LOS ANGELES, June 20, 2017 — Today Air Lease Corporation (NYSE:AL) announced the placement of six (6) new Boeing 737 MAX 8 and six (6) used 737-800 aircraft on long-term leases to Blue Air (Romania). The 737-800 aircraft, which ALC acquired from Pegasus Airlines, began delivering in May 2017 and will continue through Q4 2017. The new 737 MAX 8 aircraft are scheduled for delivery between mid-2019 and Q1 2021, from ALC’s order book with Boeing.

“We are pleased to announce this strategic lease placement with Blue Air, a new customer for ALC. We look forward to a successful long term relationship with Blue Air as it continues to modernize its fleet in order to offer superior services and cost efficiencies that are passed on to their customers,” said Marc Baer, Executive Vice President of Air Lease Corporation.

“This new lease agreement is a great opportunity to develop and grow our relations with Air Lease Corporation as a strategic partner sustaining our ambitious development plans. Adopting the brand new 737 MAX family is an important milestone for Blue Air and the Romania aviation sector, allowing us to further improve our operating efficiencies,” said Gheorghe Racaru, Chief Executive Officer of Blue Air.

“During the past several weeks, Blue Air has already taken delivery of three of the six Boeing 737-800s from ALC and has placed them into their flight operations for their 2017 summer schedule,” said Steven F. Udvar-Hazy, Executive Chairman of Air Lease Corporation.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including expected delivery dates. 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.