Reading Time: 2 minutes

PARIS–(BUSINESS WIRE)–Today Air Lease Corporation (NYSE: AL; “ALC”) announced the long-term
lease placement with Korean Air for ten new Boeing 787-10 aircraft.
Scheduled to deliver to the airline starting in 2021 through 2023 from
ALC’s order book with Boeing, these ten 787-10s from ALC are the first
-10 Dreamliner aircraft to be placed in Korean Air’s fleet.

“As a launch customer for the 787-10, ALC is thrilled to announce this
major lease placement introducing the 787-10 to Korean Air’s fleet, a
project we have worked on with Korean and Boeing for a long time. The
787-10 will bring new levels of Korean Air’s outstanding service to its
passengers, and provide significant revenue benefits to Korean’s global
network,” said John L. Plueger, Chief Executive Officer and President of
Air Lease Corporation.

“As we continue to innovate our product offering, the 787 Dreamliner
family will become the backbone of our long-haul fleet for many years to
come,” said Walter Cho, Chairman of Korean Air. “In addition to 25
percent improved fuel efficiency, the stretched 787-10 offers around 15
percent more space for passengers and cargo than our 787-9s, which will
be critical to our long-term business goals.”

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. For more information, visit ALC’s website at www.airleasecorp.com.

About Korean Air

Korean Air is both the flag carrier and the largest airline of South
Korea, with global headquarters located in Gonghang Dong, Gangseo-gu,
Seoul, South Korea. Korean Air’s international passenger division and
related subsidiary cargo division together serve 130 cities in 45
countries, while its domestic division serves 20 destinations. It is
among the top 20 airlines in the world in terms of passengers carried
and is also the top-ranked international cargo airline. Incheon
International Airport serves as Korean Air’s international hub.

Contacts

Investors:
Mary Liz DePalma
Assistant Vice President, Investor
Relations
Email: [email protected]

Jason Arnold
Assistant Vice President, Finance
Email: [email protected]

Media:
Laura Woeste
Manager, Media and Investor Relations
Email:
[email protected]