UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549



                               __________________

                                    FORM 8-K
                               __________________

                                 CURRENT REPORT

                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934


       Date of report (date of earliest event reported): January 15, 2002


                               ___________________

                          Commission File No. 333-69864

                               ___________________


                          LEASE INVESTMENT FLIGHT TRUST


                         State of Organization: Delaware
                    IRS Employer Identification No. 51-65219
       1100 North Market Street, Rodney Square North, Wilmington, Delaware
                           Telephone - (302) 651-1000

















                       This document consists of 8 pages.





Item 5.       Other Events.

Attached  hereto as Exhibit 99.1 is a copy of the Monthly  Report to Noteholders
for the payment date of January 15, 2002, sent to the holders of the notes.



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                                    SIGNATURE



Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.


                                      LEASE INVESTMENT FLIGHT TRUST
                                      (Registrant)





            January 15, 2002          By:  /s/David Treitel
       --------------------------         --------------------------------------
                                          David Treitel
                                          Equity Trustee and Controlling Trustee



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