LOS ANGELES, February 11, 2019 – Air Lease Corporation (NYSE: AL; “ALC”) announced today long-term lease agreements with Caribbean Airlines for four new Boeing 737 MAX 8 aircraft, scheduled to deliver to the airline starting in the fourth quarter of 2019 through 2020. These four new aircraft will join two Boeing 737-800s currently on lease to Caribbean Airlines from ALC.

“ALC is extremely pleased to announce this lease placement for four new Boeing aircraft with Caribbean Airlines and be the first to introduce the 737 MAX 8 to the airline this year,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation. “The capabilities of the 737 MAX 8 will improve operational efficiency and contribute to Caribbean Airlines’ long-term success as the flag carrier of Trinidad and Tobago.”

“The Boeing 737 MAX 8 will allow Caribbean Airlines to completely revamp and upgrade its fleet by replacing its older Boeing 737-800s,” added Kishore Korde, Executive Vice President of Air Lease Corporation. “As a testament to our strong relationship with Caribbean Airlines spanning over two decades, the Boeing 737 MAX 8 is the third new aircraft type that ALC team members have introduced to the airline (and its predecessor) during their careers.”

“Caribbean Airlines is delighted to introduce the Boeing 737 MAX 8 to our fleet with ALC,” said Garvin Medera, Chief Executive Officer of Caribbean Airlines. “The 737 MAX 8 will play an integral role in our success going forward as we continue to increase our competitiveness and high-quality customer service throughout the Caribbean and North and South America.”