Air Lease Corporation Activity Update for the Second Quarter of 2018

LOS ANGELES, July 10, 2018 (GLOBE NEWSWIRE) -- Today Air Lease Corporation (NYSE:AL) (“ALC”) announced an update on activity taking place in the second quarter of 2018:

As of June 30, 2018, ALC’s fleet was comprised of 271 owned aircraft and 49 managed aircraft, with commitments to acquire a total of 358 new aircraft for delivery through 2023.

ALC purchased 18 aircraft during the second quarter of 2018

• 14 new aircraft delivered from ALC’s orderbook including 6 Boeing 737 MAX 8s, 3 Boeing 787-9s, 3 Airbus A321neos and 2 Airbus A350-900s
• 4 incremental, young Airbus A321-200s which were leased to an existing ALC customer

Timing of orderbook deliveries and incremental aircraft purchases

• Approximately half of the quarter’s orderbook deliveries and incremental purchases occurred in the last two weeks of June

Sales

• No aircraft sales took place in the second quarter

Financing

• Issued $500 million of 3.875% unsecured senior notes due 2023
• Amended and extended 4-year unsecured revolving credit facility increasing total revolving commitments to $4.5 billion across 50 financial institutions   

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.