06 Mar 2017

Air Lease Corporation Announces Lease Placement of Seven New Airbus A321neo LR Aircraft with Aer Lingus

LOS ANGELES, California, March 6, 2017 — Today Air Lease Corporation (NYSE: AL) announced long term lease agreements with Aer Lingus for seven new Airbus A321neo LR aircraft to operate on transatlantic and other routes. The aircraft are from ALC’s order book with Airbus.

"The lease of the A321neo LR aircraft from ALC is the culmination of a long relationship with Aer Lingus. We have seen their long range fleet evolve from Boeing 747s to Airbus A330s to now Airbus A321s. We take great pride in extending our relationship with Aer Lingus. The A321neo LR aircraft leased from ALC will allow Aer Lingus to eventually replace four Boeing 757s, and add more non-stop routes and frequencies to U.S. and Canadian cities,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation.

“The A321neo LR will be the perfect aircraft for Aer Lingus to provide its excellent service and allow it to expand into new markets while remaining a very profitable and successful airline,” said Grant Levy, Executive Vice President of Air Lease Corporation.

Delivery of the aircraft is scheduled to begin in the second quarter of 2019, with three deliveries in 2019 and four deliveries in 2020.

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 Aer Lingus

Aer Lingus, part of International Airlines Group, operates as a leading Irish airline primarily providing passenger and cargo transportation services from Ireland to the United Kingdom and Europe and also to the United States and Canada.


Investors

Mary Liz DePalma

Director of Investor Relations

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

Media

Laura St. John

Manager, Media and Investor Relations

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