03 Aug 2016

Air Lease Corporation Announces Lease Placement of Two Boeing 737-800s with SpiceJet

LOS ANGELES, August 3, 2016 – Air Lease Corporation (NYSE: AL) announced today the placement of two Boeing 737-800 NG aircraft on long-term lease to SpiceJet (India), delivering in July and August 2016. One of the 737-800s is from ALC’s order book with Boeing and the second is a 2012-built 737-800 with winglets and sky interior. These placements will be ALC’s fourth and fifth 737-800s on long-term lease to SpiceJet.

“ALC is very pleased to announce these 737-800 placements with SpiceJet, one of India’s leading low-cost carriers. The 737-800 aircraft offers increased efficiency and enhanced customer comfort, perfectly suited for the airline’s short and medium-haul flights. SpiceJet is a long-term customer of ALC and we look forward to working together with their team for many more years,” said Kishore Korde, Air Lease Corporation’s Executive Vice President.

“We value our partnership with ALC and with this new Boeing 737-800 placement, we are further strengthening our long term association. We are now embarking on increasing our fleet which will be instrumental in our growth story post our turnaround. With these additional Boeing aircraft, we aim to build up our network by offering more services,” said Kiran Koteshwar, CFO, SpiceJet Ltd.

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 SpiceJet Ltd

SpiceJet is India’s #2 budget airline that has made flying more affordable for more Indians than ever before. SpiceJet operates 298 daily flights to 41 destinations, including 35 domestic and 6 international ones. SpiceJet connects its network with a fleet of 26 Boeing 737NG and 14 Bombardier Q-400s. The majority of SpiceJet’s fleet offers SpiceMAX, the most spacious economy class seating in India and perhaps the world, as an additional fee option.




Investors

Depalma Maryliz 004

Mary Liz DePalma

Director of Investor Relations

Phone: +1 310.553.0555
Fax: +1 310.553.0999
Email: mdepalma@airleasecorp.com

Media

Stjohn Laura 018 Lorez

Laura Woeste

Manager, Media and Investor Relations

Phone: +1 310.553.0555
Fax: +1 310.553.0999
Email: lwoeste@airleasecorp.com