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EXHIBIT 12.1

INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK
DIVIDENDS FOR THE NINE MONTHS ENDED SEPTEMBER, 2001 AND 2000
(Dollars in thousands)

|                                                                                    |                                           |                            |         |             |         |      |         |           |         | 
|----------------------------------------------------------------------------------- | ----------------------------------------- | -------------------------- | ------- | ----------- | ------- | ---- | ------- | --------- | ------- | 
|                                                                                    |                                           |                            |         | 2001        |         | 2000
|                                                                                    |                                           |                            |         |             |         |     
|                                                                                    |                                           |                            |         | (Unaudited)
|Earnings:                                                                           |                                           |                            |         |             |         |      |         |          
|Net Income                                                                          |                                           | $                          | 368,223 |             |         | $    | 317,201 |          
|                                                                                    | Add:                                      |                            |         |             |         |      |         |           |        
|                                                                                    |                                           | Provision for income taxes |         |             | 195,589 |      |         |           | 171,060 | 
|                                                                                    |                                           | Fixed charges              |         |             | 685,362 |      |         |           | 663,891 | 
|                                                                                    | Less:                                     |                            |         |             |         |      |         |           |        
|                                                                                    |                                           | Capitalized interest       |         |             | 44,220  |      |         |           | 35,583  | 
|                                                                                    |                                           |                            |         |             |         |      |         |          
|                                                                                    | Earnings as adjusted (A)                  |                            | $       | 1,204,954   |         |      | $       | 1,116,569 |        
|                                                                                    |                                           |                            |         |             |         |      |         |          
|Preferred dividend requirements                                                     |                                           | $                          | 11,678  |             |         | $    | 13,596  |          
|Ratio of income before provision
for income taxes to net income                     |                                           |                            | 153     | %           |         |      | 154     | %        
|                                                                                    |                                           |                            |         |             |         |      |         |          
|                                                                                    | Preferred dividend factor on pretax
basis |                            | $       | 17,751      |         |      | $       | 20,938    |        
|Fixed Charges:                                                                      |                                           |                            |         |             |         |      |         |          
|                                                                                    | Interest expense                          |                            |         | 594,567     |         |      |         | 565,880   |        
|                                                                                    | Capitalized interest                      |                            |         | 44,220      |         |      |         | 35,583    |        
|                                                                                    | Interest factor of rents                  |                            |         | 46,575      |         |      |         | 62,428    |        
|                                                                                    |                                           |                            |         |             |         |      |         |          
|                                                                                    | Fixed charges as adjusted (B)             |                            |         | 685,362     |         |      |         | 663,891   |        
|                                                                                    |                                           |                            |         |             |         |      |         |          
|Fixed charges and preferred stock
dividends (C)                                     |                                           | $                          | 703,113 |             |         | $    | 684,829 |          
|                                                                                    |                                           |                            |         |             |         |      |         |          
|Ratio of earnings to fixed charges
(A) divided by (B)                               |                                           |                            | 1.76x   |             |         |      | 1.68x   |          
|                                                                                    |                                           |                            |         |             |         |      |         |          
|Ratio of earnings to fixed charges
and preferred stock dividends
(A) divided by (C) |                                           |                            | 1.71x   |             |         |      | 1.63x   |          
|                                                                                    |                                           |                            |         |             |         |      |         |          

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