Air Lease Corporation Announces Lease Placement with Corendon Airlines

LOS ANGELES--(BUSINESS WIRE)--Air Lease Corporation (NYSE: AL) announced today that Corendon Airlines (Turkey) and ALC signed a 5 year lease agreement for one Boeing 737-800 (MSN 32920) aircraft, delivering in February 2013.

“ALC is pleased to announce our first aircraft placement with Corendon Airlines, which is a new addition to our expanding global customer base. We will continue to support Corendon as they grow their business with modern, fuel efficient aircraft”

Corendon Airlines is a regional carrier operating 30 routes out of Antalya Airport, Turkey. Corendon has experienced significant annual passenger growth since the airline’s inception in 2005.

"ALC is pleased to announce our first aircraft placement with Corendon Airlines, which is a new addition to our expanding global customer base. We will continue to support Corendon as they grow their business with modern, fuel efficient aircraft," said Alex Khatibi, Executive Vice President of Air Lease Corporation.

“This agreement is not only a step in our 2013 fleet expansion project, but also a start of the relationship with ALC, a prominent aircraft leasing company,” said Yildiray Karaer, Chief Executive Officer of Corendon 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 an 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 partners worldwide through customized aircraft leasing and financing solutions. For more information, visit ALC's website at www.airleasecorp.com.

About Corendon Airlines

Corendon is a Dutch-Turkish group of companies, doing business mainly in Tourism and Aviation. Corendon Airlines is a Turkish registered charter airline authorized by the Republic of Turkey Ministry of Transport and Communication under the license number of TR-015. One and a half million passengers has chosen Corendon Airlines in the year of 2012 to various destinations including; Austria, Belgium, Bosnia and Herzegovina, Croatia, Czech Republic, Denmark, Finland, France, Germany, Iceland, Israel, Italy, Kazakhstan, Kosovo, Macedonia, Netherlands, Norway, Poland, Romania, Spain, Sweden, Switzerland etc. More information can be reached via Corendon's website at www.corendon.com.