Exhibit A
AIRPLANES GROUP
Report to Certificateholders
All numbers in US$ unless otherwise stated
| Payment Date: 15 October 2003. | |||||
| Calculation Date: 8 October 2003. | |||||
| (i) | ACCOUNT ACTIVITY SUMMARY (Between Calculation Dates) | ||||
| Prior Balance | Deposits | Withdrawals | Balance on Calculation Date | ||
| 9–Sep–03 | 8–Oct–03 | ||||
| Lessee Funded Account | 0.00 | 0.00 | (0.00) | 0.00 | |
| Expense Account (note ii) | 415,931.42 | 13,588,206.24 | (7,525,123.07) | 6,479,014.59 | |
| Collection Account (note iii) | 131,965,784.75 | 22,645,882.04 | (41,704,704.98) | 112,906,961.81 | |
| – Miscellaneous Reserve | – | – | |||
| – Maintenance Reserve | 80,000,000.00 | 80,000,000.00 | |||
| – Security Deposit | 28,889,981.58 | 10,261,079.77 | |||
| – Other Collections (net of interim withdrawals) | 23,075,803.17 | 22,645,882.04 | |||
| Total | 132,381,716.17 | 36,234,088.28 | (49,229,828.05) | 119,385,976.40 | |
| (ii) | ANALYSIS OF EXPENSE ACCOUNT ACTIVITY | ||||
| Balance on preceding Calculation Date (September 9, 2003) | 415,931.42 | ||||
| Transfer from Collection Account (previous Payment Date) | 13,584,068.58 | ||||
| Transfer from Collection Account (interim deposit) | 0.00 | ||||
| Interest Earned during period | 4,137.66 | ||||
| Payments during period between prior Calculation Date and the relevant Calculation Date: | |||||
| – Payments on previous Payment Date | (2,725,067.75) | ||||
| – Other payments | (4,800,055.32) | ||||
| Balance on relevant Calculation Date (October 8, 2003) | 6,479,014.59 | ||||
| (iii) | ANALYSIS OF COLLECTION ACCOUNT ACTIVITY | ||||
| Balance on preceding Calculation Date (September 9, 2003) | 131,965,784.75 | ||||
| Collections during period | 22,629,607.04 | ||||
| Swap receipts (previous Payment Date) | 16,275.00 | ||||
| Transfer to Expense Account (previous Payment Date) | (13,584,068.58) | ||||
| Transfer to Expense Account (interim withdrawal) | 0.00 | ||||
| Net transfer to Lessee Funded Accounts | 0.00 | ||||
| Aggregate Certificate Payments (previous Payment Date) | (23,691,474.83) | ||||
| Swap payments (previous Payment Date) | (4,429,161.57) | ||||
| Balance on relevant Calculation Date (October 8, 2003) | 112,906,961.81 | ||||
Page 1 of 4
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 | 14,000,000.00 | Note 1: | ||||
| (ii) | a) Class A Interest | 2,125,257.86 | The amount of cash retained at point (x), | ||||
| b) Swap Payments | 4,276,035.40 | the "Second Collection Account Top–up, | |||||
| (iii) | First Collection Account Top–up | 60,000,000.00 | in the Priority of Payments, is $31,379,330 short of | ||||
| (iv) | Minimum Hedge Payment | 0.00 | the full amount required to be retained at this point | ||||
| (v) | Class A Minimum Principal | 14,259,155.66 | if sufficient cashflows were available after payment | ||||
| (vi) | Class B Interest | 359,161.12 | of all scheduled amounts ranking prior to the | ||||
| (vii) | Class B Minimum Principal | 1,946,415.56 | Second Collection Account Top–up in the Priority | ||||
| (viii) | Class C Interest | 2,375,979.69 | of Payments. The Second Collection Account | ||||
| (ix) | Class D Interest | 3,580,412.50 | Top–up consists of a maintenance reserve | ||||
| (x) | Second Collection Account Top–up (Note 1) | 16,463,558.61 | amount of $20 million and the security deposit | ||||
| (xi) | Class A Principal Adjustment Amount | 0.00 | reserve amount. | ||||
| (xii) | Class C Scheduled Principal | 0.00 | |||||
| (xiii) | Class D Scheduled Principal | 0.00 | |||||
| (xiv) | Modification Payments | 0.00 | |||||
| (xv) | Soft Bullet Note Step–up Interest | 0.00 | |||||
| (xvi) | Class E Minimum Interest | 0.00 | |||||
| (xvii) | Supplemental Hedge Payment | 0.00 | |||||
| (xviii) | Class B Supplemental Principal | 0.00 | |||||
| (xix) | Class A Supplemental Principal | 0.00 | |||||
| (xx) | Class D Outstanding Principal | 0.00 | |||||
| (xxi) | Class C Outstanding Principal | 0.00 | |||||
| (xxii) | Class E Supplemental Interest | 0.00 | |||||
| (xxiii) | Class B Outstanding Principal | 0.00 | |||||
| (xxiv) | Class A Outstanding Principal | 0.00 | |||||
| (xxv) | Class E Accrued Unpaid Interest | 0.00 | |||||
| (xxvi) | Class E Outstanding Principal | 0.00 | |||||
| (xxvii) | Charitable Trust | 0.00 | |||||
| Total Payments with respect to Payment Date | 119,385,976.40 | ||||||
| Less Collection Account Top–Ups ((iii) and (x)above) | (76,463,558.61) | ||||||
| 42,922,417.79 | |||||||
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AIRPLANES GROUP
Report to Certificateholders
All numbers in US$ unless otherwise stated
| (iv) | PAYMENT ON THE CERTIFICATES | |||||||
| (a) | FLOATING RATE CERTIFICATES | A–6 | A–8 | A–9 | Class B | Note 2: | ||
| Applicable LIBOR | 1.12000% | 1.12000% | 1.12000% | 1.12000% | Step–up interest on Airplanes Group's subclass | |||
| Applicable Margin | 0.34000% | 0.37500% | 0.55000% | 0.75000% | A–8 notes is payable at point (xv) in the Priority of | |||
| Applicable Interest Rate | 1.46000% | 1.49500% | 1.67000% | 1.87000% | Payments. To the extent that step–up interest is | |||
| Interest Amount Payable | 209,424.53 | 872,083.33 | 1,043,750.00 | 359,161.12 | not paid, it will accrue in accordance with the | |||
| Step Up Interest Amount Payable (Note 2) | 0.00 | 294,621.02 | 0.00 | 0.00 | terms of the subclass A–8 notes. Available | |||
| cashflows were not sufficient to allow payment of | ||||||||
| Opening Principal Balance | 172,129,754.06 | 700,000,000.00 | 750,000,000.00 | 230,477,724.58 | step–up interest on any payment day to date. | |||
| Minimum Principal Payment Amount | 14,259,155.66 | 0.00 | 0.00 | 1,946,415.56 | Total step–up interest accrued and | |||
| Adjusted Principal Payment Amount | 0.00 | 0.00 | 0.00 | 0.00 | unpaid on Airplanes Group's subclass A–8 notes | |||
| Supplemental Principal Payment Amount | 0.00 | 0.00 | 0.00 | 0.00 | at October 15, 2003 was $2,061,111.11. Interest on | |||
| Total Principal Distribution Amount | 14,259,155.66 | 0.00 | 0.00 | 1,946,415.56 | unpaid step–up interest (also payable at point (xv) | |||
| Redemption Amount | in the Priority of Payments) accrued and unpaid | |||||||
| – amount allocable to principal | 0.00 | 0.00 | 0.00 | 0.00 | at October 15, 2003 was $10,564.48. | |||
| – premium allocable to premium | 0.00 | 0.00 | 0.00 | 0.00 | ||||
| Outstanding Principal Balance (October 15, 2003) | 157,870,598.40 | 700,000,000.00 | 750,000,000.00 | 228,531,309.02 | ||||
| (b) | FIXED RATE CERTIFICATES | Class C | Class D | |||||
| Applicable Interest Rate | 8.1500% | 10.8750% | ||||||
| Interest Amount Payable | 2,375,979.69 | 3,580,412.50 | ||||||
| Opening Principal Balance | 349,837,500.00 | 395,080,000.00 | ||||||
| Scheduled Principal Payment Amount | 0.00 | 0.00 | ||||||
| Redemption Amount | 0.00 | 0.00 | ||||||
| – amount allocable to principal | 0.00 | 0.00 | ||||||
| – amount allocable to premium | 0.00 | 0.00 | ||||||
| Actual Pool Factor | 0.9329000 | 0.9877000 | ||||||
| Outstanding Principal Balance (October 15, 2003) | 349,837,500.00 | 395,080,000.00 | ||||||
| Table of rescheduled Pool Factors | n/a | n/a | ||||||
| in the event of a partial redemption | ||||||||
| (v) | FLOATING RATE CERTIFICATE INFORMATION FOR NEXT INTEREST ACCRUAL PERIOD (Aggregate Amounts) | |||||||
| A–6 | A–8 | A–9 | Class B | |||||
| Applicable LIBOR | 1.12000% | 1.12000% | 1.12000% | 1.12000% | ||||
| Applicable Margin | 0.34000% | 0.37500% | 0.55000% | 0.75000% | ||||
| Applicable Interest Rate | 1.46000% | 1.49500% | 1.67000% | 1.87000% | ||||
Page 3 of 4
AIRPLANES GROUP
Report to Certificateholders
All numbers in US$ unless otherwise stated
| (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 | 1,721.30 | 7,000.00 | 7,500.00 | 2,304.78 | ||
| Total Principal Payments | (142.59) | 0.00 | 0.00 | (19.46) | ||
| Closing Outstanding Principal Balance | 1,578.71 | 7,000.00 | 7,500.00 | 2,285.31 | ||
| Total Interest | 2.09 | 8.72 | 10.44 | 3.59 | ||
| 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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