LOS ANGELES, California, January 14, 2020 — Today Air Lease Corporation (NYSE: AL) announced an update on activity taking place in the fourth quarter of 2019:

As of December 31, 2019, ALC’s fleet was comprised of 292 owned aircraft and 85 managed aircraft with 413 new aircraft on order from Boeing and Airbus through 2026.

Deliveries

• Delivered 11 new aircraft including 2 Airbus A320neos, 7 Airbus A321neos, 1 Airbus A330-900neo, 1 Boeing 787-10 and acquired 1 A330-300 in the secondary market
• Aircraft investments in the quarter totaled approximately $825 million

Sales

• Sold 19 aircraft including 11 aircraft to Thunderbolt Aircraft Lease Limited III and the remainder to other buyers
• Sales proceeds for the quarter totaled approximately $585 million

Financing

• Issued CAD$400 million senior unsecured medium-term notes at a fixed rate of 2.625%

Orders

• Pursuant to existing MOUs, entered into agreements with Airbus for 50 A220 aircraft (with purchase options for an additional 25 A220 aircraft), 25 A321neo aircraft and 27 A321neo XLR aircraft, with deliveries of the aircraft scheduled to commence in 2021 and continue through 2026