Air Lease Corporation Announces Lease Placement of Four Boeing 737-8 MAX Aircraft with Belavia-Belarusian Airlines

FARNBOROUGH, United Kingdom, July 17, 2018 (GLOBE NEWSWIRE) -- Air Lease Corporation (NYSE:AL) (“ALC”) announced today long-term lease agreements with Belavia-Belarusian Airlines for four new CFM LEAP-1B25-powered Boeing 737-8 MAX aircraft scheduled for delivery in 2019 and 2020. The first aircraft will deliver from ALC’s order book with Boeing in May 2019.

“ALC is pleased to announce this placement with Belavia at Farnborough International Airshow today,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation. “The advance technologies in the MAX 8 aircraft will provide a new level of efficiency and comfort to Belavia’s customers, and we look forward to continuing our successful relationship with the airline as it optimizes its fleet and expands its network.”

Alex Khatibi, Executive Vice President of Air Lease Corporation added, “The investment in new Boeing 737-8 MAX aircraft supports Belavia’s continued efforts to be forward-thinking and maintain a modern and versatile fleet to remain competitive in the market.”

“Belavia-Belarusian Airlines is systematically continuing to implement the strategy of the fleet renewal, thanks to cooperation with such reliable partners as ALC. The acquisition of four next-generation aircraft on a lease will contribute to the further development of the airline and, consequently, to the improvement of the quality of passenger service,” said Anatoly Gusarov, Director General of Belavia-Belarusian Airlines. “We hope that the delivery of the Boeing 737 MAX will allow our passengers to start travelling only with positive impressions and will make flights as comfortable as possible,” continued Anatoly Gusarov.

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 Belavia-Belarusian Airlines

Belavia-Belarusian Airlines takes the leading position in passenger air transportations on the Belarusian market. Belavia is based at the National Airport Minsk and carries out regular flights from Minsk to 50 airports in 27 countries. Belavia was established on March 5, 1996. Since 1997, it is a full member of the International Air Transport Association (IATA), since 2010 - a member of the Association of European Regional Airlines (ERAA). The airline's fleet consists of 29 aircraft (five Boeings 737-800, six Boeings 737-500, seven Boeings 737-300, three Embraers-175, four Embraers-195, four CRsJ-100 / -200).

The airline’s concept of positive image shaping is based on the safe regular and punctual operations as well as on improvement of passenger service quality.

Belavia is a modern, rapidly growing company that meets requirements of the latest innovations in air transport and is constantly focused on further development and improvement of the airline and attraction of greater number of passengers. Among the priorities of Belavia is its fleet renewal, optimization of resources, implementation of modern information technologies and improvement of service level both in flight and on the ground.

The Airline is customer-oriented and makes its best efforts to provide air traveling possibilities both by its own direct flights and those of its partners to continue their journey immediately to any country in the world as per customer’s needs.

Business travelers and tourists can appreciate at its true value Belarusian hospitality and responsible attitude of the airline staff to fulfillment of their functions. Owing to the cooperative team of highly qualified professionals who are proud of their work, the Belavia Team has showed itself as a reliable and competitive air carrier.