<SEC-DOCUMENT>0001415889-21-000712.txt : 20210216
<SEC-HEADER>0001415889-21-000712.hdr.sgml : 20210216
<ACCEPTANCE-DATETIME>20210216174409
ACCESSION NUMBER:		0001415889-21-000712
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20210213
FILED AS OF DATE:		20210216
DATE AS OF CHANGE:		20210216

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Chen Jie
		CENTRAL INDEX KEY:			0001512202

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35121
		FILM NUMBER:		21641357

	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

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
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4-02162021_020247.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2021-02-13</periodOfReport>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001512202</rptOwnerCik>
            <rptOwnerName>Chen Jie</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>false</isDirector>
            <isOfficer>true</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
            <officerTitle>EVP &amp; MANAGING DIRECTOR, ASIA</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Air Lease Corporation - Class A Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2021-02-13</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>F</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>647</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>43.10</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>253861.103</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Air Lease Corporation - Class A Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>400</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Shares held for the reporting person's son under the Uniform Gifts to Minor Act. The reporting person disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission that the reporting person is the beneficial owner of these shares for purposes of Section 16 or for any other purpose.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Carol H. Forsyte, on behalf of Jie Chen, Managing Director, Asia (Power of Attorney on File)</signatureName>
        <signatureDate>2021-02-16</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
