23 Aug 2011

Air Lease Corporation Announces Further Acquisitions and Lease Placements for Boeing 737 Aircraft

LOS ANGELES, CA, August 22, 2011 — Air Lease Corporation (ALC) announced continuing lease placements and acquisitions of 12 additional Boeing Next-Generation 737 aircraft.

“These lease placements and acquisitions are important steps in achieving our balanced fleet growth plan. ALC will continue to build the depth and global diversity of our 737-700/800 customer base,” said John L. Plueger, President and Chief Operating Officer of ALC.

ALC and XL Airways Germany signed a long term lease for ALC’s Boeing 737-800 (MSN 32920), currently on lease to Air Berlin, for delivery in March 2012.

In addition, ALC has acquired the following 11 aircraft:

Two Boeing 737-800s (MSNs 34003 and 34004) leased to Continental Airlines.

Two Boeing 737-800s (MSNs 36845 and 35228) leased to Skymark Airlines (Japan).

Two Boeing 737-700s (MSNs 34401 and 34402) leased to Ethiopian Airlines.

One Boeing 737-800 (MSN 29669) leased to Travel Service, A.S. (Czech Republic).

One Boeing 737-800 (MSN 34253) leased to Xiamen Airlines.

One Boeing 737-800 (MSN 34254) leased to Shanghai Airlines.

One Boeing 737-800 (MSN 36529) leased to Sun Express (Turkey).

One Boeing 737-800 (MSN 30292) leased to Sunwing (Canada).

Forward-Looking Statements: This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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)
Launched in 2010, ALC is an 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 partners worldwide through customized aircraft leasing and financing solutions. For more information, visit ALC's website at www.airleasecorp.com.

Investors:
Ryan McKenna
Director, Strategic Planning and Investor Relations
Email: rmckenna@airleasecorp.com

Media:
Laura St. John
Media and Investor Relations Coordinator
Email: lstjohn@airleasecorp.com




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