Exhibit A
| Payment Date: 15 August 2003. | |||||
| Calculation Date: 11 August 2003. | |||||
| (i) | ACCOUNT ACTIVITY SUMMARY (Between Calculation Dates) | ||||
| Prior Balance | Deposits | Withdrawals | Balance on Calculation Date | ||
| 9-Jul-03 | 11-Aug-03 | ||||
| Lessee Funded Account | 0.00 | 0.00 | (0.00) | 0.00 | |
| Expense Account (note ii) | 752,574.84 | 10,249,983.75 | (8,228,031.97) | 2,774,526.62 | |
| Collection Account (note iii) | 134,883,810.37 | 27,661,465.85 | (24,974,505.88) | 137,570,770.34 | |
| - Miscellaneous Reserve | - | - | |||
| - Maintenance Reserve | 80,000,000.00 | 80,000,000.00 | |||
| - Security Deposit | 26,696,356.09 | 29,909,304.49 | |||
| - Other Collections (net of interim withdrawals) | 28,187,454.28 | 27,661,465.85 | |||
| Total | 135,636,385.21 | 37,911,449.60 | (33,202,537.85) | 140,345,296.96 | |
| (ii) | ANALYSIS OF EXPENSE ACCOUNT ACTIVITY | ||||
| Balance on preceding Calculation Date (July 9, 2003) | 752,574.84 | ||||
| Transfer from Collection Account (previous Payment Date) | 10,247,425.16 | ||||
| Transfer from Collection Account (interim deposit) | 0.00 | ||||
| Interest Earned during period | 2,558.59 | ||||
| Payments during period between prior Calculation Date and the relevant Calculation Date: | |||||
| - Payments on previous Payment Date | (2,727,006.37) | ||||
| - Other payments | (5,501,025.60) | ||||
| Balance on relevant Calculation Date (August 11, 2003) | 2,774,526.62 | ||||
| (iii) | ANALYSIS OF COLLECTION ACCOUNT ACTIVITY | ||||
| Balance on preceding Calculation Date (July 9, 2003) | 134,883,810.37 | ||||
| Collections during period | 27,661,465.85 | ||||
| Swap receipts (previous Payment Date) | 0.00 | ||||
| Transfer to Expense Account (previous Payment Date) | (10,247,425.16) | ||||
| Transfer to Expense Account (interim withdrawal) | 0.00 | ||||
| Net transfer to Lessee Funded Accounts | 0.00 | ||||
| Aggregate Certificate Payments (previous Payment Date) | (10,477,829.54) | ||||
| Swap payments (previous Payment Date) | (4,249,251.18) | ||||
| Balance on relevant Calculation Date (August 11, 2003) | 137,570,770.34 | ||||
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| (iii) | ANALYSIS OF COLLECTION ACCOUNT ACTIVITY (Cont'd) | |||||
| ANALYSIS OF CURRENT PAYMENT DATE DISTRIBUTIONS | ||||||
| Priority of Payments | ||||||
| (i) | Required Expense Amount | 12,000,000.00 | Note 1: | |||
| (ii) | a) Class A Interest | 2,200,624.37 | Airplanes Group ceases to be ahead of the | |||
| b) Swap Payments | 4,563,364.95 | class A minimum principal payment schedule | ||||
| (iii) | First Collection Account Top-up | 60,000,000.00 | on the August 15, 2003 payment date and | |||
| (iv) | Minimum Hedge Payment | 0.00 | accordingly a payment of class A minimum principal | |||
| (v) | Class A Minimum Principal (Note 1) | 4,771,156.88 | of $4,771,156.88 is made at point (v) in the Priority | |||
| (vi) | Class B Interest | 373,622.01 | of Payments on that date. | |||
| (vii) | Class B Minimum Principal | 1,590,154.98 | The amount of cash retained at point (x), | |||
| (viii) | Class C Interest | 2,375,979.69 | the "Second Collection Account Top-up", | |||
| (ix) | Class D Interest | 3,580,412.50 | in the Priority of Payments, is $1,920,488 short of | |||
| (x) | Second Collection Account Top-up (Note 1) | 48,889,981.58 | 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 | |||
| (xvi) | Class E Minimum Interest | 0.00 | amount of $20 million and the security deposit | |||
| (xvii) | Supplemental Hedge Payment | 0.00 | reserve 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 | 140,345,296.96 | |||||
| Less Collection Account Top-Ups ((iii) and (x)above) | (108,889,981.58) | |||||
| 31,455,315.38 | ||||||
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| (iv) | PAYMENT ON THE CERTIFICATES | |||||||
| (a) | FLOATING RATE CERTIFICATES | A-6 | A-8 | A-9 | Class B | |||
| Applicable LIBOR | 1.10688% | 1.10688% | 1.10688% | 1.10688% | ||||
| Applicable Margin | 0.34000% | 0.37500% | 0.55000% | 0.75000% | ||||
| Applicable Interest Rate | 1.44688% | 1.48188% | 1.65688% | 1.85688% | ||||
| Interest Amount Payable | 237,311.71 | 893,244.33 | 1,070,068.33 | 373,622.01 | ||||
| Step Up Interest Amount Payable (Note 2) | 0.00 | 303,385.23 | 0.00 | 0.00 | . | |||
| Opening Principal Balance | 190,470,382.37 | 700,000,000.00 | 750,000,000.00 | 233,662,713.44 | ||||
| Minimum Principal Payment Amount | 4,771,156.88 | 0.00 | 0.00 | 1,590,154.98 | ||||
| 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 | 4,771,156.88 | 0.00 | 0.00 | 1,590,154.98 | ||||
| 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 (August 15, 2003) | 185,699,225.49 | 700,000,000.00 | 750,000,000.00 | 232,072,558.46 | ||||
| (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 (August 15, 2003) | 349,837,500.00 | 395,080,000.00 | ||||||
| Table of rescheduled Pool Factors | n/a | n/a | ||||||
| in the event of a partial redemption | ||||||||
| Note 2: | ||||||||
| 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 have not been sufficient to allow payment of step-up interest on any payment date to date. Total step-up interest accrued and unpaid on Airplanes Group's subclass A-8 notes at August 15, 2003 was $1,468,055.56. Interest on unpaid step-up interest (also payable at point (xv) in the Priority of Payments) accrued and unpaid at August 15, 2003 was $5,092.07. | ||||||||
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AIRPLANES Group
Report to Certificateholders
All numbers in US$ 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 | 1.11000% | 1.11000% | 1.11000% | 1.11000% | ||||||
| Applicable Margin | 0.34000% | 0.37500% | 0.55000% | 0.75000% | ||||||
| Applicable Interest Rate | 1.45000% | 1.48500% | 1.66000% | 1.86000% | ||||||
| (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 | 2,336.63 | ||||||
| Total Principal Payments | (47.71) | 0.00 | 0.00 | (15.90) | ||||||
| Closing Outstanding Principal Balance | 1,856.99 | 7,000.00 | 7,500.00 | 2,320.73 | ||||||
| Total Interest | 2.37 | 8.93 | 10.70 | 3.74 | ||||||
| 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 | ||||||||
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