LOS ANGELES, California, May 30, 2012 — Air Lease Corporation (NYSE: AL) announced today that it has entered into 12 year long term lease agreements with Air China for 13 new jet aircraft delivering in 2013 and 2014 which consist of nine (9) new Boeing 737-800s and four (4) new Airbus A321-200s.

This is one of ALC’s largest lease placements and validates ALC’s strong airline market presence in Asia.“We have worked closely with the management of Air China to provide new and efficient aircraft to optimize their future fleet. Our deal with Air China demonstrates that our airline customers value ALC as an advisor and resource when planning the growth and replacement of their fleets,” said Jie Chen, Executive Vice President and Managing Director, Asia.ALC also delivered two new A330-200s to Air China on long term leases during the second half of 2011.Forward-Looking StatementsThis 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.