SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549


FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES AND
EXCHANGE ACT OF 1934


September 30, 2004 (Date of Earliest Event Reported)


AIRPLANES LIMITED		AIRPLANES U.S. TRUST
(Exact Name of Registrants as Specified in Memorandum of Association or Trust Agreement)



Jersey, Channel Islands		Delaware
(State or Other Jurisdiction of Incorporation or Organization)

33-99970-01		13-3521640
(Commission File Number)		(IRS Employer Identification No.)

Airplanes Limited		Airplanes U.S. Trust
22 Grenville Street		1100 North Market Street
St. Helier		Rodney Square North
Jersey, JE4 8PX		Wilmington, Delaware
Channel Islands		19890-0001
(011 44 1534 609 000)		(1-302-651-1000)
(Addresses and Telephone Numbers, Including Area Codes, of Registrants' Principal Executive Offices)

Item 8.01. Other Events

Airplanes Limited has issued the press relese attached at Exibit 99.1 which is incorporated by reference herein.

Item 9.01. Financial Statements and Exhibits

99.01 Press Release dated September 30, 2004.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, each of the registrants has duly caused this report to be signed on its behalf by the undersigned hereto duly authorized.

	AIRPLANES LIMITED


Date: September 30, 2004	/s/ Roy M. Dantzic*
	Director and Officer


Date: September 30, 2004	AIRPLANES U.S. TRUST

	/s/ Roy M . Dantzic*
	Controlling Trustee and Officer


	*By: /s/ Gerard Hastings
	Attorney-in-Fact

EXHIBIT INDEX

Number		Description
99.01	-	Press Release dated September 30, 2004

AIRPLANES LTD 8-K