LOS ANGELES, July 14, 2014 - Air Lease Corporation (NYSE: AL) reached an agreement with Air New Zealand for the long term lease of five new Airbus A320neo Family aircraft. The first aircraft, a new A321neo, is scheduled for delivery in August 2017 and the first new A320neo will deliver in September 2017. The remaining three aircraft will deliver in 2018.

“We are pleased to extend our excellent relationship with Air New Zealand to include the lease of these new fuel efficient A320neo family aircraft,” said Grant Levy, Executive Vice President of Air Lease Corporation. “Air New Zealand’s management team selected the A320neo family aircraft to optimize its Trans-Tasman fleet.”

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including future 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 Air New Zealand (NZX: AIR; ASX: AIZ)

Air New Zealand is an international and domestic airline group which provides air passenger and cargo transport services within New Zealand, as well as to and from Australia, the South Pacific, Asia, North America and the United Kingdom.