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TM AIR LEASE CORPORATION Exhibit 99.1 Air Lease Corporation Announces First Quarter 2021 Results Los Angeles , California , May 6 , 2021 - Air Lease Corporation ( ALC ) ( NYSE : AL ) announces financial results for the three months ended March 31 , 2021 . " We continued helping our customers through a difficult winter season in Q4 and Q1 and we are hopeful that the worst of the global pandemic is behind us . The world's airlines need much more time for financial recovery , yet fleet renewal remains a top priority and we are heavily involved in this process . For Q1 , we exceeded our aircraft investment expectations , and our operating cash flow increased modestly relative to last year's pre - pandemic first quarter . We see accelerating domestic traffic recovery in multiple geographic regions , with expectations of improvement over the remainder of 2021 in regions still heavily impacted , " said John L. Plueger , Chief Executive Officer and President . " Lease placements from our forward orderbook are tracking well , as airlines recognize that re - fleeting with the most environmentally friendly and fuel efficient aircraft is key to their long term prosperity and future . Lease financing is increasingly critical to airline fleet restructuring , and ALC's focus on new aircraft places us at the leading - edge of industry demand . We believe the recovery in the US and China are harbingers of what will occur globally as travel restrictions are relaxed and vaccines are more widely distributed , " said Steven F. Udvar - Házy , Executive Chairman of the Board . First Quarter 2021 Results The following table summarizes our operating results for the three months ended March 31 , 2021 and 2020 ( in millions , except per share amounts and percentages ) : Financial Highlights Revenues Income before taxes Net income available to common stockholders Adjusted net income before income taxes ( 1 ) Diluted earnings per share Adjusted diluted earnings per share before income taxes ( 1 ) Cash flows from operations Financial Ratios Pre - tax profit margin Adjusted pre - tax profit margin ( 1 ) Pre - tax return on common equity ( trailing twelve months ) Adjusted pre - tax return on common equity ( ¹ ) ( trailing twelve months ) Three Months Ended March 31 , 2021 2020 $ change % change $ 474.8 103.5 $ 511.4 $ ( 36.6 ) ( 7.1 ) % 171.7 ( 68.2 ) ( 39.7 ) % 80.2 133.3 ( 53.1 ) ( 39.8 ) % 117.1 182.8 ( 65.7 ) ( 35.9 ) % 0.70 $ 1.17 $ ( 0.47 ) ( 40.2 ) % 1.03 $ 1.61 $ ( 0.58 ) ( 36.0 ) % 234.3 $ 234.0 $ 0.3 0.1 % Three Months Ended March 31 , 2021 2020 21.8 % 33.6 % 24.7 % 35.7 % 9.9 % 13.8 % 11.0 % 14.9 % ( 1 ) Adjusted net income before income taxes , adjusted diluted earnings per share before income taxes , adjusted pre - tax profit margin and adjusted pre - tax return on common equity have been adjusted to exclude the effects of certain non - cash items , one - time or non - recurring items , that are not expected to continue in the future and certain other items . See note 1 under the Consolidated Statements of Income included in this earnings release for a discussion of the non - GAAP measures and a reconciliation to their most comparable GAAP financial measures .