Air Lease Corporation Improves Terms of $170 Million of Secured Debt

LOS ANGELES, Oct. 7, 2013 – Following Air Lease Corporation’s (NYSE: AL) investment grade ratings and strengthened credit profile, the company announced today that one of its banks has agreed to revise and improve the terms for approximately $170 million of secured debt related to the financing of six ALC aircraft.

Under the terms of the agreement, the bank has agreed to reduce the interest rate, extend the loan maturities and improve the principal amortization profiles of the loans. ALC has also extended two of the leases involved, one Boeing 737-800 and a Boeing 777-200ER, with their respective lessees in Europe.

“The resulting transactions will significantly reduce ALC’s interest expenses under these financings, and further add to our net cash flows now through 2020,” said Gregory B. Willis, Senior Vice President and Chief Financial Officer.