LOS ANGELES, May 25, 2016 – Air Lease Corporation (NYSE: AL) announced today the placement of three new Airbus A321-200 CEOs, one new Airbus A321-200neo and one new A320-200neo aircraft on long-term leases to WOW air (Iceland). One A321-200 CEO delivered to the airline earlier this month, with the remaining two A321-200 CEOs delivering in Q3 and Q4 2016. The A320-200neo and A321-200neo aircraft are scheduled to deliver in Q1 2017 and Q1 2018, respectively. ALC purchased three of the aircraft from another operator just after delivery from Airbus and the other two aircraft are from ALC’s order book with Airbus.

“ALC is very pleased to announce these five new A321 and A320 lease placements with our new customer, WOW air. We look forward to a long-term relationship with WOW air as they continue to add new modern Airbus aircraft to modernize their expanding fleet and grow their network,” said Grant Levy, Air Lease Corporation’s Executive Vice President.