LOS ANGELES, California, December 16, 2014 — Today Air Lease Corporation (NYSE: AL) announced a long term lease agreement for an additional new ATR 72-600 with KALSTAR Aviation (Indonesia), delivering from our order book with ATR in the second half of 2015. The aircraft will join two other ATR 72-600 aircraft already operated by the airline, also on long term lease from ALC.

“We are delighted to announce this additional ATR 72-600 lease placement with KALSTAR, underlining ALC’s commitment to the airline’s growth plans in Southeast Asia. These ATR aircraft will be essential components of KALSTAR’s fleet modernization as they continue to upgrade their fleet with more economical and efficient airplanes,” said Chi Yan, Vice 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 KALSTAR

KALSTAR is a major Indonesian regional airline serving the fast growing region of Kalimantan (Borneo), rich in natural resources and robust economic growth. KALSTAR operates ATR turboprops and Boeing 737s to serve its expanding network of both domestic and international routes in Southeast Asia.