Air Lease Corporation Announces Delivery of Azores Airlines' First A321neo

LOS ANGELES, Dec. 14, 2017 -- Today Air Lease Corporation (NYSE:AL) (ALC) announced that Azores Airlines SATA International (Portugal) received its first new Airbus A321neo aircraft.  This aircraft is the first of six CFM Leap 1A engine-powered A321neos to be delivered to Azores Airlines from ALC’s order book with Airbus.  The next five A321neos will deliver between now and early 2021.

The airline, fully owned by SATA (Sociedade Açoreana de Transportes Aéreos), becomes the first Portuguese operator to receive a member of the best-selling A320neo Family.  By way of an extensive transatlantic network, these aircraft will connect Portugal and Azores to cities in the United States and Canada, in addition to major Western European cities.

“The six new ALC A321neo aircraft will progressively replace Azores’ aging A310s on routes from Azores to the USA and Canada as well as on the airline’s high frequency network to Portugal and Western Europe.  The A321neo brings new levels of operating efficiency, passenger comfort, low fuel burn and emissions as well as network flexibility to Azores,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation.

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 Azores Airlines SATA International

Azores Airlines SATA International was established in 1998, and since then has expanded its network of routes with a fleet of Airbus A310s, A320s and one A330-200. The airline operates domestic flights to Lisbon, Porto, Funchal, Ponta Delgada, Terceira, Horta, Pico and Santa Maria, in addition to scheduled services between the Azores and the United States and Canada, and between mainland Portugal and North America. Azores Airlines SATA International also offers scheduled flights to destinations such as London, Frankfurt and Munich, and several charter flights worldwide.