Exhibit A
AIRPLANES Group
Report to Certificateholders
All numbers in US$ unless otherwise stated
| Payment Date: 16 June 2003. | ||||||
| Calculation Date: 10 June 2003. | ||||||
| (i) | ACCOUNT ACTIVITY SUMMARY (Between Calculation Dates) | |||||
| Prior Balance | Deposits | Withdrawals | Balance on Calculation Date | |||
| 9-May-03 | 10-Jun-03 | |||||
| Lessee Funded Account | 0.00 | 0.00 | (0.00) | 0.00 | ||
| Expense Account (note ii) | 1,544,885.15 | 8,456,999.98 | (9,901,726.64) | 100,158.49 | ||
| Collection Account (note iii) | 131,558,851.17 | 23,363,360.45 | (23,158,046.93) | 131,764,164.69 | ||
| - Miscellaneous Reserve | - | - | ||||
| - Maintenance Reserve | 80,000,000.00 | 80,000,000.00 | ||||
| - Security Deposit | 30,142,797.00 | 28,400,804.24 | ||||
| - Other Collections (net of interim withdrawals) | 21,416,054.17 | 23,363,360.45 | ||||
| Total | 133,103,736.32 | 31,820,360.43 | (33,059,773.57) | 131,864,323.18 | ||
| (ii) | ANALYSIS OF EXPENSE ACCOUNT ACTIVITY | |||||
| Balance on preceding Calculation Date (May 9, 2003) | 1,544,885.15 | |||||
| Transfer from Collection Account (previous Payment Date) | 8,455,114.85 | |||||
| Transfer from Collection Account (interim deposit) | 0.00 | |||||
| Interest Earned during period | 1,885.13 | |||||
| Payments during period between prior Calculation Date and the relevant Calculation Date: | ||||||
| - Payments on previous Payment Date | (2,768,114.74) | |||||
| - Other payments | (7,133,611.90) | |||||
| Balance on relevant Calculation Date (June 10, 2003) | 100,158.49 | |||||
| (iii) | ANALYSIS OF COLLECTION ACCOUNT ACTIVITY | |||||
| Balance on preceding Calculation Date (May 9, 2003) | 131,558,851.17 | |||||
| Collections during period | 23,363,360.45 | |||||
| Swap receipts (previous Payment Date) | 0.00 | |||||
| Transfer to Expense Account (previous Payment Date) | (8,455,114.85) | |||||
| Transfer to Expense Account (interim withdrawal) | 0.00 | |||||
| Net transfer to Lessee Funded Accounts | 0.00 | |||||
| Aggregate Certificate Payments (previous Payment Date) | (10,311,940.46) | |||||
| Swap payments (previous Payment Date) | (4,390,991.62) | |||||
| Balance on relevant Calculation Date (June 10, 2003) | 131,764,164.69 | |||||
Page 1
AIRPLANES Group
Report to Certificateholders
All numbers in US$ unless otherwise stated
(iii) ANALYSIS OF COLLECTION ACCOUNT ACTIVITY (Cont'd)
| ANALYSIS OF CURRENT PAYMENT DATE DISTRIBUTIONS | |||||
| Priority of Payments | |||||
| (i) | Required Expense Amount | 10,000,000.00 | Note 1: | ||
| (ii) | a) Class A Interest | 2,567,801.00 | Cashflows in the current Calculation Period were | ||
| b) Swap Payments | 4,583,606.68 | sufficent to allow payment of scheduled amounts | |||
| (iii) | First Collection Account Top-up | 60,000,000.00 | up to point (x) in the Priority of Payments on the | ||
| (iv) | Minimum Hedge Payment | 0.00 | June 16, 2003 Payment Date. Class A Principal | ||
| (v) | Class A Minimum Principal | 0.00 | Adjustment Amount, which is payable at point (xi) | ||
| (vi) | Class B Interest | 434,500.97 | in the Priority of Payments, will not be paid on | ||
| (vii) | Class B Minimum Principal | 1,625,666.25 | June 16, 2003. Also, the amount retained at | ||
| (viii) | Class C Interest | 2,375,979.69 | oint (x), the "Second Collection Account Top-up, | ||
| (ix) | Class D Interest | 3,580,412.50 | in the Priority of Payments, is $3,939,054 short of | ||
| (x) | Second Collection Account Top-up (Note 1) | 46,696,356.09 | the full amount required to be retained at this point | ||
| (xi) | Class A Principal Adjustment Amount (Note 1) | 0.00 | if sufficient cashflows were available after payment | ||
| (xii) | Class C Scheduled Principal | 0.00 | of all scheduled amounts ranking prior to the | ||
| (xiii) | Class D Scheduled Principal | 0.00 | Second Collection Account Top-up in the Priority | ||
| (xiv) | Modification Payments | 0.00 | of Payments. The Second Collection Account | ||
| (xv) | Soft Bullet Note Step-up Interest | 0.00 | Top-up consists of a maintenance reserve amount | ||
| (xvi) | Class E Minimum Interest | 0.00 | of $20 million and the security deposit reserve | ||
| (xvii) | Supplemental Hedge Payment | 0.00 | amount. | ||
| (xviii) | Class B Supplemental Principal | 0.00 | |||
| (xix) | Class A Supplemental Principal | 0.00 | |||
| (xx) | Class D Outstanding Principal | 0.00 | |||
| (xxi) | Class C Outstanding Principal | 0.00 | |||
| (xxii) | Class E Supplemental Interest | 0.00 | |||
| (xxiii) | Class B Outstanding Principal | 0.00 | |||
| (xxiv) | Class A Outstanding Principal | 0.00 | |||
| (xxv) | Class E Accrued Unpaid Interest | 0.00 | |||
| (xxvi) | Class E Outstanding Principal | 0.00 | |||
| (xxvii) | Charitable Trust | 0.00 | |||
| Total Payments with respect to Payment Date | 131,864,323.18 | ||||
| Less Collection Account Top-Ups ((iii) and (x)above) | (106,696,356.09) | ||||
| 25,167,967.09 | |||||
Page 2
AIRPLANES Group
Report to Certificateholders
All numbers in US$ unless otherwise stated
(iv) PAYMENT ON THE CERTIFICATES
| (a) | FLOATING RATE CERTIFICATES | A-6 | A-8 | A-9 | Class B | Note 2: | |
| Applicable LIBOR | 1.31000% | 1.31000% | 1.31000% | 1.31000% | Step-up interest on Airplanes Group's subclass A-8 notes is payable at point (xv) in the Priority of Payments. To the extent that step-up interest is not paid, it will accrue in accordance with the terms of the subclass A-8 notes. Available cashflows were not sufficient to allow payment of step-up interest on the April 15, 2003, May 15, 2003 and June 16, 2003 Payment Dates. Total step-up interest accrued and unpaid on Airplanes Group's subclass A-8 notes at June 16, 2003 was $884,722.22. Interest on unpaid step-up interest (also payable at point (xv) in the Priority of Payments) accrued and unpaid at June 16, 2003 was $1,628.45. | ||
| Applicable Margin | 0.34000% | 0.37500% | 0.55000% | 0.75000% | |||
| Applicable Interest Rate | 1.65000% | 1.68500% | 1.86000% | 2.06000% | |||
| Interest Amount Payable | 279,356.56 | 1,048,444.44 | 1,240,000.00 | 434,500.97 | |||
| Step Up Interest Amount Payable (Note 2) | 0.00 | 312,226.19 | 0.00 | 0.00 | |||
| Opening Principal Balance | 190,470,382.37 | 700,000,000.00 | 750,000,000.00 | 237,288,151.39 | |||
| Minimum Principal Payment Amount | 0.00 | 0.00 | 0.00 | 1,625,666.25 | |||
| Adjusted Principal Payment Amount | 0.00 | 0.00 | 0.00 | 0.00 | |||
| Supplemental Principal Payment Amount | 0.00 | 0.00 | 0.00 | 0.00 | |||
| Total Principal Distribution Amount | 0.00 | 0.00 | 0.00 | 1,625,666.25 | |||
| Redemption Amount | |||||||
| - amount allocable to principal | 0.00 | 0.00 | 0.00 | 0.00 | |||
| - premium allocable to premium | 0.00 | 0.00 | 0.00 | 0.00 | |||
| Outstanding Principal Balance (June 16, 2003) | 190,470,382.37 | 700,000,000.00 | 750,000,000.00 | 235,662,485.14 | |||
| (b) | FIXED RATE CERTIFICATES | Class C | Class D | ||||
| Applicable Interest Rate | 8.1500% | 10.8750% | |||||
| Interest Amount Payable | 2,375,979.69 | 3,580,412.50 | |||||
| Opening Principal Balance | 349,837,500.00 | 395,080,000.00 | |||||
| Scheduled Principal Payment Amount | 0.00 | 0.00 | |||||
| Redemption Amount | 0.00 | 0.00 | |||||
| - amount allocable to principal | 0.00 | 0.00 | |||||
| - amount allocable to premium | 0.00 | 0.00 | |||||
| Actual Pool Factor | 0.9329000 | 0.9877000 | |||||
| Outstanding Principal Balance (June 16, 2003) | 349,837,500.00 | 395,080,000.00 | |||||
| Table of rescheduled Pool Factors in the event of a partial redemption | n/a | n/a | |||||
Page 3
AIRPLANES Group
Report to Certificateholders
All numbers in US$ unless otherwise stated
| (v) | FLOATING RATE CERTIFICATE INFORMATION FOR NEXT INTEREST ACCRUAL PERIOD (Aggregate Amounts) | |||||
| A-6 | A-8 | A-9 | Class B | |||
| Applicable LIBOR | 1.18000% | 1.18000% | 1.18000% | 1.18000% | ||
| Applicable Margin | 0.34000% | 0.37500% | 0.55000% | 0.75000% | ||
| Applicable Interest Rate | 1.52000% | 1.55500% | 1.73000% | 1.93000% | ||
| (vi) | CURRENT PERIOD PAYMENTS Per $100,000 Initial Outstanding Principal Balance of Certificates) | |||||
| (a) | FLOATING RATE CERTIFICATES | |||||
| A-6 | A-8 | A-9 | Class B | |||
| Opening Principal Amount | 1,904.70 | 7,000.00 | 7,500.00 | 2,372.88 | ||
| Total Principal Payments | 0.00 | 0.00 | 0.00 | (16.26) | ||
| Closing Outstanding Principal Balance | 1,904.70 | 7,000.00 | 7,500.00 | 2,356.62 | ||
| Total Interest | 2.79 | 10.48 | 12.40 | 4.35 | ||
| Total Premium | 0.00 | 0.00 | 0.00 | 0.00 | ||
| (b) | FIXED RATE CERTIFICATES | |||||
| Class C | Class D | |||||
| Opening Principal Amount | 3,498.38 | 3,950.80 | ||||
| Total Principal Payments | 0.00 | 0.00 | ||||
| Outstanding Principal Balance | 3,498.38 | 3,950.80 | ||||
| Total Interest | 23.76 | 35.80 | ||||
| Total Premium | 0.00 | 0.00 | ||||
Page 4
