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Air Lease Corporation Announces Delivery of One New Airbus A321-200neo LR Aircraft to Air Astana

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Air Lease Corporation (NYSE: AL) announced the delivery of one new Airbus A321-200neo LR aircraft on long-term lease to Air Astana. This aircraft, featuring Pratt & Whitney PW1133G engines, is the fifth new A321-200neo LR to deliver to Air Astana from ALC’s order book with Airbus. In addition to the five A321-200neo LRs, Air Astana also has one A320-200, two A320-200neos and one A321-200neo on long-term lease from ALC.

"ALC is pleased to deliver this fifth A321-200neo LR aircraft to Air Astana today," said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation. "Our team has been thrilled to assist the airline with their long-term fleet modernization program."

"We are pleased to have taken delivery of our fifth A321LR from our partners at ALC," said Peter Foster, President and Chief Executive Officer of Air Astana. "The LR, with its improved range, lower emissions and outstanding two class configuration, including a 16 lie-flat seat Business Class cabin, is proving immensely popular with customers and crews alike, as we expand our international network following last year’s significant reduction."

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. 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.

About Air Astana

Air Astana is the principal airline and flag carrier of the Republic of Kazakhstan, based in Almaty, Kazakhstan. The airline operates scheduled domestic and international services from its main hub, Almaty International Airport, and from its secondary hubs, Nursultan Nazarbayev International Airport and Atyrau Airport.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210412005914/en/

Contacts

Investors:

Mary Liz DePalma
Vice President, Investor Relations
Email: investors@airleasecorp.com

Jason Arnold
Assistant Vice President, Finance
Email: investors@airleasecorp.com

Media:

Laura Woeste
Senior Manager, Media and Investor Relations
Email: press@airleasecorp.com

Ashley Arnold
Manager, Media and Investor Relations
Email: press@airleasecorp.com