Nov 1, 2018   SOURCE: BusinessWire

Air Lease Corporation Announces Lease Placement of Airbus A320neo Aircraft with Air Seychelles

Air Lease Corporation (NYSE: AL; “ALC”) announced today the lease placement of one new Airbus A320neo aircraft on long-term lease to Air Seychelles (Republic of Seychelles) from ALC’s order book with Airbus. The new aircraft will feature CFM LEAP 1A-26 engines and is confirmed to deliver to the airline in the first quarter of 2020.

“ALC is pleased to announce this significant long-term lease placement with Air Seychelles,” said Steven Udvar-Házy, Executive Chairman of Air Lease Corporation. “This A320neo will be a key addition to the airline’s fleet as Air Seychelles continues to grow its network and maximize their competitive advantage in the region.”

“We are very pleased to announce that the lease agreement with Air Lease Corporation has been completed for the order of the second A320neo,” said Remco Althuis, Chief Executive Officer of Air Seychelles. “The new aircraft will not only position Air Seychelles as the ‘airline of choice within the Indian Ocean,’ but it will also enable Air Seychelles to operate in a more efficient manner. This is definitely a significant milestone for the national airline and we thank Air Lease Corporation for their support throughout this process.”

This new A320neo is the second of two Airbus aircraft on lease to Air Seychelles from Air Lease Corporation and joins an A320-200 aircraft currently on long-term lease to the airline.

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 Seychelles

Air Seychelles was established in 1978 and began long-haul service in 1983. The airline currently offers international flights to Abu Dhabi, Johannesburg, Mauritius and Mumbai. Air Seychelles also offers more than 350 domestic scheduled flights a week throughout the archipelago, including domestic charter services. As the national airline of the Republic of Seychelles, Air Seychelles is a pillar of tourism, the island nation’s strongest and growing economic sector. The airline maintains a strategic partnership with Etihad Airways, the national airline of the United Arab Emirates and 40 per cent stakeholder.