LOS ANGELES, California, June 5, 2012 — Air Lease Corporation (NYSE: AL) announced today that it has entered into lease agreements with China Southern for 18 new jet aircraft from ALC’s orderbook delivering in 2013, 2014, and 2015. The aircraft include twelve (12) new Boeing 737-800s, four (4) new Airbus A320-200s, and two (2) new Airbus A321-200s, all of which are signed on 12-year lease terms.

“This 18 aircraft transaction with China Southern is ALC’s largest single lease placement to date. We are pleased to grow our relationship with one of the premier airlines in China and a long term strategic customer for ALC,” said Jie Chen, Air Lease Corporation’s Executive Vice President and Managing Director, Asia.

ALC also delivered two new A320-200s to China Southern on 12-year term leases during the second half of 2011.

“ALC’s ability to structure and complete large, multiple aircraft, complex operating lease transactions such as this $800 million deal with China Southern for 18 new Airbus and Boeing aircraft on a multiyear delivery stream, underscores ALC’s global leadership, innovation and strong market presence,” said Steven F. Udvar-Házy, Chairman and CEO of Air Lease Corporation.

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.

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