LOS ANGELES, California, October 27, 2015 — Air Lease Corporation (ALC) (NYSE: AL) today announced that Standard & Poor's Ratings Services revised its outlook on ALC to positive from stable, and affirmed all ratings, including the 'BBB-' corporate credit rating.

Standard & Poor’s highlighted in its press release that the positive outlook reflects Air Lease Corporation’s improved credit metrics and the expectation that this trend will continue.

Greg Willis, Senior Vice President and Chief Financial Officer of Air Lease Corporation commented, “We are pleased that Standard & Poor's has recognized Air Lease’s strengthening credit profile with a positive outlook on our corporate credit rating. We benefit from diversified funding sources, our low-leverage unencumbered balance sheet, the strength of our core business, and the continued growth of the global airline industry.”

Additional information regarding ALC’s revision in outlook can be found in Standard and Poor’s press release dated October 26, 2015 available on Standard and Poor’s website at www.standardandpoors.com. None of the information on Standard and Poor’s website, including the press release, is incorporated by reference into or is otherwise a part of this press release. The upgrade is subject to revision or withdrawal at any time by the rating agency and is not a recommendation to buy, sell or hold securities.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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 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.

Investors:
Ryan McKenna
Vice President, Strategic Planning
Email: [email protected]

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