<SEC-DOCUMENT>0002012727-26-000002.txt : 20260105
<SEC-HEADER>0002012727-26-000002.hdr.sgml : 20260105
<ACCEPTANCE-DATETIME>20260105210017
ACCESSION NUMBER:		0002012727-26-000002
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20251231
FILED AS OF DATE:		20260105
DATE AS OF CHANGE:		20260105

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Beker David
		CENTRAL INDEX KEY:			0002012727
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35121
		FILM NUMBER:		26509139

	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]
		ORGANIZATION NAME:           	07 Trade & Services
		EIN:				271840403
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

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

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

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AIR LEASE Corp
		DATE OF NAME CHANGE:	20100323
</SEC-HEADER>
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<SEQUENCE>1
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    <periodOfReport>2025-12-31</periodOfReport>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002012727</rptOwnerCik>
            <rptOwnerName>Beker David</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, MARKETING</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable>
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            <securityTitle>
                <value>Air Lease Corporation - Class A Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-12-31</value>
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            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
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                </transactionShares>
                <transactionPricePerShare>
                    <value>64.23</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
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                <transactionPricePerShare>
                    <value>64.23</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
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        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Air Lease Corporation - Class A Common Stock</value>
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                <value>2025-12-31</value>
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            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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                <transactionShares>
                    <value>16403</value>
                    <footnoteId id="F3"/>
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                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
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                <sharesOwnedFollowingTransaction>
                    <value>46493</value>
                </sharesOwnedFollowingTransaction>
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                <directOrIndirectOwnership>
                    <value>D</value>
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        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Air Lease Corporation - Class A Common Stock</value>
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            <transactionCoding>
                <transactionFormType>4</transactionFormType>
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                    <value>8330</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>64.23</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
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                <sharesOwnedFollowingTransaction>
                    <value>38163</value>
                </sharesOwnedFollowingTransaction>
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                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Air Lease Corporation - Class A Common Stock</value>
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                <transactionFormType>4</transactionFormType>
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                <transactionShares>
                    <value>1846</value>
                    <footnoteId id="F4"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>64.23</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>36317</value>
                </sharesOwnedFollowingTransaction>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
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        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Shares issued upon the vesting of performance-based restricted stock units granted to the reporting person in 2023 under the Air Lease Corporation 2014 Equity Incentive Plan.</footnote>
        <footnote id="F2">Represents performance-based restricted stock units granted to the reporting person in 2024 that were scheduled to vest or be forfeited based on the attainment of performance-based vesting conditions during the performance period ending on December 31, 2026. The vesting of the portion reflected herein was accelerated in order to mitigate the potential impact of Sections 280G and 4999 of the Internal Revenue Code of 1986, as amended, on the Issuer and certain of its employees in connection with the pending transactions contemplated by the Agreement and Plan of Merger, dated September 1, 2025, by and among the Issuer, Sumisho Air Lease Corporation Designated Activity Company (formerly known as Gladiatora Designated Activity Company) and Takeoff Merger Sub Inc. (the &quot;Section 280G Mitigation&quot;).</footnote>
        <footnote id="F3">Represents performance-based restricted stock units granted to the reporting person in 2025 that were scheduled to vest or be forfeited based on the attainment of performance-based vesting conditions during the performance period ending on December 31, 2027. The vesting of the portion reflected herein was accelerated in connection with the Section 280G Mitigation.</footnote>
        <footnote id="F4">Represents shares retained by the Issuer for tax withholding purposes in connection with the net-settlement of time-based restricted stock units granted to the reporting person in 2023, 2024 and 2025 that were scheduled to vest on February 25, 2026. The vesting of these restricted stock units was accelerated in connection with the Section 280G Mitigation.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Lauren Jaeger, Attorney-in-Fact</signatureName>
        <signatureDate>2026-01-05</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</DOCUMENT>
</SEC-DOCUMENT>
