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Air Lease Corporation Announces Lease Placement of One New Airbus A321-200neo Aircraft with Pegasus Airlines

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Today Air Lease Corporation (NYSE: AL) announced a long-term lease agreement for one new Airbus A321-200neo aircraft with Pegasus Airlines (Turkey). Scheduled to deliver in Spring 2023, this aircraft will deliver to the airline from ALC’s order book with Airbus.

Pegasus Airlines also confirmed to sell four young Boeing 737-800 aircraft to ALC as part of a sale-leaseback transaction. The airline will lease these four 737 aircraft back from ALC.

"ALC is pleased to announce these lease placements with Pegasus Airlines today," said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation. "This deal aligns with Pegasus Airlines’ fleet modernization and rationalization efforts to advance the airline’s environmental, financial and operational performance."

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. ALC routinely posts information that may be important to investors in the "Investors" section of ALC’s website at www.airleasecorp.com. Investors and potential investors are encouraged to consult the ALC website regularly for important information about ALC. The information contained on, or that may be accessed through, ALC’s website is not incorporated by reference into, and is not a part of, this press release.

About Pegasus

Pegasus is a leading low-cost airline in Turkey, which provides reasonably-priced transportation opportunities on point-to-point basis in short and medium range flight lines and aims to set up a wide flight network with high flight frequency for guests.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201222005161/en/

Contacts

Investors:

Mary Liz DePalma
Vice President, Investor Relations
Email: investors@airleasecorp.com

Jason Arnold
Assistant Vice President, Finance
Email: investors@airleasecorp.com

Media:

Laura Woeste
Senior Manager, Media and Investor Relations
Email: press@airleasecorp.com

Ashley Arnold
Manager, Media and Investor Relations
Email: press@airleasecorp.com