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EXHIBIT 12

INTERNATIONAL LEASE FINANCE CORPORATION AND
SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED
CHARGES

AND PREFERRED STOCK DIVIDENDS


|                                                                                       |                                                  |                                                                  |      |           |         |      |      |           |         |      |       |           |         |   |      |           |         |   |      |           |         |  
|-------------------------------------------------------------------------------------- | ------------------------------------------------ | ---------------------------------------------------------------- | ---- | --------- | ------- | ---- | ---- | --------- | ------- | ---- | ----- | --------- | ------- | - | ---- | --------- | ------- | - | ---- | --------- | ------- | -
|                                                                                       |                                                  |                                                                 
|                                                                                       |                                                  | Years Ended December 31,                                        
|                                                                                       |                                                  |                                                                 
|                                                                                       |                                                  | 2001                                                             |      | 2000      |         | 1999 |      | 1998      |         | 1997
|                                                                                       |                                                  |                                                                  |      |           |         |      |      |           |         |     
|                                                                                       |                                                  |                                                                 
|                                                                                       |                                                  | (Dollars in thousands)                                          
|Earnings                                                                               |                                                  |                                                                  |      |           |         |      |      |           |         |      |       |           |         |   |      |           |         |   |      |          
|                                                                                       | Net income                                       |                                                                  | $    | 507,866   |         |      | $    | 468,901   |         |      | $     | 453,447   |         |   | $    | 369,352   |         |   | $    | 338,684   |        
|                                                                                       | Add:                                             |                                                                  |      |           |         |      |      |           |         |      |       |           |         |   |      |           |         |   |      |           |        
|                                                                                       |                                                  | Provision for income taxes(a)                                    |      |           | 269,224 |      |      |           | 237,292 |      |       |           | 249,958 |   |      |           | 192,922 |   |      |           | 187,475 |  
|                                                                                       |                                                  | Fixed charges                                                    |      |           | 905,826 |      |      |           | 894,146 |      |       |           | 807,495 |   |      |           | 778,817 |   |      |           | 754,246 |  
|                                                                                       | Less:                                            |                                                                  |      |           |         |      |      |           |         |      |       |           |         |   |      |           |         |   |      |           |        
|                                                                                       |                                                  | Capitalized interest                                             |      |           | 58,845  |      |      |           | 50,019  |      |       |           | 45,235  |   |      |           | 54,297  |   |      |           | 48,818  |  
|                                                                                       |                                                  |                                                                  |      |           |         |      |      |           |         |      |       |           |         |   |      |           |         |   |      |          
|                                                                                       | Earnings as adjusted (A)                         |                                                                  | $    | 1,624,071 |         |      | $    | 1,550,320 |         |      | $     | 1,465,665 |         |   | $    | 1,286,794 |         |   | $    | 1,231,587 |        
|                                                                                       |                                                  |                                                                  |      |           |         |      |      |           |         |      |       |           |         |   |      |           |         |   |      |          
|                                                                                       | Preferred dividend requirements                  |                                                                  | $    | 14,624    |         |      | $    | 18,570    |         |      | $     | 18,131    |         |   | $    | 16,965    |         |   | $    | 16,348    |        
|                                                                                       |                                                  | Ratio of income before provision for income taxes
	to net income |      |           | 153     | %    |      |           | 151     | %    |       |           | 155     | % |      |           | 152     | % |      |           | 155     | %
|                                                                                       |                                                  |                                                                  |      |           |         |      |      |           |         |      |       |           |         |   |      |           |         |   |      |          
|                                                                                       |                                                  | Preferred dividend factor on pretax basis                        |      |           | 22,375  |      |      |           | 28,041  |      |       |           | 28,103  |   |      |           | 25,787  |   |      |           | 25,339  |  
|                                                                                       |                                                  |                                                                  |      |           |         |      |      |           |         |      |       |           |         |   |      |           |         |   |      |          
|                                                                                       | Fixed charges                                    |                                                                  |      |           |         |      |      |           |         |      |       |           |         |   |      |           |         |   |      |           |        
|                                                                                       |                                                  | Interest expense                                                 |      |           | 792,611 |      |      |           | 773,539 |      |       |           | 686,767 |   |      |           | 639,964 |   |      |           | 642,321 |  
|                                                                                       |                                                  | Capitalized interest                                             |      |           | 58,845  |      |      |           | 50,019  |      |       |           | 45,235  |   |      |           | 54,297  |   |      |           | 48,818  |  
|                                                                                       |                                                  | Interest factor of rents                                         |      |           | 54,370  |      |      |           | 70,588  |      |       |           | 75,493  |   |      |           | 84,556  |   |      |           | 63,107  |  
|                                                                                       |                                                  |                                                                  |      |           |         |      |      |           |         |      |       |           |         |   |      |           |         |   |      |          
|                                                                                       | Fixed charges as adjusted (B)                    |                                                                  |      | 905,826   |         |      |      | 894,146   |         |      |       | 807,495   |         |   |      | 778,817   |         |   |      | 754,246   |        
|                                                                                       |                                                  |                                                                  |      |           |         |      |      |           |         |      |       |           |         |   |      |           |         |   |      |          
|                                                                                       | Fixed charges and preferred stock
	dividends (C) |                                                                  | $    | 928,201   |         |      | $    | 922,187   |         |      | $     | 835,598   |         |   | $    | 804,604   |         |   | $    | 779,585   |        
|                                                                                       |                                                  |                                                                  |      |           |         |      |      |           |         |      |       |           |         |   |      |           |         |   |      |          
|Ratio of earnings to fixed charges ((A) divided
	by (B))                               |                                                  |                                                                  | 1.79 | x         |         |      | 1.73 | x         |         |      | 1.82  | x         |         |   | 1.65 | x         |         |   | 1.63 | x        
|                                                                                       |                                                  |                                                                  |      |           |         |      |      |           |         |      |       |           |         |   |      |           |         |   |      |          
|Ratio of earnings to fixed charges and preferred
	stock dividends ((A) divided by (C)) |                                                  |                                                                  | 1.75 | x         |         |      | 1.68 | x         |         |      | 1.75x |           |         |   | 1.60 | x         |         |   | 1.58 | x        
|                                                                                       |                                                  |                                                                  |      |           |         |      |      |           |         |      |       |           |         |   |      |           |         |   |      |          






|    |  |                                                                                     
|--- |  | ------------------------------------------------------------------------------------
|(a) |  | Income taxes related to cumulative effect of
	accounting change is included in 2001.