Air Lease Corporation (NYSE: AL) announced the delivery of one new Boeing 787-10 to Korean Air. This aircraft is the first of ten 787-10s confirmed to deliver to the Korean flag carrier from ALC’s orderbook with Boeing.

“ALC is thrilled to announce delivery of the first of ten new Boing 787-10 aircraft leased to our longtime customer, Korean Air. We are honored to continue to build on our strong relationship with Korean and support its exciting and transformational growth as one of the world’s premier airlines,” said John L. Plueger, Chief Executive Officer and President of Air Lease Corporation.

“Korean Air is excited to extend our strong relationship with ALC,” said Walter Cho, Chairman and Chief Executive Officer of Korean Air. “Korean Air has been a longtime loyal customer of ALC, and this addition will strengthen the future relationship. The 787-10 from ALC will be part of Korean Air's flagship aircraft, serving many key destinations around the world. With competitive and sustainable aircraft such as the 787-10, ALC and Korean Air will continue to strengthen the already strong relationship between the two companies.”

ALC currently has five Boeing aircraft on long-term lease to Korean Air, including two 777-300ERs and three 737-800s.

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 Korean Air

Korean Air is both the flag carrier and the largest airline of South Korea, with global headquarters located in Gonghang Dong, Gangseo-gu, Seoul, South Korea. Korean Air's international passenger division and related subsidiary cargo division together serve 130 cities in 45 countries, while its domestic division serves 20 destinations. It is among the top 20 airlines in the world in terms of passengers carried and is also the top-ranked international cargo airline. Incheon International Airport serves as Korean Air's international hub.

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

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