Air Lease Corporation Announces Lease Placement with Corendon Airlines

LOS ANGELES—(BUSINESS WIRE)—Air Lease Corporation (NYSE: AL) announced today that Corendon Airlines (Turkey) and ALC signed a 5 year lease agreement for one Boeing 737-800 (MSN 32920) aircraft, delivering in February 2013.

Corendon Airlines is a regional carrier operating 30 routes out of Antalya Airport, Turkey. Corendon has experienced significant annual passenger growth since the airline’s inception in 2005.

“ALC is pleased to announce our first aircraft placement with Corendon Airlines, which is a new addition to our expanding global customer base. We will continue to support Corendon as they grow their business with modern, fuel efficient aircraft,” said Alex Khatibi, Executive Vice President of Air Lease Corporation.

“This agreement is not only a step in our 2013 fleet expansion project, but also a start of the relationship with ALC, a prominent aircraft leasing company,” said Yildiray Karaer, Chief Executive Officer of Corendon Airlines.