Bulk transfer coefficients are derived using latent heat flux, stress magnitude, and mean quantity data obtained aboard a National Oceanic and Atmospheric Administration research aircraft flying over the far western equatorial Pacific Ocean. At wind speeds less than about 4 m s-1, the bulk transfer coefficients increase rapidly with decreasing wind speed. The validity of the inertial dissipation method for deriving turbulent fluxes in low wind speed conditions is tested using the aircraft data. At wind speeds below 4 m s-1, dissipation-derived fluxes tend to be smaller than the corresponding eddy correlation fluxes by about 10--20%. ¿ American Geophysical Union 1995