LOS ANGELES, February 12, 2018 - Air Lease Corporation (NYSE: AL) announced a long term lease agreement for one Airbus A320-200neo with Atlantic Airways, the national airline of the Faroe Islands. The aircraft will deliver in March 2019 from ALC’s order book with Airbus.

“We are very pleased to announce this new lease placement with Atlantic Airways, a new customer for ALC,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation. “Atlantic Airways connects the Faroe Islands in the North Atlantic with multiple destinations in Scandinavia and a growing route network in Europe. The A320neo will help add capacity and efficiency to Atlantic’s all-Airbus fleet.”

Grant Levy, Air Lease Corporation’s Executive Vice President added, “ALC is delighted to welcome Atlantic Airways as our newest customer, and we expect the addition of the A320neo to enhance their fleet operations and provide their passengers with an even better experience than the great service already provided by Atlantic Airways.”

“The addition of this modern, fuel-efficient A320neo aircraft supports our main objective to connect the Faroe Islands with the world, providing good fares to Faroese travelers and further developing the Faroese tourist industry,” said Jóhanna á Bergi, CEO of Atlantic Airways.