Air Lease Corporation Announces Lease Placement of

LOS ANGELES, Feb. 23, 2017 (GLOBE NEWSWIRE) -- Today Air Lease Corporation (NYSE: AL ) announced a long term lease agreement with Air New Zealand (NZX:AIR) (ASX:AIZ) for one new Boeing 787-9 aircraft. The aircraft is from ALC’s order book with Boeing and is scheduled for delivery in Q3 2018.

"Air New Zealand is one of ALC’s first and longtime cornerstone airline customers.  The relationship between Air New Zealand and ALC’s management dates back to transactions involving Lockheed Electras, so we are proud to be part of the evolution of Air New Zealand’s fleet by leasing them a new 787-9,” said Grant Levy, Executive Vice President of Air Lease Corporation.

ALC currently has Airbus A320s and Boeing 777-300ERs on lease to Air New Zealand, with the five new A321neo and A320neo aircraft which start delivering later this year on long term leases.

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.  For more information, visit ALC's website at www.airleasecorp.com .

About Air New Zealand (NZX: AIR; ASX: AIZ)

Air New Zealand is an international and domestic airline group which provides air passenger and cargo transport services from New Zealand to Australia, the Pacific Islands, Asia, North and South America and the United Kingdom.

Investors: Ryan McKenna Vice President Email: rmckenna@airleasecorp.com Media: Laura St. John Manager, Media and Investor Relations Email: lstjohn@airleasecorp.com