<SEC-DOCUMENT>0001179110-16-031375.txt : 20161109
<SEC-HEADER>0001179110-16-031375.hdr.sgml : 20161109
<ACCEPTANCE-DATETIME>20161109163410
ACCESSION NUMBER:		0001179110-16-031375
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20161108
FILED AS OF DATE:		20161109
DATE AS OF CHANGE:		20161109

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AIR LEASE CORP
		CENTRAL INDEX KEY:			0001487712
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-EQUIPMENT RENTAL & LEASING, NEC [7359]
		IRS NUMBER:				271840403
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		2000 AVENUE OF THE STARS
		STREET 2:		SUITE 1000-N
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90067
		BUSINESS PHONE:		(310) 553-0555

	MAIL ADDRESS:	
		STREET 1:		2000 AVENUE OF THE STARS
		STREET 2:		SUITE 1000-N
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90067

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AIR LEASE Corp
		DATE OF NAME CHANGE:	20100323

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Milton Robert A
		CENTRAL INDEX KEY:			0001339903

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35121
		FILM NUMBER:		161984707

	MAIL ADDRESS:	
		STREET 1:		C/O AIR LEASE CORPORATION
		STREET 2:		2000 AVENUE OF THE STARS, SUITE 1000N
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90067
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2016-11-08</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001487712</issuerCik>
        <issuerName>AIR LEASE CORP</issuerName>
        <issuerTradingSymbol>AL</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001339903</rptOwnerCik>
            <rptOwnerName>Milton Robert A</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O AIR LEASE CORPORATION,</rptOwnerStreet1>
            <rptOwnerStreet2>2000 AVENUE OF THE STARS, SUITE 1000N</rptOwnerStreet2>
            <rptOwnerCity>LOS ANGELES</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>90067</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Air Lease Corporation - Class A Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2016-11-08</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>30000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>031.7268</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>30889</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">$31.7268 is the weighted average sales price. These shares were sold in multiple transactions at prices ranging from $31.49 to $31.92. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote 1 to this Form 4.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Courtney McKeown, on behalf of Robert A. Milton (Substitute Power of Attorney Attached)</signatureName>
        <signatureDate>2016-11-09</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>ex-24subpoa2016.txt
<TEXT>
                Substitution of Power of Attorney

Pursuant to a Power of Attorney, each of the following persons
named below on
the date indicated:

     Marc H. Baer            February 28, 2013
     Jie Chen                February 28, 2013
     Alex A. Khatibi         February 27, 2013
     Grant A. Levy           February 28, 2013
     John D. Poerschke       March 1, 2013
     John L. Plueger         February 26, 2013
     Steven F. Udvar-Hazy    February 27, 2013
     Gregory B. Willis       February 27, 2013
     Matthew J. Hart         May 8, 2013
     Cheryl Gordon Krongard  December 13, 2013
     Robert A. Milton        March 4, 2013
     Ian M. Saines           March 13, 2013
     Dr. Ronald D. Sugar     April 30, 2013

has appointed me, his or her true and lawful attorney-in-fact
and agent, with full power of substitution and resubstitution,
for each of his or her name, place and stead, in any and all
capacities, to prepare, sign and  file any and all Forms 3, 4,
5 and 144 and any successor Forms (and any amendments or
corrections to all such forms, and any related documents or
items, including a Form ID and any other documents necessary
to obtain codes and passwords necessary to  make electronic
filings) which I deem needed or desirable with
the Securities and Exchange Commission and any and all stock
exchanges, granting unto me full power and authority to do and
perform each and every act and thing necessary or appropriate
in connection with this power and authority, hereby ratifying
and confirming all that I or my substitute or substitutes, may
lawfully do or cause to be done by virtue thereof.  Each of
the above persons has provided that this Power of Attorney
shall remain in full force and effect until each person is no
longer required to file Forms 3, 4, 5 and 144 with respect to
his or her holdings of and transactions in
securities issued by Air Lease Corporation, unless earlier
revoked by each such person in a signed writing delivered to
me.

Therefore, pursuant to the above described power and authority
conferred upon me, I hereby constitute and appoint Courtney
McKeown to be my true and lawful substitute, to act in my
place and stead, in any and all capacities pursuant to said
above described power and authority.

                                  By: /s/ Carol H. Forsyte
                                 Date:    November 7, 2016
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
