-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, IvLo6FJff7GpQiCosMfn6vL4eUhtDb60eW3lnADvFa8Ugt5+RXYAnNvvvQYe5BLS 5o7ybG/jR75oKEelgm3UUg== 0001092306-03-000195.txt : 20030508 0001092306-03-000195.hdr.sgml : 20030508 20030508142449 ACCESSION NUMBER: 0001092306-03-000195 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030429 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20030508 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AIRLEASE LTD CENTRAL INDEX KEY: 0000799033 STANDARD INDUSTRIAL CLASSIFICATION: FINANCE LESSORS [6172] IRS NUMBER: 943008908 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-09259 FILM NUMBER: 03687846 BUSINESS ADDRESS: STREET 1: 555 CALIFORNIA STREET STREET 2: 4TH FLOOR CITY: SAN FRANCISCO STATE: CA ZIP: 94104 BUSINESS PHONE: 4157651814 MAIL ADDRESS: STREET 1: 555 CALIFORNIA STREET STREET 2: 4TH FLOOR CITY: SAN FRANCISCO STATE: CA ZIP: 94104 8-K 1 alform8k.txt FORM 8-K DATED APRIL 29, 2003 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ___________ FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 APRIL 29, 2003 ________________________________________________ Date of Report (Date of earliest event reported) AIRLEASE LTD., A CALIFORNIA LIMITED PARTNERSHIP ______________________________________________________ (Exact name of registrant as specified in its charter) CALIFORNIA 1-9259 94-3008908 ________________________________________________________________________________ (State or other jurisdiction (Commission File (I.R.S. Employer of incorporation) Number) Identification No.) 555 CALIFORNIA STREET, 4TH FLOOR, SAN FRANCISCO, CALIFORNIA 94104 ________________________________________________________________________________ (Address of principal executive offices) (Zip Code) (415) 765-1814 __________________________________________________ Registrant's telephone number, including area code INAPPLICABLE ____________________________________________________________ (Former name or former address if changed since last report) Exhibit Index located on page 2. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS (a) Not applicable (b) Not applicable (c) Exhibits NUMBER EXHIBIT 99.1 Press Release dated April 29, 2003. ITEM 9. REGULATION FD DISCLOSURE The information below included in this Current Report on Form 8-K is furnished pursuant to Item 12 of Form 8-K, "Results of Operations and Financial Condition," and is reported under this Item 9 in accordance with SEC Release No. 33-8216. On April 29, 2003, Airlease Ltd., A California Limited Partnership issued a press release announcing its results for the quarter ended March 31, 2003. 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AIRLEASE LTD., A CALIFORNIA LIMITED PARTNERSHIP By: Airlease Management Services, Inc. General Partner By: /s/ DAVID B. GEBLER ______________________________ David B. Gebler, Chairman, Chief Executive Officer Dated: May 8, 2003 3 EX-99 3 ex99-1.txt EXHIBIT 99.1 - PRESS RELEASE DATED APRIL 29, 2003 EXHIBIT 99.1 Contact: Jad Mansour (415) 765-1814 AIRLEASE LTD. ANNOUNCES FIRST QUARTER RESULTS SAN FRANCISCO, April 29 - Airlease Ltd., A California Limited Partnership (OTCBB - AIRL), today reported a first quarter loss of $458,000, compared with last year's first quarter loss of $422,000. Revenues for the first quarter of 2003 were $476,000, compared with last year's first quarter revenues of $859,000. The revenue reductions are primarily due to lower operating lease rental income associated with the two aircraft on lease to CSI Aviation Services, as the leases were extended in the fourth quarter of 2002 at a reduced monthly rental rate that reflects current market conditions; and the scheduled decline in finance lease income in 2003 associated with the aircraft leased to FedEx. Expenses for the first quarter of 2003 were $934,000, a decrease of $347,000 from $1,281,000 for the comparable 2002 period. The decrease in expenses is primarily due to lower depreciation expenses as a result of a smaller depreciable base associated with the three off-lease aircraft. The depreciable base of the three off-lease aircraft was reduced in the third quarter of 2002 as a result of an impairment charge of approximately $11.1 million that reduced the value of the aircraft. In addition, management fees and taxes were lower due to a smaller asset base and lower revenues. The first-quarter cash distribution of 5 cents per unit was declared on March 14, 2003 for unitholders of record on March 31, 2003, payable May 15, 2003. (SEE OVER) Airlease Ltd., A California Limited Partnership FOR THE THREE MONTHS ENDED MARCH 31 (Unaudited; in thousands except per unit amounts) 2003 2002 ______ ______ Revenues $ 476 $ 859 Expenses 934 1,281 Net loss $(458) $ (422) Net loss allocated to limited partners $ (454) $ (418) Net loss per partnership unit $(0.10) $(0.09) Cash distributions declared per partnership unit $ 0.05 $ 0.11 Total units outstanding 4,671,717 4,671,717 AT MARCH 31, 2003 (unaudited) Total partners' equity $25,063,000 Limited partner equity per unit $5.36 4/29/03 -----END PRIVACY-ENHANCED MESSAGE-----