Air Lease Corporation (NYSE: AL) announced the delivery of a tenth Airbus A320-200 aircraft to Allegiant. Formerly on lease to Alaska Airlines, this is the tenth of ten used Alaska A320s to deliver to Allegiant Air from ALC.

“ALC is pleased to announce this tenth A320 delivery to Allegiant,” said Steven Udvar-Házy, Executive Chairman of Air Lease Corporation. “These ten young A320s are providing valuable service to Allegiant’s growing fleet with advanced technology and fuel-efficiency.”

To replace Alaska’s A320 fleet, ALC and Alaska signed long-term lease agreements for 14 new Boeing 737-9 aircraft of which 11 have already been delivered. The remaining aircraft are scheduled to deliver through the end of 2022 from ALC’s order book with Boeing.

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.

About Air Lease Corporation (NYSE: AL)

Air Lease Corporation is a leading global 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 new commercial aircraft and leasing them to its airline customers worldwide through customized aircraft leasing and financing solutions. The company routinely posts information that may be important to investors in the “Investors” section of its website at www.airleasecorp.com. Investors and potential investors are encouraged to consult Air Lease Corporation’s website regularly for important information. 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.

About Allegiant

Las Vegas-based Allegiant (NASDAQ: ALGT) is an integrated travel company with an airline at its heart, focused on connecting customers with the people, places and experiences that matter most. Since 1999, Allegiant Air has linked travelers in small-to-medium cities to world-class vacation destinations with all-nonstop flights and industry-low average fares. Today, Allegiant's all-Airbus fleet serves communities across the nation, with base airfares less than half the cost of the average domestic roundtrip ticket. For more information, visit us at Allegiant.com.

Investors: Jason Arnold Vice President, Investor Relations Email: investors@airleasecorp.com

Media: Laura Woeste Senior Manager, Media and Investor Relations Email: press@airleasecorp.com

Ashley Arnold Manager, Media and Investor Relations Email: press@airleasecorp.com

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