U.S. Markets open in 3 hrs 54 mins

Air Lease Corporation Announces Lease Placement of Three New Boeing 787-9 Aircraft with Air Premia

LOS ANGELES--(BUSINESS WIRE)--

Today Air Lease Corporation (NYSE: AL; “ALC”) announced long-term lease agreements with Air Premia (South Korea) for three new Boeing 787-9 aircraft, all scheduled for delivery in 2020. The three Dreamliner aircraft are scheduled to deliver starting in Summer 2020 through Fall 2020 from ALC’s order book with Boeing.

“We are honored and excited to be providing Air Premia the first three new Boeing 787-9 Dreamliners on long-term lease from ALC,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation. “These new aircraft will offer advanced dimensions in comfort, service and affordability in the Korean marketplace, and will serve Air Premia’s route network efficiently with the latest technology long-range aircraft. ALC is proud of our business association with Air Premia and to contribute to the new airline’s success.”

“Air Premia has reached a critical milestone as a start-up airline as we prepare to launch our first commercial flight next year in South Korea. We are pleased to embark on this journey with ALC, a trustworthy partner with the market presence to fully support us to introduce our industry disruptive business model to the Northeast Asia market successfully,” said Dr. Jong Chul Kim, Chief Executive Officer of Air Premia.

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 (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 Air Premia

Air Premia is South Korea's newly-established hybrid air carrier focused on direct trips from Seoul to Los Angeles and San Jose. The innovative airline offers customers upscale services at a reasonable price. With an exclusively Boeing 787-9 Dreamliner fleet, Air Premia customers will be able to enjoy the most advanced in-flight experience. For more information, please visit www.airpremia.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190409005426/en/