Air Lease Corporation Announces Lease Placement of Ten New Airbus A321-200neo Aircraft and Sale & Lease-back of Five New Airbus A320-200neo Aircraft with Spirit Airlines

LOS ANGELES, California, September 8, 2021 – Air Lease Corporation (NYSE: AL) announced today long-term lease placements for ten new Airbus A321-200neo aircraft and sale and lease-backs of five new Airbus A320-200neo aircraft with Spirit Airlines.  The five A320neos are scheduled to deliver to Spirit Airlines in 2021 and 2022 and will be owned by one of ALC’s managed aircraft ventures through funds managed by Waterfall Asset Management.  The ten A321neos are scheduled to deliver to Spirit Airlines from ALC’s orderbook with Airbus beginning in 2023 through 2024.

“ALC is pleased to announce this transaction for fifteen Airbus A320 & A321neos with Spirit Airlines,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation.  “ALC is unmatched in our ability to offer highly customized fleet planning solutions to our airline partners.  Combining sale and leasebacks for near term deliveries of Spirit’s A320neos on behalf of our managed business with direct placement of ten of our A321neos from our orderbook with Airbus will further enhance Spirit Airlines’ overall operations and commitment to maintain a highly competitive, fuel-efficient fleet.”

“We appreciate our partnership with ALC on the financing of 15 new aircraft delivering now through 2024. This partnership helps us to achieve our previously announced capacity plans for 2022 and 2023, and our targeted growth in 2024, as we Invest in the Guest and deliver new exciting destinations,” said Scott Haralson, Chief Financial Officer of Spirit Airlines.