LOS ANGELES, May 21, 2014 - Today Air Lease Corporation (NYSE: AL) announced the delivery of one used Airbus A320-200 to Air Serbia, a new customer for ALC. This aircraft was delivered to Air Serbia in March 2014.

“Air Serbia is a new customer in Eastern Europe for ALC. ALC looks forward to a long and successful relationship with Air Serbia as they expand their fleet and route network in Europe and beyond. Additionally, this placement further develops our close collaboration with Air Serbia’s significant shareholder and current ALC customer, Etihad Airways,” said Steven F. Udvar-Házy, Chairman and Chief Executive Officer of Air Lease Corporation.

Forward-Looking Statements

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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 Serbia

Air Serbia is the flag carrier and largest airline of Serbia, based at Belgrade Nikola Tesla Airport. Known as Jat Airways until it was renamed in October 2013, Air Serbia operates scheduled domestic and international passenger flights to Europe and the Middle East.