LOS ANGELES, California, March 19, 2015 — Today Air Lease Corporation (NYSE: AL) announced long term lease agreements with Air Austral for two new Boeing 777-300ER aircraft. Both aircraft are from ALC’s order book with Boeing and are scheduled to deliver in the fall of 2016.

“We are delighted to lease two more new 777-300ERs to Air Austral, a long-time customer of ALC. Our management team has a great relationship with Air Austral and we are happy to support the renewal of their twin-aisle fleet with the addition of these modern, fuel-efficient aircraft,” said Marc Baer, Executive 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 Air Austral

Air Austral is a French airline headquartered at Roland Garros Airport in Sainte-Marie, Réunion, France, and operates scheduled services from Réunion to metropolitan France, South Africa, Thailand, India and a number of destinations in the Indian Ocean.