LOS ANGELES, California, May 7, 2014 — Today Air Lease Corporation (NYSE: AL) announced long term lease agreements with Novair for three new Airbus A321neo aircraft, which are scheduled to begin delivery in 2017. Novair is based in Stockholm, Sweden and owned by Switzerland’s Kuoni Travel Group. These aircraft are from ALC’s order book from Airbus.

"As the first operator of these new technology A321neo aircraft in Scandinavia, Novair will gain significant performance and operational economic advantages,” said Steven F. Udvar-Hazy, Chairman and Chief Executive Officer of Air Lease Corporation. “We are pleased to play a pivotal role in renewing Novair’s fleet by leasing them the most modern fuel and environmentally efficient 220-seat jet aircraft beginning in the spring of 2017.”

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.