LOS ANGELES, California, June 16, 2015 — Today Air Lease Corporation (NYSE: AL) announced long term lease agreements for seven new Airbus A320neo Family aircraft with Air Astana, the national airline of Kazakhstan. The seven aircraft include two new A320neos and five new A321neos and LRs, all from ALC’s order book with Airbus. One A320neo is scheduled to deliver in Spring 2016, while the remaining six aircraft will deliver in 2018 and 2019.

“We have a long history and an excellent relationship with Air Astana, and we are pleased with the opportunity to be a part of modernizing their fleet,” said Alex Khatibi, Executive Vice President of Air Lease Corporation.

“This lease transaction with ALC is an important part of Air Astana's fleet modernization," added Peter Foster, Chief Executive Officer of Air Astana.

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 Astana

Air Astana is the principal airline and flag carrier of the Republic of Kazakhstan, based in Almaty, Kazakhstan. The airline operates scheduled domestic and international services from its main hub, Almaty International Airport, and from its secondary hubs, Astana International Airport and Atyrau Airport.