MORGAN STANLEY AIRCRAFT FINANCE
8-K, 2000-07-14
EQUIPMENT RENTAL & LEASING, NEC
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                       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


                                 July 13, 2000
                       (Date of Earliest Event Reported)


                        MORGAN STANLEY AIRCRAFT FINANCE

           (Exact Name of Registrant as Specified in Trust Agreement)


                                    Delaware
         (State or Other Jurisdiction of Incorporation or Organization)

         333-56575                                   13-3375162
         (Commission File                            (IRS Employer
         Number)                                     Identification No.)


                        Morgan Stanley Aircraft Finance
                          c/o Wilmington Trust Company
                            1100 North Market Street
                              Rodney Square North
                        Wilmington, Delaware 19890-1000
                   Attention: Corporate Trust Administration
                                 (302) 651-1000


             (Address and Telephone Number, Including Area Code, of
                    Registrant's Principal Executive Office)


<PAGE>


Item 5.           Other Events

     Attached hereto as Exhibit A is a copy of a Monthly Report to Noteholders
dated July 13, 2000 sent to each holder of Notes due March 15, 2023 of Morgan
Stanley Aircraft Finance and the Cash Analysis of Financial Condition and
Results of Operations for the three month period from March 2000 to May 2000.


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<PAGE>


                                   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 hereto duly authorized.

                                            MORGAN STANLEY AIRCRAFT FINANCE


Date:    July 13, 2000                      By: /s/ Alexander Frank
                                               --------------------------
                                               Signatory Trustee


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<PAGE>


                                 EXHIBIT INDEX

Exhibit A   -   Report to Noteholders


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