LOS ANGELES, California, June 15, 2015 — Today Air Lease Corporation (NYSE: AL) announced new long term lease contracts with Vietnam Airlines that converted the formerly contracted eight Boeing 787-9 aircraft to eight new Boeing 787-10s. These aircraft are from ALC’s order book with Boeing and deliveries are scheduled to begin in 2019 and continue through 2021. The Boeing 787-10 Dreamliner will be the largest aircraft in Vietnam Airlines’ fleet.

“We have worked closely with Vietnam Airlines’ management team for over two decades, providing new and efficient aircraft to optimize their fleet. As Vietnam rolls out a major widebody fleet upgrade, this transaction demonstrates that our airline customers value ALC as an advisor and resource when planning the growth and replacement of their fleets,” said Jie Chen, Executive Vice President and Managing Director, Asia.

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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 Vietnam Airlines

Vietnam Airlines is the flag carrier of Vietnam. Founded in 1956 under the name Vietnam Civil Aviation, the airline was established as a state-owned enterprise in April 1989. Vietnam Airlines is headquartered in Long Bien District, Hanoi, with hubs at Noi Bai International Airport and Tan Son Nhat International Airport.