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EXHIBIT 8
LIST OF DIRECT AIRCRAFT OWNING SUBSIDIARIES OF AERCO LIMITED
AS OF SEPTEMBER 29, 2000
<TABLE>
<CAPTION>
COUNTRY OF
COMPANY NAME (%) HELD INCORPORATION
------------ -------- -------------
<S> <C> <C>
AerCo Ireland II Limited*................................... 100.00 Ireland
AerCo Ireland Limited*...................................... 100.00 Ireland
AerFi POL Inc............................................... 100.00 United States
AerCoUSA Inc*............................................... 100.00 United States
Aircraft Lease Portfolio Securitization 94-1 Limited*....... 100.00 Jersey
Pergola Limited*............................................ 100.00 Ireland
Baltic AirLease II LLC...................................... 100.00 Isle of Man
Baltic AirLease III LLC..................................... 100.00 Isle of Man
Gustav Leasing I Limited.................................... 100.00 Ireland
Gustav Leasing IV Limited................................... 100.00 Ireland
Gustav Leasing V Limited.................................... 100.00 Ireland
Gustav Leasing XI Limited................................... 100.00 Ireland
Gustav Leasing XIII Limited................................. 100.00 Ireland
Gustav Leasing XIV Limited.................................. 100.00 Ireland
</TABLE>
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* Indicates companies in existence as of March 31, 2000.
