LOS ANGELES, California, September 24, 2014 — Today Air Lease Corporation (NYSE: AL) announced long term lease agreements with Sichuan Airlines (China) for two new Airbus A321-200s. Both aircraft, scheduled for delivery in the first half of 2015, are outfitted with Sharklets and powered by IAE V2533 engines. The aircraft will deliver from ALC’s order book with Airbus, adding to our numerous Airbus A330, A321 and A319 aircraft already on lease to Sichuan.

“We are pleased to announce the placement of these two new aircraft in addition to the two new 2014 delivery A321-200s leased by ALC to Sichuan,” said Jie Chen, ALC’s Executive Vice President and Managing Director, Asia. “ALC has shown continued commitment in leasing commercial aircraft to major Chinese and Asian carriers and has established ALC in a leadership role in the region, working together with these airlines to expand and modernize their fleets.”

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 Sichuan Airlines

Sichuan Airlines is a leading Chinese scheduled airline based in Chengdu, China. Sichuan operates frequent flights to all major destinations in China and the surrounding region in Asia, with a modern all-Airbus fleet.