LOS ANGELES, California, July 01, 2013 -- Today Air Lease Corporation (NYSE: AL) announced long term lease agreements with Monarch Airlines (United Kingdom) for two new Airbus A321-200 aircraft with Sharklets and powered by IAE V2533 engines, which are scheduled for delivery in April and May of 2015.

"We are pleased to announce this strategic lease placement with Monarch Airlines, a new customer for ALC in Europe. Monarch Airlines has been steadily rationalizing and modernizing its operating fleet. ALC looks forward to a successful long term relationship with Monarch as it executes its plans to build one of the newest and most fuel-efficient jet fleets in the U.K.," 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 an 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 partners worldwide through customized aircraft leasing and financing solutions. For more information, visit ALC's website at www.airleasecorp.com.

About Monarch Airlines

Monarch Airlines is a leading UK-based scheduled leisure airline operating from 6 bases in the UK -- London Gatwick, Manchester, Birmingham, East Midlands, Leeds Bradford and London Luton, where it is headquartered. Monarch Airlines operates flights to holiday destinations principally around the Mediterranean and the Canary Islands and to ski destinations in winter -- including destinations in Croatia, Cyprus, Egypt, France, Germany, Gibraltar, Greece, Italy, Madeira, Portugal, Spain and Turkey. Monarch aims to provide choice, value and superior customer care.

Investors:
Ryan McKenna
Assistant Vice President
Strategic Planning and Investor Relations
310-553-0555
[email protected]

Media:
Laura St. John
Media and Investor Relations Coordinator
310-553-0555
[email protected]