LOS ANGELES, September 2, 2016 – Air Lease Corporation (NYSE: AL) is correcting an erroneous media report published this week that Steven Udvar-Házy, the Executive Chairman of the Board of Air Lease Corporation retired on September 1, 2016. As reported on June 17, 2016, the company announced that Mr. Udvar-Házy would become Executive Chairman of the Board on July 1, 2016, a full-time officer role. Since July 1, 2016, Mr. Udvar-Házy, the founder of the Company and a large shareholder, has been and continues to serve in his full-time role as Executive Chairman of the Board.

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.