EXHIBIT 10.3

CERTAIN IDENTIFIED INFORMATION MARKED BY [*] HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) THE TYPE OF INFORMATION THAT THE REGISTRANT BOTH CUSTOMARILY AND ACTUALLY TREATS AS PRIVATE AND CONFIDENTIAL.

AMENDMENT N°1

TO THE

[*] AGREEMENT

AMONG

AIRBUS S.A.S.

and

AIRBUS CANADA LIMITED PARTNERSHIP

and

AIR LEASE CORPORATION

[*]

ALC – Amendment N°1 to [*] Agreement
Ref. CLC - CT2309464	Page 1/4

This amendment n°1 (the “Amendment N°1”) dated ____ February 2024 is made

AMONG:

AIRBUS S.A.S., a French société par actions simplifiée, with its registered office at 2, rond-point Emile Dewoitine, 31700 Blagnac, France, registered with the Commercial and Companies Register of Toulouse under number 383 474 814 (“Airbus S.A.S.”),

and

AIRBUS CANADA LIMITED PARTNERSHIP, a company having its registered office at Airbus Canada Limited Partnership, 13100 Boulevard Henri Fabre, Mirabel, QC, Canada J7N 3C6 and includes its successors and assigns (“Airbus Canada”),

and

AIR LEASE CORPORATION, a corporation organised and existing under the laws of the State of Delaware, U.S.A., having its principal place of business at 2000 Avenue of the Stars, Suite 1000N, Los Angeles, California 90067, U.S.A. (“ALC”).

Airbus S.A.S. and Airbus Canada together are referred to as “Airbus”.

Airbus, Airbus Canada and ALC together are referred to as the “Parties” and individually as a “Party”.

WHEREAS:

A.[*]

B.[*]

C.[*]

D.[*]

E.[*]

F.On 20 June 2023, ALC and Airbus entered into a [*] with reference CLC-CT2305048 for [*], referred to as the “[*] Agreement”.

G.The Buyer and the Seller now wish to enter into this Amendment N°1 in order to [*].

NOW IT IS HEREBY AGREED AS FOLLOWS:

ALC – Amendment N°1 to [*] Agreement
Ref. CLC - CT2309464	Page 2/4

1[*]

2INCONSISTENCY AND CONFIDENTIALITY

2.1In the event of any inconsistency between the terms and conditions of the Agreement and those of this Amendment N°1, the latter shall prevail to the extent of such inconsistency, whereas the part of the Agreement not concerned by such inconsistency shall remain in full force and effect.

2.2This Amendment N°1 reflects the understandings, commitments, agreements, representations and negotiations related to the matters set forth herein whatsoever, oral and written, and may not be varied except by an instrument in writing of even date herewith or subsequent hereto executed by the duly authorised representatives of the Parties.

2.3This Amendment N°1 shall be treated by the Parties as confidential and shall not be released in whole or in part to any third party without the prior consent of the other Parties except as may be required by law, or to professional advisors for the implementation hereof.

3COUNTERPARTS

This Amendment N°1 may be executed by the Parties in separate counterparts, each of which when so executed and delivered shall be an original, but all such counterparts shall together constitute one and the same instrument.

4LAW AND JURISDICTION

This Amendment N°1 will be governed by and construed and the performance thereof will be determined in accordance with the laws of the State of New York, without giving effect to its conflicts of laws provisions that would result in the application of the law of any other jurisdiction.

The other provisions of Clause 4 of the [*] Agreement shall apply to this Amendment N°1 as if the same were set out in full herein, mutatis mutandis.

ALC – Amendment N°1 to [*] Agreement
Ref. CLC - CT2309464	Page 3/4

IN WITNESS WHEREOF this Amendment N°1 was entered into the day and year first above written.

For and on behalf of	For and on behalf of
AIRBUS S.A.S.	AIRBUS CANADA LIMITED PARTNERSHIP
	duly acting and represented by itsmanaging
	general partner,
	AIRBUS CANADA MANAGING GP INC.
By: Paul Meijers	By: Benoît Schultz
Its: EVP Commercial Transactions	Its: CEO

For and on behalf of

AIR LEASE CORPORATION

By: Grant Levy

Its: Executive Vice President

ALC – Amendment N°1 to [*] Agreement
Ref. CLC - CT2309464	Page 4/4