LOS ANGELES, July 20, 2015 - Air Lease Corporation (NYSE: AL) announced long term lease agreements with Frontier Airlines, an ultra-low-cost carrier based in the United States, for two new Airbus A320-200s. These aircraft are from ALC’s order book with Airbus and will deliver in the second and third quarters of 2016.

“We remain focused on our Low Fares Done Right business model for long-term success, and we look forward to working with Air Lease Corp. to achieve it.”

“We are pleased to announce these strategic lease placements with Frontier Airlines, a new customer for ALC. We look forward to a successful long-term relationship with Frontier as it continues to execute plans to modernize and increase the efficiency of its jet fleet,” said Steven F. Udvar-Házy, Air Lease Corporation’s Chairman and Chief Executive Officer.

“This announcement helps pave the way for us to modernize and renew our fleet while helping us build a strong foundation for the future,” said Jimmy Dempsey, chief financial officer, Frontier Airlines. “We remain focused on our Low Fares Done Right business model for long-term success, and we look forward to working with Air Lease Corp. to achieve it.”

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 Frontier Airlines

Frontier Airlines is committed to offering ‘Low Fares Done Right’ to more than 60 destinations in the United States, Mexico, Costa Rica, Jamaica and the Dominican Republic on more than 270 daily flights. Headquartered in Denver, Frontier’s hard-working aviation professionals pride themselves in delivering the company’s signature Rocky Mountain hospitality to customers. Frontier Airlines is the proud recipient of the Federal Aviation Administration’s 2014 Diamond Award for maintenance excellence and was recently named the industry’s most fuel-efficient airline by The International Council on Clean Transportation (ICCT) as a result of superior technology and operational efficiencies.

For more information or to purchase a Frontier flight, visit FlyFrontier.com, where Frontier guarantees the best travel value for Frontier flights. Customers can sign up at FlyFrontier.com/email-alert to receive special discounts and promotions only available to Frontier’s email subscribers. Special offers are also available by following Frontier on Twitter at Twitter.com/FlyFrontier or by liking Frontier on Facebook at Facebook.com/FlyFrontier.