11 May 2017

Air Lease Corporation Announces the Lease Placement of Eight New Boeing 737 MAX 9 Aircraft with Primera Air Nordic

LOS ANGELES, California, May 11, 2017 — Today Air Lease Corporation (NYSE: AL) announced the long term lease placement of eight new Boeing 737 MAX 9 aircraft with Primera Air Nordic (Latvia). The aircraft are outfitted with CFM LEAP 1B engines and are scheduled to deliver from ALC’s order book with Boeing beginning May 2019 and continuing through May 2020.

“We are pleased to announce ALC’s lease placement of eight 737 MAX 9 with Primera Air Nordic, a new customer for ALC. Primera will use these eight aircraft as part of its plan to serve new routes which have not previously had such service,” said Grant Levy, Air Lease Corporation’s Executive Vice President.

"The new Boeing 737 MAX 9 with increased payload range capability and long range fuel tanks will enable Primera Air Nordic to significantly expand their route network and add new intercontinental destinations with these super-efficient new generation aircraft," said Steven Udvar-Hazy, Executive Chairman of Air Lease Corporation.

“Primera Air is very excited to start this new cooperation with ALC, with the latest technological leap in aviation,” said Andri M. Ingolfsson, owner of Primera Air. “We have waited for this aircraft type for a long time, and now we will be able to open up routes that have only been operated by wide body aircraft, or had no direct service at all. This assures that Primera will have one of the most economically competitive airline operations in Europe.”

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including expected delivery dates. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.

About Air Lease Corporation (NYSE: AL)

ALC is a leading aircraft leasing company based in Los Angeles, California that has airline customers throughout the world. ALC and its team of dedicated and experienced professionals are principally engaged in purchasing commercial aircraft and leasing them to its airline customers worldwide through customized aircraft leasing and financing solutions. For more information, visit ALC's website at www.airleasecorp.com.

About Primera Air Nordic

Primera Air is an Icelandic owned leisure airline owned by the Primera Travel Group, providing scheduled air travel services as well as flights for tour operators and charter flights. In the last years, Primera now offers flights from Northern Europe to over 70 destinations in the Mediterranean, Middle East, Asia, the Caribbean, and the Atlantic. In 2009 Primera Air established the subsidiary Primera Air Scandinavia under a Danish AOC and in 2014 added a Latvian operating license under the name of Primera Air Nordic.




Investors

Depalma Maryliz 004

Mary Liz DePalma

Director of Investor Relations

Phone: +1 310.553.0555
Fax: +1 310.553.0999
Email: mdepalma@airleasecorp.com

Media

Stjohn Laura 018 Lorez

Laura St. John

Manager, Media and Investor Relations

Phone: +1 310.553.0555
Fax: +1 310.553.0999
Email: lstjohn@airleasecorp.com