Air Lease Corporation (NYSE: AL) announced a long term lease agreement with Far Eastern Air Transport (FEAT), an international airline based in Taipei, Taiwan, for one Boeing 737-800. The aircraft is presently on lease to a European carrier since early 2012 and will deliver to FEAT in June 2016. This is ALC's second 737 lease placement with FEAT, the first being a new 737-800 delivering in the second quarter of 2016 which was announced earlier this year.

"ALC is very pleased to place a second B737-800 aircraft with Far Eastern Air Transport. We will continue to work closely with the FEAT management team as they renew and expand their fleet," said Jie Chen, Air Lease Corporation's Executive Vice President and Managing Director, Asia.

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)

ALC is a leading 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 commercial aircraft and leasing them to its airline customers worldwide through customized aircraft leasing and financing solutions. For more information, visit ALC's website at www.airleasecorp.com.

About Far Eastern Air Transport

Far Eastern Air Transport (FEAT) is an international airline established in 1957 with domestic and international services to Cambodia, China, South Korea, Philippines, Taiwan, Vietnam, and Indonesia. Its head office and main base is Taipei Songshan Airport in Songshan District, Taipei, Taiwan (Republic of China).

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