LOS ANGELES, California, February 28, 2013 — Air Lease Corporation (NYSE: AL) announced long term lease agreements today with Air New Zealand for two new Boeing 777-300ER aircraft delivering in 2014."We are delighted to announce the lease of two new 777-300ER aircraft to Air New Zealand, one of the preeminent airlines in the world.

"Air New Zealand has been universally recognized for operating a modern fleet that delivers a superior product to its passengers. This transaction is part of a long history between the members of ALC’s management and Air New Zealand which started 45 years ago when Steve Hazy acquired a Lockheed Electra L-188C from Air New Zealand in January of 1968,” said Grant Levy, Executive Vice President of Air Lease Corporation.

“We are very pleased to further our relationship with Air Lease Corporation with the addition of these two 777- 300ER aircraft to our fleet. These aircraft are a great fit to our network and will allow us in the coming years to lift our growth aspirations in the growing Pacific Rim markets," said Rob McDonald, Chief Financial Officer of Air New Zealand.

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 Air New Zealand (NZX: AIR; ASX: AIZ)Air New Zealand is an international and domestic airline group which provides air passenger and cargo transport services within New Zealand, as well as to and from Australia, the South Pacific, Asia, North America and the United Kingdom.