LOS ANGELES, California, November 21, 2011 — Air Lease Corporation (NYSE: AL) announced that it has signed lease agreements for 13 additional aircraft.

“ALC continues to grow its fleet, diversify its customer base and expand the geographic exposure of its fleet. Our focus on optimal fleet planning helps each airline maximize their competitive advantage in the marketplace,” said Alex Khatibi, Executive Vice President of ALC.

ALC placed the following new aircraft from its order book:
• Two Embraer 175s leased to Belavia (Belarus).
• Four ATR 72-600s leased to Passaredo (Brazil).
• Two Airbus A320-200s leased to S7 Airlines (Russia).

Additionally, ALC leased the following aircraft from its fleet:
• One Boeing 737-800 (MSN 33980) leased to Caribbean Airlines.
• One B737-800 (MSN 33982) leased to Transaero (Russia).
• One Boeing 737-800 (MSN 30392) leased to Sun Country (United States).

The following aircraft were acquired on lease:
• One Boeing 737-800 (MSN 34896) leased to Spicejet (India).
• One Airbus A320-200 (MSN 2539) leased to Interjet (Mexico).

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.

Investors:
Ryan McKenna
Director, Strategic Planning and Investor Relations
Email: [email protected]

Media:
Laura St. John
Media and Investor Relations Coordinator
Email: [email protected]