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Press Release - July 10, 2017
Air Lease Corporation Activity Update for the Second Quarter of 2017

LOS ANGELES, California, July 10, 2017 — Today Air Lease Corporation (NYSE: AL; “ALC”) announced an update on activity taking place in the second quarter of 2017:
- At the end of the second quarter of 2017, ALC’s fleet was comprised of 240 owned aircraft and 48 managed aircraft
- Delivered 8 new aircraft including 3 Boeing 737-800s, 1 Boeing 787-9, 1 Airbus A320neo, 1 Airbus A321ceo and 2 Airbus A321neos
- Delivered 6 used Boeing 737-800s purchased in the secondary market with the majority of these deliveries occurring throughout the second half of the quarter
- Sold 17 aircraft including 16 aircraft sold to Thunderbolt Aircraft Lease Limited and 1 aircraft sold to Blackbird Capital I, LLC
- Announced Memorandum of Understanding with Boeing for 12 737 MAX aircraft
- Signed firm order with Airbus for 12 additional A321neo aircraft
- Designated CFM International’s advanced LEAP-1A engine to power 25 Airbus A320neo family aircraft currently on order
- Repaid $1.1 billion 5.625% senior notes at maturity
- Amended and extended unsecured revolving credit facility with revolving commitments now totaling $3.7 billion and the substantial majority of the revolving commitments maturing on May 5, 2021
- Issued $600 million 2.625% unsecured senior notes due 2022

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