LOS ANGELES, California, January 21, 2013 — Air Lease Corporation (NYSE: AL) announced today that LIAT (Leeward Islands Air Transport) and ALC signed long term lease agreements for two (2) new ATR 72-600 aircraft, delivering in June and August 2013.

Antigua-based LIAT is owned by 11 different governments in the Eastern Caribbean, and is the major scheduled airline operator in that region.

"We are very pleased to add LIAT to our growing list of airline customers, and solidify ALC's market position," said Kishore Korde, Senior Vice President of Air Lease Corporation.

"The new generation ATR-72-600 is an essential component of our progressive fleet modernization, as we upgrade to these economical and efficient new aircraft in 2013. We value our association with ALC and the support we have received from them on this important project" said Capt. Ian Brunton, Chief Executive Officer of LIAT.

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 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.

About LIAT

LIAT is one of the leading Caribbean airlines. It is owned by regional shareholders, with major shareholders being the Governments of Barbados, Antigua & Barbuda and St. Vincent & the Grenadines. More information about LIAT may be found at www.liat.com.

Investors:
Ryan McKenna
Assistant Vice President
Strategic Planning and Investor Relations
Email: [email protected]

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