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Ethiopian Leases Two New Boeing 777- 300ERs from Air Lease Corporation

Tigrai Online April 23, 2013

Addis Ababa, April 22, 2013 — Ethiopian has signed a lease agreement with Air Lease Corporation for two new Boeing 777-300ER aircraft, both on lease for twelve years. The aircraft are scheduled for delivery in May and June 2015.

“We are very happy to finalize this deal with our strong partner, Air Lease Corporation. These two new Boeing 777-300ERs are critical for our rapidly expanding non-stop long haul routes. Today, our network of 72 international destinations covers four continents through our main hub in Addis Ababa, offering the most convenient connections to passengers traveling between Africa and the rest of the world. The introduction of these two new Boeing 777s into our young and modern fleet is part of our continuing commitment to afford our customers the best possible on-board long haul experience”, said Tewolde Gebremariam, CEO of Ethiopian Airlines.

"We are proud to expand our relationship with Ethiopian Airlines by placing two brand new 777-300ERs into their long haul fleet. These aircraft will enhance their intercontinental operations with leading fuel efficiency and a premier passenger experience,” said Kishore Korde, Air Lease Corporation’s Senior Vice President.

About Ethiopian

Ethiopian Airlines, the fastest growing airline in Africa, made its maiden international flight to Cairo in 1946 and now the airline provides dependable services to 70 international destinations spanning four continents. Ethiopian is proud to be a Star Alliance Member. The Star Alliance network is the leading global airline network offering customers convenient worldwide reach and a smoother travel experience. The Star Alliance network offers more than 21,555 daily flights to 1,356 airports in 193 countries. Ethiopian is a multi-award winner for its commitment and contributions towards the development and growth of the African aviation industry and in recognition of its distinguished long-haul operations enhanced by the introduction of new routes and products. With its acquisition of and firm orders for several new modern fleet, the airline is well positioned to pursue aggressively the implementation of its Vision 2025 strategic plan to become the leading aviation group in Africa.

About Air Lease Corporation (NYSE: AL)

ALC is an 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 partners worldwide through customized aircraft leasing and financing solutions. For more information, visit ALC's website at www.airleasecorp.com.

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