Air Lease Corporation Activity Update for the First Quarter of 2020

Today Air Lease Corporation (NYSE: AL) announced an update on deliveries, sales and new significant financing occurring in the first quarter of 2020.

As of March 31, 2020, ALC's fleet was comprised of 301 owned aircraft in its operating fleet and 82 managed aircraft with 399 new aircraft on order from Boeing and Airbus set to deliver through 2026.

Deliveries

• Delivered 8 new aircraft including 2 Airbus A320neos, 4 Airbus A321neos, 2 Boeing 787-10s, and acquired 1 A330-300 in the secondary market
• Aircraft investments in the quarter totaled approximately $700 million
• The majority of this quarter's orderbook deliveries occurred in the second half of the quarter

Sales

• Sold 3 aircraft to Thunderbolt Aircraft Lease Limited III
• Sales proceeds for the quarter totaled approximately $65 million

Financing

• Issued $1.4 billion of senior unsecured medium-term notes comprised of $750.0 million due 2025 at a fixed rate of 2.30% and $650.0 million due 2030 at a fixed rate of 3.00%
• Upsized senior unsecured revolving credit facility to $6.1 billion from $5.8 billion

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. Some or all of the results anticipated by these forward-looking statements are unknown at this time, including the ultimate impact of the COVID-19 pandemic on our results, prospects and opportunities. 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. ALC routinely posts information that may be important to investors in the "Investors" section of ALC's website at www.airleasecorp.com. Investors and potential investors are encouraged to consult the ALC website regularly for important information about ALC. The information contained on, or that may be accessed through, ALC's website is not incorporated by reference into, and is not a part of, this press release.