SOURCE: Pratt & Whitney; June 19, 2013

PARIS, June 19, 2013 – Air Lease Corporation (NYSE:AL) has signed a Memorandum of Understanding for Pratt & Whitney PurePower PW1100G-JM engines to power its order of 30 firm A320/A321 neo aircraft. Deliveries are scheduled to start in 2016. Pratt & Whitney is a division of United Technologies Corp. (NYSE:UTX).

“We are pleased to add these Pratt & Whitney PurePower PW1100G-JM-powered Airbus A320/A321 neo aircraft to our portfolio to help airlines continue to grow their fleets with the latest technology and fuel efficient aircraft,” said John Poerschke, Senior Vice President of Air Lease Corporation.

“Pratt & Whitney is excited to continue its relationship with Air Lease Corporation with this order PurePower PW1100G-JM engine order,” said Todd Kallman, Pratt & Whitney Commercial Engines president. "Thanks to our Geared Turbofan™ technology, we are confident these engines will serve ALC's customers well with increased operational efficiencies compared to today's engines."

These 30 Air Lease Corporation Airbus A320/A321 neo aircraft will be powered by two PurePower engines. Pratt & Whitney has announced more than 3,500 orders, including announced and unannounced firm orders, plus options. The PurePower family of engines uses an advanced gear system allowing the engine’s fan to operate at a different speed than the low-pressure compressor and turbine. The combination of the gear system and an all-new advanced core deliver the improvements in fuel efficiency, environmental emissions and noise.

The PurePower engine uses an advanced gear system allowing the engine’s fan to operate at a different speed than the low-pressure compressor and turbine. The combination of the gear system and an all-new advanced core delivers the fuel efficiency and environmental benefits.

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.

Pratt & Whitney is a world leader in the design, manufacture and service of aircraft engines, auxiliary and ground power units and small turbojet propulsion products. United Technologies Corp., based in Hartford, Connecticut, is a diversified company providing high technology products and services to the building and aerospace industries. To learn more about UTC, visit the website or follow the company on Twitter: @UTC.

This release includes “forward looking statements” concerning anticipated business opportunities that are subject to risks and uncertainties, including with regard to the programs described in this release. Risks and uncertainties that could cause actual results to differ materially from those anticipated or implied in forward looking statements include the effect of economic conditions in the markets in which we operate, including financial market conditions, and fluctuation in interest rates, commodity prices and foreign currency exchange rates; levels of end market demand in the aerospace industry, including levels of demand for the new aircraft described in this release; levels of air travel; financial difficulties of commercial airlines; the financial condition of suppliers; and challenges in the design, development, production and support of advanced technologies and new products and services. For information identifying other important economic, political, regulatory, legal, technological, competitive and other uncertainties, see UTC's 10-K, 10-Q and other reports filed with the SEC.

For more information on the Pratt & Whitney PurePower engine, visit: www.purepowerengines.com

Twitter: http://twitter.com/purepowerengine

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Sara Banda
Pratt & Whitney
[email protected]
Int'l Cell +1-860-202-8644

Air Lease Corporation Contacts:

Ryan McKenna
[email protected]

Laura St. John
[email protected]