LOS ANGELES, California, May 11, 2015 — Today Air Lease Corporation (NYSE: AL) announced long term lease agreements with Hainan Airlines for two new Boeing 787-9 aircraft, both from ALC’s order book with Boeing. ALC has ordered 46 new Boeing 787-9 and 787-10 aircraft in total for deliveries beginning in spring 2016.

"We are pleased to announce that the first of these two new Boeing 787-9s leased to Hainan Airlines will be ALC’s very first Boeing 787-9 delivery. As the longest-range wide-body aircraft in Hainan’s fleet, these 787-9s will offer additional range and capacity capabilities beyond the airline’s Boeing 787-8 aircraft already in operation. This placement marks our third and fourth aircraft placed on long term lease with Hainan, following two 737-800s in 2010. We look forward to the continued growth of our relationship with this world-class airline,” said Jie Chen, ALC’s Executive Vice President and Managing Director, Asia.

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 Hainan Airlines

Since its first flight, Hainan Airlines has been operating safely for 21 successive years, maintained an excellent safety record, and its service has won the unanimous approval of a wide range of passengers and those in the civil aviation industry. In October 2014, Hainan Airlines won the 2014 annual World Travel Awards (WTA) "Asia's Best Business Class 2014" award. On January 27, 2015 Hainan Airlines was named as one of the 100 Most Valuable Chinese Brands selected by the internationally known brand consultancy and assessment agency “BrandZ”. Since 2011, Hainan Airlines, with its high quality service standards and continuous years of service innovation, has won four consecutive global SKYTRAX five-star airline ratings. Meanwhile, it has also won SKYTRAX “Best Airline in China” and “Best Staff Service in China” awards for the fifth time.

Hainan Airlines inherits “Oriental hospitality”, advocates a “respect for the customer” service spirit, follows the “SMILE” service standard, passes on the “cherished experience” brand philosophy, highlights the “Oriental Beauty” new international brand image, becoming a world-class aviation enterprise and brand for the Chinese nation.