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There's no eject button on Macbook Airs

Hit the power button. It pops up a modal with restart, sleep, shut down and cancel.

It's like no one read my post. I specifically do not want to sleep.

the sleeping is only for the monitors, the computer is still running.

That's... not true.

cmd + alt + eject is the sleep you're thinking about. ctrl + shift + eject is just for the displays :)