LOS ANGELES, California, May 4, 2015 — Today Air Lease Corporation (NYSE: AL) announced a long term lease agreement with Volaris (NYSE: VLRS and BMV: VOLAR) the ultra-low-cost airline serving Mexico and the United States, for one additional new Airbus A321-200 CEO aircraft with Sharklets powered by IAE V2533-A5 engines. This aircraft is from ALC’s order book with Airbus and scheduled for delivery in spring 2016.

"This marks our third new A321-200 placed on long term lease with Volaris and we're very proud to be expanding our relationship with such a leading airline. The A321-200 is well suited to Volaris’ growth plans and is indicative of the solid demand we see for the A321-200 in the global marketplace,” said John L. Plueger, President and Chief Operating Officer 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 Volaris (NYSE: VLRS and BMV: VOLAR)

Controladora Vuela Compañía de Aviación, S.A.B. de C.V. (“Volaris” or the “Company”), is an ultra-low-cost carrier (ULCC), with point-to-point operations, serving Mexico and the United States. Volaris offers low base fares to build its market, providing quality service and extensive customer choice. Since beginning operations in March 2006, Volaris has increased its routes from five to more than 135 and its fleet from four to 52 aircraft. Volaris offers more than 235 daily flight segments on routes that connect 38 cities in Mexico and 21 cities in the United States with the youngest aircraft fleet in Mexico. Volaris targets passengers who are visiting friends and relatives, cost-conscious business people and leisure travelers in Mexico and to select destinations in the United States. Volaris has received the ESR Award for Social Corporate Responsibility for five consecutive years. For more information, please visit: www.volaris.com