Air Lease Corporation Announces Delivery of First of Five New Boeing 737-8 Aircraft to Belavia

Air Lease Corporation (NYSE: AL) announced the delivery of one new Boeing 737-8 aircraft on long-term lease to Belavia-Belarusian Airlines. Featuring CFM LEAP-1B engines, this is the first of five new Boeing 737-8s confirmed to deliver to Belavia from ALC’s order book with Boeing.

“ALC is pleased to confirm this historic and significant transaction with Belavia, delivering the airline’s first 737-8 today,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation. “Our team introduced the Boeing 737 aircraft family to Belavia 18 years ago and now we are delighted to announce the first of five new 737-8s on long-term lease with the airline.”

"Since 2003, our passengers have been traveling on Boeing aircraft. Our desire to develop and constantly increase our service level with maximum flight safety does not allow us to stand still. Today, our long-standing partners — Air Lease Corporation and Boeing — have helped us to open a new page in the development of our fleet. The next-generation Boeing 737-8 aircraft will gradually replace the Boeing 737-300 and Boeing 737-500 operated by our airline, which will significantly renew the aircraft fleet of Belavia-Belarusian Airlines. It should also be noted that the 737-8 aircraft have better characteristics: they are more environmentally friendly and cost-efficient. This will allow us to do what is so expected of us: to reduce the cost of air tickets. For passengers, this aircraft will differ from the usual 737-800 aircraft, primarily in the Business Class cabin. It will be a separate cabin with 12 comfortable seats. Thus, we will offer a significant increase in the service level for our passengers. We are very carefully preparing for acceptance of the aircraft: our pilots completed training for this type of aircraft a year ago. Now, they are repeating training. This also concerns the technical personnel: they are re-trained and confirm their readiness for maintenance of this type of aircraft. When accepting a new aircraft, we must be sure of the safety of our passengers and will do everything to guarantee it. We hope that each trip of our passengers will be more comfortable and bright," said Igor Tcherginets, Director General of Belavia-Belarusian Airlines.

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 Belavia

Belavia-Belarusian Airlines is the largest airline of the Republic of Belarus. It was established on March 5, 1996. The airline is a full member of the International Air Transport Association (IATA) from 1997, a member of the European Regional Airlines Association (ERAA) from 2010. Currently, there are 29 aircraft (one Boeing 737-8, nine Boeing 737-800, two Boeing 737-500, three Boeing 737-300, five Embraer-175, seven Embraer-195, two Embraer 195-E2 aircraft) in the airline's fleet. More information is available on the official website of the airline: www.belavia.by or in social networks: Facebook, Instagram, Twitter, VKontakte.

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