Air Lease Corporation Activity Update for the Second Quarter of 2021

Today Air Lease Corporation (NYSE: AL) announced an update on aircraft investments, sales, new significant financing, and recent ratings updates occurring in the second quarter of 2021.

As of June 30, 2021, ALC’s fleet was comprised of 354 owned aircraft and 89 managed aircraft, with 339 new aircraft on order from Boeing and Airbus set to deliver through 2027.

Aircraft Investments

• Delivered twelve new aircraft from ALC’s order book including two Airbus A320neos, three Airbus A321neos, one Airbus A330-900neo, one Airbus A350-900, two Boeing 737-8s, one Boeing 737-9, and two Boeing 787-9s
• Aircraft investments in the quarter totaled approximately $1 billion, with the majority occurring in the second half of the quarter

Sales

• No aircraft sales occurred during the quarter

Financing

• Issued $1.2 billion of 1.875% senior unsecured medium-term notes due 2026
• Issued $600 million of floating rate senior unsecured medium-term notes at LIBOR + 0.35% due 2022
• Upsized senior unsecured revolving credit facility to $6.4 billion from $6.2 billion

Ratings

• On July 1, 2021, ALC’s long-term rating from Fitch was affirmed at BBB with outlook revised to Stable from Negative

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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