Air Lease Corporation Announces Delivery of New Airbus A320-200neo Aircraft to Atlantic Airways

Today Air Lease Corporation (NYSE: AL) (“ALC”) announced the delivery of one new Airbus A320-200neo aircraft on long-term lease to Atlantic Airways, the national airline of the Faroe Islands. Powered by CFM International LEAP-1A26 engines, this aircraft is the first of two A320-200neos confirmed to deliver to the airline from ALC’s order book with Airbus. The second A320-200neo is scheduled to deliver to Atlantic Airways in Spring 2020.

“ALC is pleased to announce the delivery to Atlantic Airways of its first A320-200 neo and is excited to be part of the fleet transformation at the airline,” said Grant Levy, Executive Vice President of Air Lease Corporation. “The A320-200neo will significantly enhance Atlantic Airways’ fleet operations by not only supporting the airline’s existing route structure but also allow the airline to grow its route network in Europe and North America.”

Atlantic Airways’ Chief Executive Officer, Jóhanna á Bergi said, “We are very pleased to receive our first Airbus A320-200neo. This will enhance passenger experience and Atlantic Airways' operations as national carrier, air bridge and life line.

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

About Atlantic Airways

Atlantic Airways is an international company whose corporate culture is known by its focus on safety, punctuality, the customer and the result. The Sørvágur-based company, which is the Faroese flag carrier airline, currently employs around 180 people. The Atlantic Airways fleet consists of three aircraft and two helicopters. The aircraft provide regular service between the Faroes and a range of cities in Denmark as well as neighboring countries, with direct routes to Paris, Copenhagen, Billund, Aalborg, Bergen, Reykjavik, Edinburgh, Barcelona, Mallorca, and Gran Canaria. In addition, the company’s activities include charter operation outside the Faroes. The helicopter department provides regular service to the different islands in the Faroes and search-and-rescue activities.