Exhibit A
| Payment Date: 15 September 2003. | |||||
| Calculation Date: 9 September 2003. | |||||
| (i) | ACCOUNT ACTIVITY SUMMARY (Between Calculation Dates) | ||||
| Prior Balance | Deposits | Withdrawals | Balance on Calculation Date | ||
| 11-Aug-03 | 9-Sep-03 | ||||
| Lessee Funded Account | 0.00 | 0.00 | (0.00) | 0.00 | |
| Expense Account (note ii) | 2,774,526.62 | 9,228,562.91 | (11,587,158.11) | 415,931.42 | |
| Collection Account (note iii) | 137,570,770.34 | 23,075,803.17 | (28,680,788.76) | 131,965,784.75 | |
| - Miscellaneous Reserve | - | - | |||
| - Maintenance Reserve | 80,000,000.00 | 80,000,000.00 | |||
| - Security Deposit | 29,909,304.49 | 28,889,981.58 | |||
| - Other Collections (net of interim withdrawals) | 27,661,465.85 | 23,075,803.17 | |||
| Total | 140,345,296.96 | 32,304,366.08 | (40,267,946.87) | 132,381,716.17 | |
| (ii) | ANALYSIS OF EXPENSE ACCOUNT ACTIVITY | ||||
| Balance on preceding Calculation Date (August 11, 2003) | 2,774,526.62 | ||||
| Transfer from Collection Account (previous Payment Date) | 9,225,473.38 | ||||
| Transfer from Collection Account (interim deposit) | 0.00 | ||||
| Interest Earned during period | 3,089.53 | ||||
| Payments during period between prior Calculation Date and the relevant Calculation Date: | |||||
| - Payments on previous Payment Date | (3,090,589.58) | ||||
| - Other payments | (8,496,568.53) | ||||
| Balance on relevant Calculation Date (September 9, 2003) | 415,931.42 | ||||
| (iii) | ANALYSIS OF COLLECTION ACCOUNT ACTIVITY | ||||
| Balance on preceding Calculation Date (August 11, 2003) | 137,570,770.34 | ||||
| Collections during period | 23,059,890.87 | ||||
| Swap receipts (previous Payment Date) | 15,912.30 | ||||
| Transfer to Expense Account (previous Payment Date) | (9,225,473.38) | ||||
| Transfer to Expense Account (interim withdrawal) | 0.00 | ||||
| Net transfer to Lessee Funded Accounts | 0.00 | ||||
| Aggregate Certificate Payments (previous Payment Date) | (14,891,950.43) | ||||
| Swap payments (previous Payment Date) | (4,563,364.95) | ||||
| Balance on relevant Calculation Date (September 9, 2003) | 131,965,784.75 | ||||
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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 | 14,000,000.00 | Note 1: | |||
| (ii) | a) Class A Interest | 2,199,074.45 | The amount of cash retained at point (x), | |||
| b) Swap Payments | 4,429,161.57 | the "Second Collection Account Top-up", | ||||
| (iii) | First Collection Account Top-up | 60,000,000.00 | in the Priority of Payments, is $19,962,357 short of | |||
| (iv) | Minimum Hedge Payment | 0.00 | the full amount required to be retained at this point | |||
| (v) | Class A Minimum Principal | 13,569,471.43 | if sufficient cashflows were available after payment | |||
| (vi) | Class B Interest | 371,702.88 | of all scheduled amounts ranking prior to the | |||
| (vii) | Class B Minimum Principal | 1,594,833.88 | 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) | 30,261,079.77 | 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 | 132,381,716.17 | |||||
| Less Collection Account Top-Ups ((iii) and (x)above) | (90,261,079.77) | |||||
| 42,120,636.40 | ||||||
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| (iv) | PAYMENT ON THE CERTIFICATES | |||||||
| (a) | FLOATING RATE CERTIFICATES | 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% | ||||
| Interest Amount Payable | 231,866.12 | 895,125.00 | 1,072,083.33 | 371,702.88 | ||||
| Step Up Interest Amount Payable (Note 2) | 0.00 | 303,906.95 | 0.00 | 0.00 | ||||
| Opening Principal Balance | 185,699,225.49 | 700,000,000.00 | 750,000,000.00 | 232,072,558.46 | ||||
| Minimum Principal Payment Amount | 13,569,471.43 | 0.00 | 0.00 | 1,594,833.88 | ||||
| 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 | 13,569,471.43 | 0.00 | 0.00 | 1,594,833.88 | ||||
| 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 (Sept. 15, 2003) | 172,129,754.06 | 700,000,000.00 | 750,000,000.00 | 230,477,724.58 | ||||
| (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 (Sept. 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 September 15, 2003 was $1,769,444.44. Interest on unpaid step-up interest (also payable at point (xv) in the Priority of Payments) accrued and unpaid at September 15, 2003 was $7,610.13. | ||||||||
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AIRPLANES Group
Report to Certificateholders
All numbers in US$ 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 | 1.12000% | 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% | ||||||
| (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 | 1,856.99 | 7,000.00 | 7,500.00 | 2,320.73 | ||||||
| Total Principal Payments | (135.69) | 0.00 | 0.00 | (15.95) | ||||||
| Closing Outstanding Principal Balance | 1,721.30 | 7,000.00 | 7,500.00 | 2,304.78 | ||||||
| Total Interest | 2.32 | 8.95 | 10.72 | 3.72 | ||||||
| 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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