LOS ANGELES, California, April 22, 2013 — Today Air Lease Corporation (NYSE: AL) announced a lease agreement with Ethiopian Airlinesfor two new Boeing 777-300ER aircraft, both on lease for twelve years. The aircraft are scheduled for delivery in May and June 2015.

"We are proud to expand our relationship with Ethiopian Airlines by placing two brand new 777-300ERs into their long haul fleet.  These aircraft will enhance their intercontinental operations with leading fuel efficiency and a premier passenger experience,” said Kishore Korde, Air Lease Corporation’s Senior Vice President.

“We are very happy to finalize this deal with our strong partner, Air Lease Corporation. These two new Boeing 777-300ERs are critical for our rapidly expanding non-stop long haul routes. Today, our network of 72 international destinations covers four continents through our main hub in Addis Ababa, offering the most convenient connections to passengers traveling between Africa and the rest of the world. The introduction of these two new Boeing 777s into our young and modern fleet is part of our continuing commitment to afford our customers the best possible on-board long haul experience”, said Tewolde Gebremariam, CEO of Ethiopian Airlines.

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 Ethiopian Airlines

Ethiopian Airlines, the fastest growing airline in Africa, made its maiden international flight to Cairo in 1946 and now the airline provides dependable services to 70 international destinations spanning four continents.  Ethiopian is proud to be a Star Alliance Member. The Star Alliance network is the leading global airline network offering customers convenient worldwide reach and a smoother travel experience. The Star Alliance network offers more than 21,555 daily flights to 1,356 airports in 193 countries.  Ethiopian is a multi-award winner for its commitment and contributions towards the development and growth of the African aviation industry and in recognition of its distinguished long-haul operations enhanced by the introduction of new routes and products.

Investors:
Ryan McKenna
Assistant Vice President
Strategic Planning and Investor Relations
Email: [email protected]

Media:
Laura St. John
Media and Investor Relations Coordinator
Email: [email protected]