995 totaled $191,715 as compared to $212,674 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.

For the year ended December 31, 1995, operating expenses totaled $49,707 as
compared to $71,789 in 1994.  The decrease is primarily attributable to a
decrease in insurance expenditures during 1995, partially offset by increased
storage and maintenance fees incurred by the Partnership during 1995, primarily
as a result of the idle status of the 727-200 non-advanced aircraft which was
returned to the Partnership by TWA in the fourth quarter of 1994 and
subsequently sold in June 1995.

1994 compared to 1993
For the twelve months ended December 31, 1994, the Partnership reported a net
loss of $783,993 as compared to a net loss of $17,876,870 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 writedown, the Partnership would have realized net income
of $389,152 for the year ended December 31, 1993.

Rental income for the twelve months ended December 31, 1994, was $5,067,500 as
compared to $4,979,382, respectively, for the corresponding period in 1993.
The increase is due to the new lease agreement with Continental which became
effective on March 15, 1994, partially offset by a reduction in income
resulting from the new lease agreement with TWA and the absence of revenue from
the aircraft formerly leased to Carnival Airlines that was sold in February
1994.

Interest income for the twelve months ended December 31, 1994 totaled $112,523
as compared to $104,832 for the corresponding period in 1993.  The increase is
mainly attributable to an increase in interest rates on the Partnership's cash
accounts, and interest income recorded on the loan to Continental.

Other income for the twelve months ended December 31, 1994 was $13,228 as
compared to $2,177,884 for the corresponding period in 1993.  Upon the
expiration of the previous lease with Continental in April 1993, $2,060,656
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 totaled $5,224,476 for the twelve months ended December
31, 1994 as compared to $6,135,828 for the corresponding period in 1993.  The
decrease is primarily attributable 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 $448,305 as
compared to $360,017 for the corresponding period in 1993.  Management fees are
based on rental income and operating cash flow.  The increase is attributable
to higher rental income during 1994 as a result of the new lease agreement with
Continental.

For the twelve months ended December 31, 1994, operating expenses were $71,789
as compared to $170,071 for the corresponding period in 1993.  Operating
expenses were higher in 1993 primarily as a result of storage, maintenance and
insurance costs incurred as a result of the idle status of the Partnership's
MD-80 Series aircraft.


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 the 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 CIS), 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,
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, 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 last
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, 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, L.P.
	EXHIBIT 13