SOURCE: GE Aviation; July 14, 2014

EVENDALE, OH -- Air Lease Corporation (NYSE: AL) selected GEnx-1B engines to power 30 Boeing 787 Dreamliner aircraft. The list price for the engine order is valued at more than $1.4 billion (USD).

"We are pleased to offer these GEnx-1B-powered 787 Dreamliner aircraft to our customers. This engine has demonstrated excellent operational performance and environmental efficiency and will help deliver real advantages to airline operators," said John Poerschke, Senior Vice President of Air Lease Corporation.

"GE Aviation is proud Air Lease Corporation has selected the GEnx engines as an offering for its Boeing 787 Dreamliner fleet," said Chaker Chahrour, vice president and general manager, Global Sales & Marketing, GE Aviation. "The GEnx engines have proven to be very fuel efficient engines on the Boeing 787 Dreamliners, and ALC operators will benefit from the engine's performance advantages."

The GEnx engine family is the fastest-selling engine in GE Aviation history with more than 1,500 engines on order. Compared to GE's CF6 engine, the GEnx engine offers up to 15 percent better fuel consumption, which translates to 15 percent less CO2. The GEnx's innovative twin-annular pre-swirl (TAPS) combustor dramatically reduces NOx gases as much as 55 percent below today's regulatory limits and other regulated gases as much as 90 percent. Based on the ratio of decibels to pounds of thrust, the GEnx is the quietest engine GE produces due to the large, more efficient fan blades that operate at a slower tip speed, resulting in about 40 percent lower noise levels.

Revenue-sharing participants on the GEnx are IHI Corporation of Japan, GKN Aerospace Engine Systems of Sweden, MTU of Germany, TechSpace Aero of Belgium, Snecma (SAFRAN Group) of France and Samsung Techwin of Korea.

The GEnx engine is part of GE's "ecomagination" product portfolio—GE's commitment to implementing innovative, cost-effective technologies that enhance the customers' environmental and operating performance.

About Air Lease Corporation (NYSE: AL)

Air Lease Corporation (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.

GE Aviation, an operating unit of GE (NYSE: GE), is a world-leading provider of jet, turboprop and turboshaft engines, components and integrated systems for commercial, military, business and general aviation aircraft. GE Aviation has a global service network to support these offerings.