LOS ANGELES, California, March 27, 2017 — Today Air Lease Corporation (NYSE: AL) announced long term lease agreements with Air Canada for two new Boeing 787-9 aircraft with General Electric engines.

"We are pleased to continue to develop our long relationship with Air Canada with the lease of two new Boeing 787-9 aircraft. The first was allocated to Blackbird Capital and acquired in January 2017. The second was delivered on March 24, 2017 and leased from ALC. Both aircraft add to Air Canada's modern state of the art long haul jet fleet, which is one of the youngest in North America," said John L. Plueger, Chief Executive Officer and President of Air Lease Corporation.

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 Air Canada (TSX: AC), (OTCQX: ACDVF)

Air Canada is Canada's largest airline and the largest provider of scheduled passenger services in the Canadian market, the Canada-U.S. transborder market and in the international market to and from Canada. In 2016, Air Canada together with its Air Canada Express regional partners carried close to 45 million passengers, offering direct passenger service to more than 200 destinations on six continents. Air Canada is among the 20 largest airlines in the world and employs 30,000 people. Its corporate headquarters are located in Montreal.