Exhibit 10.1
Extension Letter

To:  the Addressees listed in Schedule 2

11 May 2009
Dear Sirs
Facility Agreement dated 18 May 2004 relating to the financing of certain Airbus
aircraft

1.   We refer to an aircraft facility agreement dated 18 May 2004 (as amended
from time to time) between the banks and financial institutions named therein
(as lenders), Bank of Scotland plc, London Branch (as lead manager, security
trustee and agent), Bank of Scotland plc, Frankfurt Branch (as lead manager),
Bank of Scotland plc, Paris Branch (as lead manager), Whitney Leasing Limited
(as borrower), Aircraft SPC-12, Inc. (as borrower parent) and International
Lease Finance Corporation (as guarantor and subordinated lender) (the “Facility
Agreement”).   2.   Save as otherwise provided herein, words and expressions
used in this extension letter shall have the same meaning ascribed to them in
the Facility Agreement.   3.   The Borrower, the Borrower Parent and the
Guarantor have requested that the Availability Period be extended and that
certain further amendments (as more particularly described below) are made to
the terms of the Facility Agreement. The Agent (for and on behalf of itself and
the Lenders), the Security Trustee, the Lead Managers and the Original Lender
will consent to this request upon and subject to the terms of this extension
letter.   4.   Each of the parties hereto hereby agrees that with effect from
the date hereof:

  (a)   the Availability Period is extended to cover the period up to and
including 30 June 2010; and     (b)   Clause 2.1 (as previously amended) shall
be further amended by deleting the existing sub-paragraph (z) contained therein
(which reads “(z) three billion six hundred and forty three million, six hundred
and sixty thousand Dollars (US$3,643,660,000.00)”) and replacing the same with a
new sub-paragraph (z) reading as follows:         “..(z) four billion, six
hundred and forty three million, six hundred and sixty thousand Dollars
(US$4,643,660,000.00); and..”     (c)   the list of Eligible Aircraft set out in
Schedule 5 Part A of the Facility Agreement shall be replaced by the list of
aircraft set out in Schedule 1 hereto. All references to ‘Eligible Aircraft’ in
the Facility Agreement shall henceforth be treated as a reference to Schedule 1
hereto and the Facility Agreement shall be read and construed accordingly;

5.   Each of the Borrower, the Borrower Parent and the Guarantor hereby repeats
the representations and warranties set out in Clause 6.1 and Clause 6.2 of the
Facility Agreement, to the extent relevant to each party.

 

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6.   Save as specified herein, the terms and conditions of the Facility
Agreement shall continue in full force and effect.   7.   A person who is not a
party to this extension letter shall have no rights under the Contracts (Rights
of Third Parties) Act 1999.   8.   This extension letter shall be governed by
and construed in accordance with English law.   9.   The provisions of Clause
23.2 to Clause 23.6 inclusive of the Facility Agreement are hereby incorporated
into this extension letter mutatis mutandis, with all references therein to
‘this Agreement’ being treated as a reference to this extension letter.

Yours faithfully

                /s/ Pamela S. Hendry         WHITNEY LEASING LIMITED           
        /s/ Pamela S. Hendry        AIRCRAFT SPC-12, INC.                    /s/
Pamela S. Hendry        INTERNATIONAL LEASE FINANCE CORPORATION                 

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We hereby agree, acknowledge and consent to the terms of this extension letter
The Agent

                /s/ Mike Gear        BANK OF SCOTLAND PLC                The
Security Trustee                    /s/ Mike Gear        BANK OF SCOTLAND PLC   
          The British Lead Manager                    /s/ Mike Gear        BANK
OF SCOTLAND PLC, LONDON BRANCH                The French Lead Manager           
          /s/ Mike Gear        BANK OF SCOTLAND PLC, PARIS BRANCH               
The German Lead Manager                    /s/ Mike Gear        BANK OF SCOTLAND
PLC, FRANKFURT BRANCH       

The Original Lender

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                /s/ Mike Gear        BANK OF SCOTLAND PLC               

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SCHEDULE 1
Details of Proposed Aircraft and Proposed Aircraft Delivery Schedule

                          DELIVERY   ENGINE     NO.   MODEL   DATE   MODEL  
OPERATOR
1
  A320-214   7-May-09   CFM56-5B4/3   *
 
               
2
  A319-100   11-May-09   V2527M-A5   *
 
               
3
  A320-214   14-May-09   CFM56-5B4/3   *
 
               
4
  A320-200   19-May-09   CFM56-5B4/3   *
 
               
5
  A319-132   20-May-09   V2524-A5   *
 
               
6
  A330-243   26-May-09   TRENT 772B-60   *
 
               
7
  A321-211   29-May-09   CFM56-5B3/3   *
 
               
8
  A321-231   30-Jun-09   V2533-A5   *
 
               
9
  A321-231   1-Jul-09   V2533-A5   *
 
               
10
  A330-243   1-Jul-09   TRENT 772C-60   *
 
               
11
  A320-200   1-Nov-09   CFM56-5B4/3   *
 
               
12
  A321-231   1-Nov-09   V2533-A5   *
 
               
13.
  A321-200   1-Dec-09   V2533-A5   *
 
               
14
  A319-100   1-Apr-10   CFM56-5B6/3   *
 
               
15.
  A320-200   1-May-10   CFM56-5B4/3   *
 
               
16.
  A321-200   1-May-10   V2533-A5   *
 
               
17
  A321-200   1-May-10   CFM56-5B4/3   *
 
               
18
  A321-200   1-Jun-10   CFM56-5B4/3   *

 

*   Indicates that certain information contained herein has been omitted and
filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.

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SCHEDULE 2
Addressees

1   Bank of Scotland plc (acting in its capacity as Agent for and on behalf of
the Lenders (each as defined in the Facility Agreement),   2   Bank of Scotland
plc (acting in its capacity as Security Trustee for and on behalf of itself, the
Lead Managers and the Lenders (each as defined in the Facility Agreement),   3  
Bank of Scotland plc, London Branch (acting in its capacity as British Lead
Manager (as defined in the Facility Agreement),   4   Bank of Scotland plc,
Paris Branch (acting in its capacity as French Lead Manager (as defined in the
Facility Agreement),   5   Bank of Scotland plc, Frankfurt Branch (acting in its
capacity as German Lead Manager (as defined in the Facility Agreement), and   6
  Bank of Scotland plc (acting in its capacity as Original Lender (as defined in
the Facility Agreement)

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