Air Lease Corporation Activity Update for the First Quarter of 2022

Today Air Lease Corporation (NYSE: AL) announced an update on aircraft investments, sales, new significant financing, and other activity occurring in the first quarter of 2022.

As of March 31, 2022, ALC’s fleet was comprised of 391 owned aircraft and 93 managed aircraft, with 451 new aircraft on order from Boeing and Airbus set to deliver through 2028.

Aircraft Investments

• Delivered eight new aircraft from ALC’s order book including one Airbus A320neo, two Airbus A321neos, one Airbus A330-900neo, three Boeing 737-8s, and one Boeing 737-9
• Purchased one incremental Boeing 737-800, which was concurrently leased to an ALC customer
• Aircraft investments in the quarter totaled approximately $490 million

Sales

• No aircraft sales occurred during the quarter

Financing

• Issued $1.5 billion of senior unsecured medium-term notes comprised of $750 million of 2.20% senior unsecured medium-term notes due 2027, and $750 million of 2.875% senior unsecured medium-term notes due 2032

Russia Exposure

• In March of 2022, we terminated leases for all ALC aircraft on lease to Russian airline customers.  We currently have 21 owned aircraft remaining in Russia, representing approximately 3.4% of our fleet by net book value as of March 31, 2022.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Some or all of the results anticipated by these forward-looking statements are unknown at this time, including the ultimate impact of the COVID-19 pandemic on our results, prospects and opportunities. 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. ALC routinely posts information that may be important to investors in the “Investors” section of ALC’s website at www.airleasecorp.com. Investors and potential investors are encouraged to consult the ALC website regularly for important information about ALC. The information contained on, or that may be accessed through, ALC’s website is not incorporated by reference into, and is not a part of, this press release.

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