Exhibit A
AIRPLANES Group
Report to Certificateholders
All numbers in US$ unless otherwise stated
Payment Date: 17 November 2003.
Calculation Date: 10 November 2003.
| (i) | ACCOUNT ACTIVITY SUMMARY (Between Calculation Dates) | |||||
| Prior Balance | Deposits | Withdrawals | Balance on Calculation Date | |||
| 8-Oct-03 | 10-Nov-03 | |||||
| Lessee Funded Account | 0.00 | 0.00 | (0.00) | 0.00 | ||
| Expense Account (note ii) | 6,479,014.59 | 7,526,793.35 | (6,522,537.68) | 7,483,270.26 | ||
| Collection Account (note iii) | 112,906,961.81 | 24,505,013.00 | (36,443,403.20) | 100,968,571.61 | ||
| - Miscellaneous Reserve | - | - | ||||
| - Maintenance Reserve | 80,000,000.00 | 76,463,558.61 | ||||
| - Security Deposit | 10,261,079.77 | - | ||||
| - Other Collections (net of interim withdrawals) | 22,645,882.04 | 24,505,013.00 | ||||
| Total | 119,385,976.40 | 32,031,806.35 | (42,965,940.88) | 108,451,841.87 | ||
| (ii) | ANALYSIS OF EXPENSE ACCOUNT ACTIVITY | |||||
| Balance on preceding Calculation Date (October 8, 2003) | 6,479,014.59 | |||||
| Transfer from Collection Account (previous Payment Date) | 7,520,985.41 | |||||
| Transfer from Collection Account (interim deposit) | 0.00 | |||||
| Interest Earned during period | 5,807.94 | |||||
| Payments during period between prior Calculation Date and the relevant Calculation Date: | ||||||
| - Payments on previous Payment Date | (2,725,067.75) | |||||
| - Other payments | (3,797,469.93) | |||||
| Balance on relevant Calculation Date (November 10, 2003) | 7,483,270.26 | |||||
| (iii) | ANALYSIS OF COLLECTION ACCOUNT ACTIVITY | |||||
| Balance on preceding Calculation Date (October 8, 2003) | 112,906,961.81 | |||||
| Collections during period | 24,488,138.00 | |||||
| Swap receipts (previous Payment Date) | 16,875.00 | |||||
| Transfer to Expense Account (previous Payment Date) | (7,520,985.41) | |||||
| Transfer to Expense Account (interim withdrawal) | 0.00 | |||||
| Net transfer to Lessee Funded Accounts | 0.00 | |||||
| Aggregate Certificate Payments (previous Payment Date) | (24,646,382.39) | |||||
| Swap payments (previous Payment Date) | (4,276,035.40) | |||||
| Balance on relevant Calculation Date (November 10, 2003) | 100,968,571.61 | |||||
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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 | 2,318,700.15 | The amount of cash retained at point (x), | |||
| b) Swap Payments | 4,433,026.62 | the "Second Collection Account Top-up, | ||||
| (iii) | First Collection Account Top-up | 60,000,000.00 | in the Priority of Payments, is $42,846,958 short of | |||
| (iv) | Minimum Hedge Payment | 0.00 | the full amount required to be retained at this point | |||
| (v) | Class A Minimum Principal | 14,458,800.30 | if sufficient cashflows were available after payment | |||
| (vi) | Class B Interest | 391,740.75 | of all scheduled amounts ranking prior to the | |||
| (vii) | Class B Minimum Principal | 1,686,411.67 | 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) | 5,206,770.19 | amount of $20 million and the security deposit | |||
| (xi) | Class A Principal Adjustment Amount | 0.00 | reserve amount. | |||
| (xii) | Class C Scheduled Principal | 0.00 | ||||
| (xiii) | Class D Scheduled Principal | 0.00 | ||||
| (xiv) | Modification Payments | 0.00 | ||||
| (xv) | Soft Bullet Note Step-up Interest | 0.00 | ||||
| (xvi) | Class E Minimum Interest | 0.00 | ||||
| (xvii) | Supplemental Hedge Payment | 0.00 | ||||
| (xviii) | Class B Supplemental Principal | 0.00 | ||||
| (xix) | Class A Supplemental Principal | 0.00 | ||||
| (xx) | Class D Outstanding Principal | 0.00 | ||||
| (xxi) | Class C Outstanding Principal | 0.00 | ||||
| (xxii) | Class E Supplemental Interest | 0.00 | ||||
| (xxiii) | Class B Outstanding Principal | 0.00 | ||||
| (xxiv) | Class A Outstanding Principal | 0.00 | ||||
| (xxv) | Class E Accrued Unpaid Interest | 0.00 | ||||
| (xxvi) | Class E Outstanding Principal | 0.00 | ||||
| (xxvii) | Charitable Trust | 0.00 | ||||
| Total Payments with respect to Payment Date | 108,451,841.87 | |||||
| Less Collection Account Top-Ups ((iii) and (x) above) | (65,206,770.19) | |||||
| 43,245,071.68 | ||||||
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AIRPLANES Group
Report to Certificateholders
All numbers in US$ 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 | 211,283.48 | 959,291.67 | 1,148,125.00 | 391,740.75 | not paid, it will accrue in accordance with the | |||
| Step Up Interest Amount Payable (Note 2) | 0.00 | 324,621.91 | 0.00 | 0.00 | terms of the subclass A-8 notes. Available | |||
| cashflows were not sufficient to allow payment of | ||||||||
| Opening Principal Balance | 157,870,598.40 | 700,000,000.00 | 750,000,000.00 | 228,531,309.02 | step-up interest on any payment day to date. | |||
| Minimum Principal Payment Amount | 14,458,800.30 | 0.00 | 0.00 | 1,686,411.67 | 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 November 17, 2003 was $2,381,944.44. Interest | |||
| Total Principal Distribution Amount | 14,458,800.30 | 0.00 | 0.00 | 1,686,411.67 | on unpaid step-up interest (also payable at point | |||
| Redemption Amount | (xv) in the Priority of Payments) accrued and | |||||||
| - amount allocable to principal | 0.00 | 0.00 | 0.00 | 0.00 | unpaid at November 17, 2003 was $14,353.06. | |||
| - premium allocable to premium | 0.00 | 0.00 | 0.00 | 0.00 | ||||
| Outstanding Principal Balance (November 17, 2003) | 143,411,798.10 | 700,000,000.00 | 750,000,000.00 | 226,844,897.35 | ||||
| (b) | FIXED RATE CERTIFICATES | Class C | Class D | |||||
| Applicable Interest Rate | 8.1500% | 10.8750% | ||||||
| Interest Amount Payable | 2,375,979.69 | 3,580,412.50 | ||||||
| Opening Principal Balance | 349,837,500.00 | 395,080,000.00 | ||||||
| Scheduled Principal Payment Amount | 0.00 | 0.00 | ||||||
| Redemption Amount | 0.00 | 0.00 | ||||||
| - amount allocable to principal | 0.00 | 0.00 | ||||||
| - amount allocable to premium | 0.00 | 0.00 | ||||||
| Actual Pool Factor | 0.9329000 | 0.9877000 | ||||||
| Outstanding Principal Balance (November 17, 2003) | 349,837,500.00 | 395,080,000.00 | ||||||
| Table of rescheduled Pool Factors | n/a | n/a | ||||||
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AIRPLANES Group
Report to Certificateholders
All numbers in US$ 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 | 1,578.71 | 7,000.00 | 7,500.00 | 2,285.31 | |
| Total Principal Payments | (144.59) | 0.00 | 0.00 | (16.86) | |
| Closing Outstanding Principal Balance | 1,434.12 | 7,000.00 | 7,500.00 | 2,268.45 | |
| Total Interest | 2.11 | 9.59 | 11.48 | 3.92 | |
| 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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