LOS ANGELES, California, January 8, 2014 — Today Air Lease Corporation (NYSE: AL) announced long term lease agreements with Sichuan Airlines (China) for two new Airbus A321-200 aircraft with Sharklets powered by IAE V2533 engines, which are scheduled for delivery in May and October 2014.

“We are pleased to announce this strategic lease placement with Sichuan Airlines, an important customer for ALC in China. Sichuan has been steadily increasing and modernizing its jet fleet. This transaction further cements the successful long term relationship with Sichuan as it builds one of the newest and most fuel-efficient jet fleets in China,” said Jie Chen, ALC’s Executive Vice President and Managing Director, Asia.

ALC already leases several Airbus A330 and A320 family aircraft to Sichuan.

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 Sichuan Airlines

Sichuan Airlines is a leading Chinese scheduled airline based in Chengdu, China. Sichuan operates frequent flights to all major destinations in China and the surrounding region in Asia, with a modern all-Airbus fleet.