AerSale Corporation announced that Andrew Levy, Founder, Chairman and CEO of Avelo Airlines was appointed to the Company's board of directors on April 15, 2023. He brings three decades of corporate and entrepreneurial experience in the aviation and telecommunications sectors to AerSale and has a proven track record of leading airlines to profitability from startup to scale. Prior to launching Avelo in April 2021, Mr. Levy was a Co-Founder and President at Allegiant Air and CFO at United Airlines.

He has been a board member of Copa Airlines, the flag carrier of Panama, since 2016. Over the course of Mr. Levy's career, he has also served as a Vice President at Savoy Capital, as well as Vice President of Network Development and Planning at Mpower Communications. Mr. Levy started his aviation career as the Director of Contracts at ValuJet Airlines.

He earned a BA from Washington University in St. Louis and a JD from Emory University. The appointment of Mr. Levy to the AerSale Board of Directors will temporarily increase the size of the Company's board to 11 members through the 2023 annual stockholders meeting.

Further, the Company announced that existing board members Eric J. Zahler and Sai S. Devabhaktuni, will not seek re-election following the leadership they provided in AerSale's early years as a public Company. Michael Kirton also announced he will not seek re-election as Leonard Green has reduced its ownership position. Following this reduction, Leonard Green will have only a single board seat.

Messrs Zahler, Devabhaktuni and Kirton will remain on the board until the 2023 annual stockholders meeting. The remaining Board members will stand for reelection at the forthcoming stockholder meeting after which the size of the Company's Board of Directors will be reduced to eight members.