The development of the high-efficiency machine-tools equipment and new cutting tool materials with high hardness, heat- and wear-resistance has opened the way to application of high-speed cutting process. The basic argument of using of high-speed cutting processes is the reduction of time and the respective increase of machining productivity. In this sense, the spindle units may be regarded as one of the most important units, directly affecting many parameters of high-speed machining efficiency. One of the possible types of spindle units for high-speed cutting is the air-bearing type. In this paper, we propose the mathematical model of the dynamic behavior of the air-bearing spindle. To provide the high-level of speed capacity and spindle rotation accuracy we need the adequate model of "spindle-bearings" system. This model should consider characteristics of the interactions between system components and environment. To find the working characteristics of spindle unit we should derive the equations of spindle axis movement under the affecting factors, and solve these equations together with equations which describe the behavior of lubricant layer in bearing (bearing stiffness equations). In this paper, the three influence coefficients are introduced, which describe the center of spindle mass displacement, angle of shaft rotation around the axes under the unit force application and that under the unit torque application. These coefficients are operated in the system of differential equations, which describes the spindle axis spatial movement. This system is solved by Runge-Kutta method. Obtained trajectories and amplitude-frequency characteristics were then compared to experimental ones. The analysis shows good agreement between theoretical and experimental results, which confirms that the proposed model of air-bearing spindle is correctis correct