Meaning and information about Ailsa, What does Ailsa mean? Ailsa means Variant of Elsa: A diminutive of Elizabeth, meaning 'my god is bountiful', or 'god of plenty.' Also from the Old German athal meaning 'noble'. Famous bearers: heroine of Wagner's opera 'Loheogrin'; the tame lioness in Joy Adamson's Born Free. Find similar names like Ailsa.