Exhibit A
AIRPLANES Group
Report to Certificateholders
All numbers in US$ unless otherwise stated
Payment Date: 16 August 2004.
Calculation Date: 10 August 2004.
| (i) | ACCOUNT ACTIVITY SUMMARY (Between Calculation Dates) | ||||
| Prior Balance | Deposits | Withdrawals | Balance on Calculation Date | ||
| 9-Jul-04 | 10-Aug-04 | ||||
| Lessee Funded Account | 0.00 | 0.00 | (0.00) | 0.00 | |
| Expense Account (note ii) | 781,689.61 | 11,221,748.01 | (7,054,496.99) | 4,948,940.63 | |
| Collection Account (note iii) | 84,604,740.84 | 21,893,710.93 | (24,604,740.84) | 81,893,710.93 | |
| - Miscellaneous Reserve | - | - | |||
| - Maintenance Reserve | 60,000,000.00 | 60,000,000.00 | |||
| - Security Deposit | - | - | |||
| - Other Collections (net of interim withdrawals) | 24,604,740.84 | 21,893,710.93 | |||
| Total | 85,386,430.45 | 33,115,458.94 | (31,659,237.83) | 86,842,651.56 | |
| (ii) | ANALYSIS OF EXPENSE ACCOUNT ACTIVITY | ||||
| Balance on preceding Calculation Date (July 9, 2004) | 781,689.61 | ||||
| Transfer from Collection Account (previous Payment Date) | 11,218,310.39 | ||||
| Transfer from Collection Account (interim deposit) | 0.00 | ||||
| Interest Earned during period | 3,437.62 | ||||
| Payments during period between prior Calculation Date and the relevant Calculation Date: | |||||
| - Payments on previous Payment Date | (2,805,290.07) | ||||
| - Other payments | (4,249,206.92) | ||||
| Balance on relevant Calculation Date (August 10, 2004) | 4,948,940.63 | ||||
| (iii) | ANALYSIS OF COLLECTION ACCOUNT ACTIVITY | ||||
| Balance on preceding Calculation Date (July 9, 2004) | 84,604,740.84 | ||||
| Collections during period | 21,887,252.60 | ||||
| Swap receipts (previous Payment Date) | 6,458.33 | ||||
| Transfer to Expense Account (previous Payment Date) | (11,218,310.39) | ||||
| Transfer to Expense Account (interim withdrawal) | 0.00 | ||||
| Net transfer to Lessee Funded Accounts | 0.00 | ||||
| Aggregate Certificate Payments (previous Payment Date) | (10,512,384.64) | ||||
| Swap payments (previous Payment Date) | (2,874,045.81) | ||||
| Balance on relevant Calculation Date (August 10, 2004) | 81,893,710.93 | ||||
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 | 12,000,000.00 | Note 1: | |||
| (ii) | a) Class A Interest | 2,464,512.25 | The class A minimum principal amount arrears | |||
| b) Swap Payments (Note 2) | 3,989,550.01 | are $43,058,805.39 following the payment of | ||||
| (iii) | First Collection Account Top-up | 60,000,000.00 | $8,388,589.30 on August 16, 2004. | |||
| (iv) | Minimum Hedge Payment | 0.00 | ||||
| (v) | Class A Minimum Principal (Note 1) | 8,388,589.30 | ||||
| (vi) | Class B Interest | 0.00 | ||||
| (vii) | Class B Minimum Principal | 0.00 | Note 2: | |||
| (viii) | Class C Interest | 0.00 | Swap Payments include a payment of $968,750 | |||
| (ix) | Class D Interest | 0.00 | made on August 11, 2004 relating to the purchase | |||
| (x) | Second Collection Account Top-up | 0.00 | of an interest rate cap. For further information | |||
| (xi) | Class A Principal Adjustment Amount | 0.00 | please refer to Item 3 - Interest Rate Management | |||
| (xii) | Class C Scheduled Principal | 0.00 | in the Airplanes Group Report on Form 10-Q for | |||
| (xiii) | Class D Scheduled Principal | 0.00 | the quarter ended June 30, 2004. | |||
| (xiv) | Modification Payments | 0.00 | ||||
| (xv) | Soft Bullet Note Step-up Interest | 0.00 | ||||
| (xvi) | Class E Minimum Interest | 0.00 | ||||
| (xvii) | Supplemental Hedge Payment | 0.00 | ||||
| (xviii) | Class B Supplemental Principal | 0.00 | ||||
| (xix) | Class A Supplemental Principal | 0.00 | ||||
| (xx) | Class D Outstanding Principal | 0.00 | ||||
| (xxi) | Class C Outstanding Principal | 0.00 | ||||
| (xxii) | Class E Supplemental Interest | 0.00 | ||||
| (xxiii) | Class B Outstanding Principal | 0.00 | ||||
| (xxiv) | Class A Outstanding Principal | 0.00 | ||||
| (xxv) | Class E Accrued Unpaid Interest | 0.00 | ||||
| (xxvi) | Class E Outstanding Principal | 0.00 | ||||
| (xxvii) | Charitable Trust | 0.00 | ||||
| Total Payments with respect to Payment Date | 86,842,651.56 | |||||
| Less Collection Account Top-Ups ((iii) and (x)above) | (60,000,000.00) | |||||
| 26,842,651.56 | ||||||
AIRPLANES Group
Report to Certificateholders
All numbers in US$ unless otherwise stated
| (iv) | PAYMENT ON THE CERTIFICATES | |||||||
| (a) | FLOATING RATE CERTIFICATES | A-6 | A-8 | A-9 | Class B | Note 3: 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 any payment day to date. Total step-up interest accrued and unpaid on Airplanes Group's subclass A-8 notes at August 16, 2004 was $5,036,111.11. Interest on unpaid step-up interest (also payable at point (xv) in the Priority of Payments) accrued and unpaid at August 16, 2004 was $70,058.79. | ||
| Applicable LIBOR | 1.38000% | 1.38000% | 1.38000% | 1.38000% | ||||
| Applicable Margin | 0.34000% | 0.37500% | 0.55000% | 0.75000% | ||||
| Applicable Interest Rate | 1.72000% | 1.75500% | 1.93000% | 2.13000% | ||||
| Interest Amount Payable | ||||||||
| - Charge in current period on outstanding principal balance | 85,845.58 | 1,092,000.00 | 1,286,666.67 | 429,493.01 | ||||
| - Charge in current period on interest arrears | N/A | N/A | N/A | 5,422.80 | ||||
| - Accrued & unpaid interest from prior periods | N/A | N/A | N/A | 2,864,155.22 | ||||
| 85,845.58 | 1,092,000.00 | 1,286,666.67 | 3,299,071.03 | |||||
| Interest Amount Payment | 85,845.58 | 1,092,000.00 | 1,286,666.67 | 0.00 | ||||
| Step Up Interest Amount Payable (Note 3) | N/A | 320,703.31 | N/A | N/A | ||||
| Opening Principal Balance | 56,148,997.31 | 700,000,000.00 | 750,000,000.00 | 226,844,897.35 | ||||
| Minimum Principal Payment Amount | 8,388,589.30 | 0.00 | 0.00 | 0.00 | ||||
| Adjusted Principal Payment Amount | 0.00 | 0.00 | 0.00 | 0.00 | ||||
| Supplemental Principal Payment Amount | 0.00 | 0.00 | 0.00 | 0.00 | ||||
| Total Principal Distribution Amount | 8,388,589.30 | 0.00 | 0.00 | 0.00 | ||||
| Redemption Amount | ||||||||
| - amount allocable to principal | 0.00 | 0.00 | 0.00 | 0.00 | ||||
| - premium allocable to premium | 0.00 | 0.00 | 0.00 | 0.00 | ||||
| Outstanding Principal Balance (August 16, 2004) | 47,760,408.01 | 700,000,000.00 | 750,000,000.00 | 226,844,897.35 | ||||
AIRPLANES Group
Report to Certificateholders
All numbers in US$ unless otherwise stated
| (iv) | PAYMENT ON THE CERTIFICATES | |||
| (b) | FIXED RATE CERTIFICATES | Class C | Class D | |
| Applicable Interest Rate | 8.1500% | 10.8750% | ||
| Interest Amount Payable | ||||
| - Charge in current period on outstanding principal balance | 2,375,979.69 | 3,580,412.50 | ||
| - Charge in current period on interest arrears | 132,205.63 | 267,964.39 | ||
| - Accrued & unpaid interest from prior periods | 19,465,859.43 | 29,568,484.67 | ||
| 21,974,044.75 | 33,416,861.56 | |||
| Interest Amount Payment | 0.00 | 0.00 | ||
| 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 16, 2004) | 349,837,500.00 | 395,080,000.00 | ||
| Table of rescheduled Pool Factors | n/a | n/a | ||
| in the event of a partial redemption | ||||
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 | 1.60000% | 1.60000% | 1.60000% | 1.60000% | |
| Applicable Margin | 0.34000% | 0.37500% | 0.55000% | 0.75000% | |
| Applicable Interest Rate | 1.94000% | 1.97500% | 2.15000% | 2.35000% | |
| (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 | 561.49 | 7,000.00 | 7,500.00 | 2,268.45 | |
| Total Principal Payments | (83.89) | 0.00 | 0.00 | 0.00 | |
| Closing Outstanding Principal Balance | 477.60 | 7,000.00 | 7,500.00 | 2,268.45 | |
| Total Interest Payment | 0.86 | 10.92 | 12.87 | 0.00 | |
| 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 Payment | 0.00 | 0.00 | |||
| Total Premium | 0.00 | 0.00 | |||
