LOS ANGELES, California, November 13, 2013 — Today Air Lease Corporation (NYSE: AL) announced the long term lease of one new Boeing 737-800 jet aircraft to Okay Airways, based in Beijing, China. The aircraft is scheduled for delivery to Okay Airways in June, 2015.

“We are very pleased to announce this lease transaction with Okay Airways, a growing private sector airline in China. We look forward to continuing our longstanding relationship with Okay Airways, providing access to new fuel efficient aircraft as they grow and modernize their fleet,” said Jie Chen, Executive Vice President and Managing Director, Asia.

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.