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<?xml version="1.0" encoding="windows-1252"?> |
<ownershipDocument> |
| <schemaVersion> X0306 </schemaVersion> |
| <documentType> 4 </documentType> |
| <periodOfReport> 2022-05-11 </periodOfReport> |
| <issuer> |
| | <issuerCik> 0001487712 </issuerCik> |
| | <issuerName> AIR LEASE CORP </issuerName> |
| | <issuerTradingSymbol> AL </issuerTradingSymbol> |
| | </issuer> |
| <reportingOwner> |
| | <reportingOwnerId> |
| | | <rptOwnerCik> 0001244781 </rptOwnerCik> |
| | | <rptOwnerName> UDVAR-HAZY STEVEN F </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> true </isDirector> |
| | | <isOfficer> true </isOfficer> |
| | | <isTenPercentOwner> false </isTenPercentOwner> |
| | | <isOther> false </isOther> |
| | | <officerTitle> EXECUTIVE CHAIRMAN </officerTitle> |
| | | <otherText></otherText> |
| | | </reportingOwnerRelationship> |
| | </reportingOwner> |
| <nonDerivativeTable> |
| | <nonDerivativeTransaction> |
| | | <securityTitle> |
| <value> Air Lease Corporation - Class A Common Stock </value> |
| </securityTitle> |
| | | <transactionDate> |
| <value> 2022-05-11 </value> |
| </transactionDate> |
| | | <transactionCoding> |
| <transactionFormType> 4 </transactionFormType> |
| <transactionCode> P </transactionCode> |
| <equitySwapInvolved> 0 </equitySwapInvolved> |
| </transactionCoding> |
| | | <transactionAmounts> |
| <transactionShares> |
| <value> 3000 </value> |
| </transactionShares> |
| <transactionPricePerShare> |
| <value> 35.60 </value> |
| </transactionPricePerShare> |
| <transactionAcquiredDisposedCode> |
| <value> A </value> |
| </transactionAcquiredDisposedCode> |
| </transactionAmounts> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 1204558 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> I </value> |
| </directOrIndirectOwnership> |
| <natureOfOwnership> |
| <value> See footnote </value> |
| <footnoteId id="F1"/> |
| </natureOfOwnership> |
| </ownershipNature> |
| | | </nonDerivativeTransaction> |
| | <nonDerivativeTransaction> |
| | | <securityTitle> |
| <value> Air Lease Corporation - Class A Common Stock </value> |
| </securityTitle> |
| | | <transactionDate> |
| <value> 2022-05-12 </value> |
| </transactionDate> |
| | | <transactionCoding> |
| <transactionFormType> 4 </transactionFormType> |
| <transactionCode> P </transactionCode> |
| <equitySwapInvolved> 0 </equitySwapInvolved> |
| </transactionCoding> |
| | | <transactionAmounts> |
| <transactionShares> |
| <value> 1000 </value> |
| </transactionShares> |
| <transactionPricePerShare> |
| <value> 33.9834 </value> |
| </transactionPricePerShare> |
| <transactionAcquiredDisposedCode> |
| <value> A </value> |
| </transactionAcquiredDisposedCode> |
| </transactionAmounts> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 1205558 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> I </value> |
| </directOrIndirectOwnership> |
| <natureOfOwnership> |
| <value> See footnote </value> |
| <footnoteId id="F1"/> |
| </natureOfOwnership> |
| </ownershipNature> |
| | | </nonDerivativeTransaction> |
| | <nonDerivativeTransaction> |
| | | <securityTitle> |
| <value> Air Lease Corporation - Class A Common Stock </value> |
| </securityTitle> |
| | | <transactionDate> |
| <value> 2022-05-12 </value> |
| </transactionDate> |
| | | <transactionCoding> |
| <transactionFormType> 4 </transactionFormType> |
| <transactionCode> P </transactionCode> |
| <equitySwapInvolved> 0 </equitySwapInvolved> |
| </transactionCoding> |
| | | <transactionAmounts> |
| <transactionShares> |
| <value> 1000 </value> |
| </transactionShares> |
| <transactionPricePerShare> |
| <value> 33.7464 </value> |
| <footnoteId id="F2"/> |
| </transactionPricePerShare> |
| <transactionAcquiredDisposedCode> |
| <value> A </value> |
| </transactionAcquiredDisposedCode> |
| </transactionAmounts> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 36445 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> I </value> |
| </directOrIndirectOwnership> |
| <natureOfOwnership> |
| <value> See footnote </value> |
| <footnoteId id="F3"/> |
| </natureOfOwnership> |
| </ownershipNature> |
| | | </nonDerivativeTransaction> |
| | <nonDerivativeHolding> |
| | | <securityTitle> |
| <value> Air Lease Corporation - Class A Common Stock </value> |
| </securityTitle> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 1322911 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> D </value> |
| </directOrIndirectOwnership> |
| <natureOfOwnership> |
| <value></value> |
| </natureOfOwnership> |
| </ownershipNature> |
| | | </nonDerivativeHolding> |
| | <nonDerivativeHolding> |
| | | <securityTitle> |
| <value> Air Lease Corporation - Class A Common Stock </value> |
| </securityTitle> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 16250 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> I </value> |
| </directOrIndirectOwnership> |
| <natureOfOwnership> |
| <value> See footnote </value> |
| <footnoteId id="F4"/> |
| </natureOfOwnership> |
| </ownershipNature> |
| | | </nonDerivativeHolding> |
| | <nonDerivativeHolding> |
| | | <securityTitle> |
| <value> Air Lease Corporation - Class A Common Stock </value> |
| </securityTitle> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 19200 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> I </value> |
| </directOrIndirectOwnership> |
| <natureOfOwnership> |
| <value> See footnote </value> |
| <footnoteId id="F4"/> |
| </natureOfOwnership> |
| </ownershipNature> |
| | | </nonDerivativeHolding> |
| | <nonDerivativeHolding> |
| | | <securityTitle> |
| <value> Air Lease Corporation - Class A Common Stock </value> |
| </securityTitle> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 16700 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> I </value> |
| </directOrIndirectOwnership> |
| <natureOfOwnership> |
| <value> See footnote </value> |
| <footnoteId id="F5"/> |
| </natureOfOwnership> |
| </ownershipNature> |
| | | </nonDerivativeHolding> |
| | <nonDerivativeHolding> |
| | | <securityTitle> |
| <value> Air Lease Corporation - Class A Common Stock </value> |
| </securityTitle> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 24200 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> I </value> |
| </directOrIndirectOwnership> |
| <natureOfOwnership> |
| <value> See footnote </value> |
| <footnoteId id="F5"/> |
| </natureOfOwnership> |
| </ownershipNature> |
| | | </nonDerivativeHolding> |
| | <nonDerivativeHolding> |
| | | <securityTitle> |
| <value> Air Lease Corporation - Class A Common Stock </value> |
| </securityTitle> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 3200 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> I </value> |
| </directOrIndirectOwnership> |
| <natureOfOwnership> |
| <value> See footnote </value> |
| <footnoteId id="F6"/> |
| </natureOfOwnership> |
| </ownershipNature> |
| | | </nonDerivativeHolding> |
| | <nonDerivativeHolding> |
| | | <securityTitle> |
| <value> Air Lease Corporation - Class A Common Stock </value> |
| </securityTitle> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 3000 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> I </value> |
| </directOrIndirectOwnership> |
| <natureOfOwnership> |
| <value> See footnote </value> |
| <footnoteId id="F6"/> |
| </natureOfOwnership> |
| </ownershipNature> |
| | | </nonDerivativeHolding> |
| | <nonDerivativeHolding> |
| | | <securityTitle> |
| <value> Air Lease Corporation - Class A Common Stock </value> |
| </securityTitle> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 2200 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> I </value> |
| </directOrIndirectOwnership> |
| <natureOfOwnership> |
| <value> See footnote </value> |
| <footnoteId id="F6"/> |
| </natureOfOwnership> |
| </ownershipNature> |
| | | </nonDerivativeHolding> |
| | <nonDerivativeHolding> |
| | | <securityTitle> |
| <value> Air Lease Corporation- Class A Common Stock </value> |
| </securityTitle> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 1000 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> I </value> |
| </directOrIndirectOwnership> |
| <natureOfOwnership> |
| <value> See footnote </value> |
| <footnoteId id="F6"/> |
| </natureOfOwnership> |
| </ownershipNature> |
| | | </nonDerivativeHolding> |
| | <nonDerivativeHolding> |
| | | <securityTitle> |
| <value> Air Lease Corporation - Class A Common Stock </value> |
| </securityTitle> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 36000 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> I </value> |
| </directOrIndirectOwnership> |
| <natureOfOwnership> |
| <value> See footnote </value> |
| <footnoteId id="F7"/> |
| </natureOfOwnership> |
| </ownershipNature> |
| | | </nonDerivativeHolding> |
| | <nonDerivativeHolding> |
| | | <securityTitle> |
| <value> Air Lease Corporation - Class A Common Stock </value> |
| </securityTitle> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 329350 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> I </value> |
| </directOrIndirectOwnership> |
| <natureOfOwnership> |
| <value> See footnote </value> |
| <footnoteId id="F8"/> |
| </natureOfOwnership> |
| </ownershipNature> |
| | | </nonDerivativeHolding> |
| | <nonDerivativeHolding> |
| | | <securityTitle> |
| <value> Air Lease Corporation - Class A Common Stock </value> |
| </securityTitle> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 102000 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> I </value> |
| </directOrIndirectOwnership> |
| <natureOfOwnership> |
| <value> See footnote </value> |
| <footnoteId id="F9"/> |
| </natureOfOwnership> |
| </ownershipNature> |
| | | </nonDerivativeHolding> |
| | <nonDerivativeHolding> |
| | | <securityTitle> |
| <value> Air Lease Corporation - Class A Common Stock </value> |
| </securityTitle> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 2705000 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> I </value> |
| </directOrIndirectOwnership> |
| <natureOfOwnership> |
| <value> See footnote </value> |
| <footnoteId id="F10"/> |
| </natureOfOwnership> |
| </ownershipNature> |
| | | </nonDerivativeHolding> |
| | </nonDerivativeTable> |
| <derivativeTable></derivativeTable> |
| <footnotes> |
| | <footnote id="F1"> These shares are held by the Udvar-Hazy Separate Property Trust, of which the reporting person is the trustee. </footnote> |
| | <footnote id="F2"> The price reported in Column 4 is the weighted average purchase price. These shares were purchased in multiple transactions at prices ranging from $33.67 to $33.777, inclusive. 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 purchased at each separate price within the ranges set forth in this footnote 2 to this Form 4. </footnote> |
| | <footnote id="F3"> These shares are owned by the reporting person's wife. The reporting person expressly 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 to be an admission of beneficial ownership of the reported shares for purposes of Section 16 or for any other purpose. </footnote> |
| | <footnote id="F4"> These shares are owned by one of the reporting person's daughters. The reporting person expressly 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 to be an admission of beneficial ownership of the reported shares for purposes of Section 16 or for any other purpose. </footnote> |
| | <footnote id="F5"> These shares are owned by one of the reporting person's sons. The reporting person expressly 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 of beneficial ownership of the reported shares for purposes of Section 16 or for any other purpose. </footnote> |
| | <footnote id="F6"> These shares are held by the reporting person as custodian for one of the reporting person's grandchildren under the California Uniform Transfers to Minors Act. The reporting person expressly 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 of beneficial ownership of the reported shares for purposes of Section 16 or for any other purpose. </footnote> |
| | <footnote id="F7"> These shares are held by Emerald Financial LLC. A separate trust for each of the reporting person's four children owns 25% of the membership interests of Emerald LLC. Inclusion of these shares in this report shall not be deemed to be an admission of beneficial ownership of the reported shares for purposes of Section 16 or for any other purpose. </footnote> |
| | <footnote id="F8"> These shares are held by Air Intercontinental, Inc., of which the reporting person is the sole stockholder. </footnote> |
| | <footnote id="F9"> These shares are held by Ocean Equities, Inc. which is 100% owned by the Hazy Family Community Property Trust 5/28/85 of which the reporting person is the trustee and beneficial owner. </footnote> |
| | <footnote id="F10"> These shares are held by the Hazy Family Community Property Trust 5/28/85, of which the reporting person is the trustee and beneficial owner. </footnote> |
| | </footnotes> |
| <ownerSignature> |
| | <signatureName> /s/ Carol H. Forsyte, Attorney-in-Fact </signatureName> |
| | <signatureDate> 2022-05-12 </signatureDate> |
| | </ownerSignature> |
| </ownershipDocument> |