LOS ANGELES, California, February 6, 2017 — Today Air Lease Corporation (NYSE: AL) announced long term lease agreements with China Southern Airlines for five new Boeing 787-9 aircraft outfitted with GE’s GEnx engines, all from ALC’s order book with Boeing. Delivery of the aircraft is scheduled to begin in the first quarter of 2019, with three deliveries in 2019 and two deliveries in 2020.

“We are pleased to further 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 currently has Airbus A320s, A321s, and Boeing 737-800s on lease to China Southern Airlines.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including expected delivery dates. 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)

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 China Southern Airlines

China Southern Airlines Co., Ltd. is based in Guangzhou, and operates the largest fleet, most developed route network and largest passenger capacity of any airline in The People's Republic of China. Currently, China Southern Airlines operates 700 passenger and cargo transport aircrafts, including Boeing 787，777,747, 757& 737 and Airbus A380, A330, A321,A320, A319. The airline fleet is ranked the first in Asia and the 4th in the world (Data: IATA, in terms of fleet size). China Southern Airlines is the first airline in the world to operate both A380 and 787.