Leases for 11 new and three used Boeing Aircraft signed with Oman Air

LOS ANGELES, August 19, 2015 - Today Oman Air and Air Lease Corporation (NYSE: AL) announced long term lease agreements for 14 jet aircraft. The lease agreements cover three new Boeing 737-800s, seven new Boeing 737-8MAXs, and one new Boeing 787-9, all from ALC’s order book with Boeing. This transaction also includes one used Boeing 737-700 (MSN 33103) and two used Boeing 737-800 aircraft (MSNs 33104 and 34242). The deliveries are scheduled to begin in 2015 and continue through to 2019.

Oman Air’s Chief Financial Officer, Japeen Shah, said, “We are very pleased to sign these agreements with Air Lease Corporation. They enable Oman Air to continue its ambitious fleet and network expansion program, and deliver even greater choice and convenience for our customers. Our expansion plan will see Oman Air’s fleet expand to 57 aircraft by 2018, and to 70 aircraft by 2020. This agreement represents a significant step towards achieving our strategic aims. Furthermore, Air Lease Corporation is at the forefront of the aircraft leasing industry and shares Oman Air’s commitment to realising excellence in all aspects of its work. We look forward to a fruitful partnership.”

Oman Air’s increased fleet size is enabling it to offer even more exciting destinations within its global network. Over recent months, new services have been launched to Manila, Jakarta, Goa and Singapore. Further new services will be announced closer to the time of their launch, and are expected to include, amongst others, destinations in Bangladesh and China.

“We are delighted to announce these strategic lease placements with Oman Air,” said Alex Khatibi, Executive Vice President of Air Lease Corporation. “These aircraft will aid Oman Air with the renewal and growth of their fleet, and we look forward to a strong and valued relationship with them throughout this process.”

About Oman Air
Oman Air, the national carrier of the Sultanate of Oman, was founded in 1993 and has evolved into an acclaimed international luxury airline with an Official 4 Star Airline ranking from Skytrax. With a fleet of 39 aircraft flying to over 48 destinations across the Middle East, Europe, Asia and Africa, Oman Air’s hospitality, comfort and space offer all customers a seamless passenger experience, whether they are travelling in First Class, Business Class or Economy Class. The airline’s commitment to quality and innovation has seen it pioneer inflight mobile phone and wi-fi connectivity and receive awards from prestigious organisations in the Middle East, Europe and Asia.

Oman Air’s commitment to quality, comfort and a seamless passenger experience has resulted in acclaim at the Skytrax World Airline Awards, including: Best Business Class Seat in the World (2011, 2012); Service Excellence, Middle East (2011); and Best Staff Service, Middle East (2014). The World Travel Awards have also honoured Oman Air with World’s Leading Airline – Economy Class 2014, Best Business Class Airline – Middle East 2014, and Best Economy Class Airline – Middle East 2013 and 2014. The more recent awards that Oman Air has won were at the World Travel Awards Middle East 2015, wherein the national carrier of the Sultanate of Oman came top in the ‘Middle East's Leading Airline - Business Class’ and ‘Middle East's Leading Airline - Economy Class’ categories and also at the Skytrax World Airline Awards 2015 where Oman Air was named as the winner of the ’Best Airline Staff Service in the Middle East’ award. www.omanair.com

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.

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