Air Lease Corporation Assigned Investment Grade Rating by Standard and Poors

LOS ANGELES, California, August 29, 2013 Air Lease Corporation (ALC) (NYSE: AL) today announced that it has been assigned an investment grade corporate credit rating of BBB- with a stable outlook by Standard and Poors Ratings Services. Additionally, ALCs senior unsecured notes due in 2016, 2017, and 2020 will also carry the same BBB- rating due to the companys low levels of secured debt.

Standard & Poors highlighted in its press release that the BBB- rating reflects Air Lease Corporations position as a rapidly growing major provider of aircraft operating leases, its ownership of young and diverse new-technology aircraft with stable asset values, and the expectation that ALCs growth will make it among the largest players in the industry within the next few years. ALCs low debt to equity ratio and strong interest coverage ratios were also key to the ratings outcome.

Steven F. Udvar-Hzy, Chairman and CEO of Air Lease Corporation said, Air Lease Corporation set out from day one to build a strong investment grade profile company. We are pleased that Standard and Poors recognized ALCs efficient business operations, financial strength, and stability in assigning the company an investment grade rating. This rating is a further testament to ALCs rapid rise as an aircraft leasing industry leader.

Greg Willis, Senior Vice President and Chief Financial Officer of Air Lease Corporation commented, Air Lease has delivered on the metrics it set out to achieve since the inception of the company. ALCs success in accessing diverse sources of capital has built a strong base to fund the companys aircraft purchases. We remain committed to keeping a balance sheet with low leverage and strong liquidity as an investment grade company.

Additional information regarding ALCs rating assignment can be found in Standard and Poors press release dated August 26, 2013 available on Standard and Poors website at www.standardandpoors.com. None of the information on Standard and Poors website, including the press release, is incorporated by reference into or is otherwise a part of this press release. The rating is subject to revision or withdrawal at any time by the rating agency and is not a recommendation to buy, sell or hold securities.