LOS ANGELES, California, January 9, 2013 — Air Lease Corporation (NYSE: AL) announced today that British Airways and ALC signed 10 year lease agreements for two (2) new Boeing 777-300ER wide-body aircraft. The two new Boeing 777s will be delivered to the airline in May and July 2014. ALC ordered these aircraft from Boeing as part of a larger contract in 2011.

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 British Airways

British Airways, part of International Airlines Group, is one of the world's leading global premium airlines and the largest international carrier in the UK. The carrier has its home base at London Heathrow, the world's busiest international airport and operates up to 750 flights a day to more than 70 different countries. In the past 12 months the airline carried over 34 million customers. The airline currently has a fleet of more than 240 aircraft.

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]