LOS ANGELES, California, April 4, 2017 — Today Air Lease Corporation (NYSE: AL; “ALC”) announced an update on activity taking place in the first quarter of 2017:

Business highlights:

• At the end of the first quarter of 2017, ALC’s fleet was comprised of 243 owned aircraft and 31 managed aircraft
• As scheduled, delivered 11 new aircraft including 6 Boeing 737-800s, 2 Boeing 777-300ERs, 1 Boeing 787-9 and 2 Airbus A320neos
• Concluded the sale of the remaining 5 Embraer aircraft to Nordic Aviation Capital

Financing updates:

• On March 8th, closed the sale of $500 million 3.625% unsecured senior notes due 2027

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.