Commercial Aircraft Corporation of China, US plane maker to build a 737 aircraft assembly centre in China.
Will purchase more wind power credits and continue to use hydropower.
Financial deals not disclosed, but analysts estimate airline received 50% discount off list price of $15.6 billion.
Contract includes general wage increases up to 3% by 2017.
Contracts include three simulators and a training supplier deal.
Air Lease will have the option to purchase another 25 planes.
Deal includes 230 planes and options on 150 more, bringing the potential value of the contract to $35 billion