LOS ANGELES, June 23, 2014 – Air Lease Corporation (NYSE: AL) announced today the delivery of the first of four new Airbus A321-200 aircraft leased to Air China (Beijing). This delivery is part of a large long term lease placement of 13 new aircraft with Air China from ALC’s order book with Airbus and Boeing. Air China also leased nine new Boeing 737-800s from ALC, five of which have been delivered.

“Air China is one of ALC’s largest airline lease customers in Asia for both single and twin-aisle aircraft,” said Jie Chen, Executive Vice President and Managing Director, Asia. “ALC has worked closely with Air China’s management team to optimize their fleet with new fuel efficient aircraft to cover replacement requirements.”

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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 China

Air China is the flag carrier and one of the major airlines of China and is headquartered in Beijing. With flight operations based out of Beijing Capital International Airport, Air China’s route network extends throughout Asia to the Middle East, Western Europe, and North America.