LOS ANGELES, CA, June 1, 2011 – Air Lease Corporation (ALC) announced today that it has signed lease agreements for 20 additional aircraft.

“The placements of these aircraft allow us to expand the global footprint of our fleet. We continue to strengthen longstanding relationships with our airline partners along with building new affiliations for ALC,” said Marc Baer, Executive Vice President of Air Lease Corporation.

ALC is leasing 10 new aircraft to Alitalia, consisting of five Embraer 175’s, and five Embraer 190LR’s under 12 year leases.

ALC and SriLankan Airlines have entered into lease agreements for three new A320-200’s, one of which delivered in May 2011, and the remaining two aircraft delivering in October and November 2011 on 12 year leases.

S7 Airlines is leasing three new A320-200’s for eight years, delivering in January, February, and May 2012.

ALC and Kenya Airways have entered into eight year lease agreements for three new Embraer 190AR’s scheduled for delivery in August and September 2011, and May 2012.

ALC acquired one A320-200 (MSN 1686), on lease to Spring Airlines.

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, Air Lease Corporation (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:
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Media:
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Air Lease Corporation
Phone: 310.553.0555
Fax: 310.553.0999