In this letter, we report results of time resolved spectra of lightning simulation in air by laser-induced plasma (LIP). The measured electron temperatures varied from (1.7 +/- 0.1)X10(4) K at 600 ns to (1.2 +/- 0.1)X10(4)K at 4 microseconds after the ignition of the plasma. Electron densities in the plasma varied from (7.0 +/- 1.4)X10(17)/cm3 to (9.0 +/- 1.8)X10(16)/cm3 for the above times. We also present, for the first time, a comparison of state variables for LIP and natural lightning. We find that immediately following the ignition both natural lightning and LIP reach temperatures in excess of 16,000K and relax to ambient pressure with different rates. They are expected to approach 2000 - 4000 K temperature range, which is important to chemical synthesis, in an asymptotically similar fashion.