Aircraft Lease Portfolio Securitisation 92-1 Inactive
Filed: 15 Feb 05, 12:00am
Page 4 of 8 Pages
Aircraft Lease Portfolio Securitization
96-1 Pass Through Trust
Statement To Certificateholders
| DISTRIBUTION IN DOLLARS | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| CLASS | ORIGINAL FACE VALUE | PRIOR PRINCIPAL BALANCE | INTEREST | PRINCIPAL | PREMIUM | TOTAL | REALIZED LOSSES | ACCRETED INTEREST | CURRENT PRINCIPAL BALANCE |
| A | 25,000,000.00 | 7,856,598.69 | 17,537.67 | 0.00 | 0.00 | 17,537.67 | 0.00 | 0.00 | 7,856,598.69 |
| A | 60,000,000.00 | 18,855,836.68 | 42,090.42 | 0.00 | 0.00 | 42,090.42 | 0.00 | 0.00 | 18,855,836.68 |
| A | 160,673,000.00 | 50,493,730.91 | 112,713.23 | 0.00 | 0.00 | 112,713.23 | 0.00 | 0.00 | 50,493,730.91 |
| B | 56,868,750.00 | 40,063,750.00 | 107,504.40 | 0.00 | 0.00 | 107,504.40 | 0.00 | 0.00 | 40,063,750.00 |
| B | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| C | 50,044,500.00 | 39,559,903.71 | 118,459.93 | 0.00 | 0.00 | 118,459.93 | 0.00 | 0.00 | 39,559,903.71 |
| D | 40,945,500.00 | 34,022,700.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 34,022,700.00 |
| E-1 | 82,918,250.00 | 82,918,250.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 82,918,250.00 |
| E-2 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| TOTALS | 476,450,000.00 | 273,770,769.99 | 398,305.65 | 0.00 | 0.00 | 398,305.65 | 0.00 | 0.00 | 273,770,769.99 |
| FACTOR INFORMATION PER $1000 OF ORIGINAL FACE | PASS-THRU RATES | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| CLASS | CUSIP | PRIOR PRINCIPAL BALANCE | INTEREST | PRINCIPAL | PREMIUM | TOTAL | CURRENT PRINCIPAL BALANCE | * CURRENT | NEXT |
| A | 02109PAA8 | 314.263948 | 0.701507 | 0.000000 | 0.000000 | 0.701507 | 314.263948 | 3.370000% | 3.432500% |
| A | U02029AA1 | 314.263945 | 0.701507 | 0.000000 | 0.000000 | 0.701507 | 314.263945 | 3.370000% | 3.432500% |
| A | 02109PAE0 | 314.263945 | 0.701507 | 0.000000 | 0.000000 | 0.701507 | 314.263945 | 3.370000% | 3.432500% |
| B | 0219PAF7 | 704.494999 | 1.890395 | 0.000000 | 0.000000 | 1.890395 | 704.494999 | 3.950000% | 4.012500% |
| B | U02029AB9 | 0.000000 | 0.000000 | 0.000000 | 0.000000 | 0.000000 | 0.000000 | 3.950000% | 4.012500% |
| C | 02109PAG5 | 790.494534 | 2.367092 | 0.000000 | 0.000000 | 2.367092 | 790.494534 | 4.350000% | 4.412500% |
| D | 02109PAH3 | 830.926475 | 0.000000 | 0.000000 | 0.000000 | 0.000000 | 830.926475 | 13.750000% | 13.750000% |
| E-1 | AL9601108 | 1,000.000000 | 0.000000 | 0.000000 | 0.000000 | 0.000000 | 1,000.000000 | 10.000000% | 10.000000% |
| E-2 | AL9601109 | 0.000000 | 0.000000 | 0.000000 | 0.000000 | 0.000000 | 0.000000 | 10.000000% | 10.000000% |
| SELLER: | N/A | ADMINISTRATOR: | Michele Voon |
| SERVICER: | Babcock & Brown Limited | Deutsche Bank | |
| LEAD UNDERWRITER: | Lehman Brothers | 4 Albany Street | |
| RECORD DATE: | January 31, 2005 | New York, NY 10006 | |
| DISTRIBUTION DATE: | February 15, 2005 | FACTOR INFORMATION: | (800) 735-7777 |
© COPYRIGHT 2005 Deutsche Bank
Page 5 of 8 Pages
Statement To Certificateholders
1. COLLATERAL SUMMARY:
1.1. DUE PERIOD 01-Jan-2005 to 31-Jan-2005
1.2. ADDITIONAL REPORTED ITEMS
| Initial Appraised Value of all Aircraft | ......................................................... | 320,510,000.00 |
| Aircraft Book Value | ......................................................... | 237,122,295.83 |
| Rentals, Interest and Other Payments in Arrears | ......................................................... | 559,481.00 |
| Is there an existing Event of Default? | ......................................................... | YES* |
| Number of Registration Defaults | ......................................................... | 0.00 |
| Has an Enforcement Notice been Issued? | ......................................................... | NO |
| WFC Aircraft Sale Date | ......................................................... | n/a |
| WFC Aircraft Payment Default Date | ......................................................... | n/a |
2. SUMMARY OF AVAILABLE FUNDS
2.1. COLLECTIONS
Interim deposits, withdrawals and transfers
| Rents, Interest, Deferred Debt & Other Lessee Payments | 1,503,724.00 |
| Swap Receipts | 0.00 |
| Collections applied to excess aircraft Maintenance Expenses | 0.00 |
| Interim withdrawal of Defaulted Rent from the Lease Maintenance Reserve Account or the Lease Security Deposit Account | 0.00 |
| Transfer of Maintenance Reserve Receipts to Lessee Funded Account | 0.00 |
| Transfer of Security Deposit Receipts to Lessee Funded Account | 0.00 |
| Proceeds from sale or other disposition of any Aircraft, Engine or other asset | 0.00 |
| Remaining Aircraft Purchase Account funds after Aircraft Sale Date | 0.00 |
| Sub Total: 1,503,724.00 |
Payment Date deposits and transfers
Investment Earnings:
| Collections Sub Account | 38,553.81 |
| Expense Account | 0.00 |
| Aircraft Purchase Account | 0.00 |
| Class D Note Interest Reserve Account | 0.00 |
| Contingency Reserve Account | 2,418.45 |
| Maintenance Reserve Account | 0.00 |
| Security Deposit Account | 0.00 |
| Total Investment earnings for all accounts | 40,972.26 |
| Investment Earnings retained within Maintenance Reserve Account | 0.00 |
| Investment Earnings retained within Security Deposit Reserve Account | 0.00 |
| 0.00 |
| Sub Total: 1,544,696.26 |
| * | The company had insufficient funds to pay all of the interest due to the holders of the Class D Notes. The arrears owed to Class D Noteholders for the Due Period are $9,673,291.78 See Item 1.2 “Interest Amounts-Unpaid Balance D Note” below for total overdue interest owed to holders of Class D Notes. |
© COPYRIGHT 2005 Deutsche Bank
Page 6 of 8 Pages
Statement To Certificateholders
2. SUMMARY OF AVAILABLE FUNDS (cont.)
2.1. COLLECTIONS (cont.)
| After Enforcement Notice or Disposition of Last Aircraft Lessee Funded Account Transfers | 0.00 |
| After Enforcement Notice, Aircraft Purchase Acct. funds | 0.00 |
| Remaining amounts in the Aircraft Purchase Account transferred due to WFC Aircraft Delivery Termination Date or WFC Aircraft Payment Default Date | 0.00 |
| Sub Total: 1,544,696.26 |
Other Miscellaneous amounts
| For any aircraft which has undergone a total loss or for which the lease has been sold, conveyed or transferred: | |
| Available Maintenance Reserves Amount | 0.00 |
| Available Security Deposit Amount | 0.00 |
| Miscellaneous Other Proceeds | 0.00 |
| Available Collections transferred to the Transaction Account: | 1,544,696.26 |
Reserve Account transfers
| Maintenance Reserve Amount withdrawals from the Collection Sub-Account | 0.00 |
| Liquidity Reserve Amount withdrawals from the Collection Sub-Account | 0.00 |
| Amounts withdrawn from the Class D Interest Reserve Sub-Account | 0.00 |
| Amounts withdrawn from the Contingency Reserve Sub-Account | 0.00 |
| Total Amounts transferred to the Transaction Account: | 1,544,696.26 |
2.2. PAYMENTS FROM TRANSACTION ACCOUNT
| *Required Expense Amount plus Additional Company Expenses, Fees and Taxes | 80,640.00 |
| Amounts transferred to the Collection Account for Maintenance Reserve Amount | 0.00 |
| Swap Payments due to Swap Provider | 0.00 |
| Amounts transferred to the Collection Account for Liquidity Reserve Amount | 1,065,750.61 |
| Amounts transferred to the Class D Note Interest Reserve Account | 0.00 |
| Aggregate Swap Breakage Costs | 0.00 |
| Current plus prior unpaid Annual Dividends | 0.00 |
| Deposit to the Lessee Funded Account for funds previously transferred from the Lessee Funded Account according to Clause 7.07(a)(iv) of the Deed of Charge. | 0.00 |
| 1,146,390.61 | |
| Payments to Noteholders | 398,305.65 |
| Total Amounts transferred to the Transaction Account: | 1,544,696.26 |
| *Monthly withdrawal from Collection Account for Carotene Account | 18,140.00 |
© COPYRIGHT 2005 Deutsche Bank
Page 7 of 8 Pages
Aircraft Lease Portfolio Securitization
96-1 Pass Through Trust
Statement To Certificateholders
CERTIFICATE PAYMENTS DETAIL REPORT
1.1. INDICES
| Current LIBOR Index Rate | 2.5000% | ||
| Next LIBOR Index Rate | 2.5625% |
1.2. INTEREST AMOUNTS
| CLASS | ||||
|---|---|---|---|---|
| ACCRUED and UNPAID INTEREST AMOUNTS | ||||
| Note | Other (1) | Total | ||
| A Note | 172,341.32 | 1,206,700.21 | 1,379,041.53 | |
| B Note | 107,504.40 | 543,282.40 | 650,786.80 | |
| C Note | 118,459.93 | 524,944.09 | 643,404.02 | |
| D Note | 9,673,291.78 | 1,936,413.01 | 11,609,704.79 | |
| E Note | 58,233,608.27 | 0.00 | 58,233,608.27 | |
| 68,305,205.70 | 4,211,339.71 | 72,516,545.41 | ||
| CLASS | ||||
|---|---|---|---|---|
| UNPAID BALANCE | ||||
| Note | Other (1) | Total | ||
| A Note | 0.00 | 1,206,700.21 | 1,206,700.21 | |
| B Note | 0.00 | 543,282.40 | 543,282.40 | |
| C Note | 0.00 | 524,944.09 | 524,944.09 | |
| D Note | 9,673,291.78 | 1,936,413.01 | 11,609,704.79 | |
| E Note | 58,233,608.27 | 0.00 | 58,233,608.27 | |
| 67,906,900.05 | 4,211,339.71 | 72,118,239.76 | ||
1.3. PRINCIPAL AMOUNTS
| CLASS | Target Balance | Target Amount | Additional Principal | Target Amount Shortfall | |
|---|---|---|---|---|---|
| A Note | (0.00) | 77,206,166.28 | 0.00 | 77,206,166.28 | |
| B Note | 40,063,750.00 | 0.00 | 0.00 | 0.00 | |
| C Note | 35,256,100.00 | 4,303,803.71 | 0.00 | 4,303,803.71 | |
| D Note | 28,845,900.00 | 5,176,800.00 | 0.00 | 5,176,800.00 | |
| 86,686,769.99 | 0.00 | 86,686,769.99 |
1.4. OTHER AMOUNTS
| a) Class D Note Unpaid Makewhole Premium Amount | 0.00 | |
| b) Class E Contingent Interest Amount | 0.00 | |
| c) Unpaid Annual Dividends Balance | 0.00 |
© COPYRIGHT 2005 Deutsche Bank
Page 8 of 8 Pages
Statement To Certificateholders
1. ACCOUNT ACTIVITY SUMMARY:
Note: Amounts reflect activity which has occurred during the relevant Due Period, as well as transfers resulting from the current Payment Date.
| Name | Prior Balance | Deposits | Withdrawals | Adjustments | Balance |
|---|---|---|---|---|---|
| COLLECTION ACCOUNT | |||||
| Collections Sub-Account | 20,808,121.74 | 2,610,446.87 | 1,544,696.26 | 0.00 | 21,873,872.35 |
| Expense Sub-Account | 0.00 | 62,500.00 | 34,203.75 | 0.00 | 28,296.25 |
| Aircraft Purchase Sub-Account | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Class D Note Interest Reserve Sub-Account | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Contingency Reserve Sub-Account | 1,400,000.00 | 2,418.45 | 2,418.45 | 0.00 | 1,400,000.00 |
| TOTALS: | 22,208,121.74 | 2,675,365.32 | 1,581,318.46 | 0.00 | 23,302,168.60 |
LESSEE FUNDED ACCOUNT | |||||
| Segregated Maintenance Reserve Sub-Account | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Segregated Security Deposit Sub-Account | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| TOTALS: | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Liquidity Reserve Amount | 22,191,000.00 |
| Amounts held in respect of the Liquidity Reserve Amount within the Collection Account | 21,873,872.35 |
| Surplus/(Shortfall) | (317,127.65) |
2. MISCELLANEOUS:
2.1. AIRCRAFT DETAILS
| Aircraft Lessee | Aircraft Serial Number | Avg. Appraised Value (1) | Date Appraised | Aircraft Book Value | Event Date | Event Description (2) | Sale / Insurance Proceeds | |
|---|---|---|---|---|---|---|---|---|
| N/A | 127 | 0.00 | n/a | 0.00 | 8/2/1999 | S | 5,525,217.00 | |
| N/A | 283 | 0.00 | n/a | 0.00 | 12/20/2002 | S | 20,757,041.00 | |
| N/A | 11287 | 0.00 | n/a | 0.00 | 7/2/1999 | S | 12,646,518.00 | |
| N/A | 22381 | 0.00 | n/a | 0.00 | 7/24/1997 | S | 35,000,000.00 | |
| Batavia Air | 23869 | 13,860,000.00 | 30-Jun-2004 | 17,287,057.78 | -- | |||
| Travel Service | 23870 | 14,540,000.00 | 30-Jun-2004 | 17,794,036.11 | -- | |||
| Transaero Airlines | 24519 | 14,990,000.00 | 30-Jun-2004 | 18,451,442.78 | -- | |||
| China Southern | 24898 | 13,340,000.00 | 30-Jun-2004 | 16,158,782.50 | -- | |||
| N/A | 24914 | 0.00 | n/a; | 0.00 | 10/1/2002 | S | 11,577,067.00 | |
| Air Canada | 24952 | 37,680,000.00 | 30-Jun-2004 | 50,339,395.00 | -- | |||
| Air Canada | 25000 | 37,170,000.00 | 30-Jun-2004 | 50,391,352.50 | -- | |||
| Air 2000(First Choice Airways) | 25054; | 23,630,000.00 | 30-Jun-2004 | 32,577,352.50 | -- | |||
| Meridiana | 49785 | 10,510,000.00 | 30-Jun-2004 | 17,006,080.00 | -- | |||
| Allegiant Air | 49786 | 10,900,000.00 | 30-Jun-2004 | 17,116,796.67 | -- | |||
| 176,620,000.00 | 237,122,295.83 | 85,505,843.00 | ||||||
Notes: (1) Appraised Values have been provided by: Avitas Inc., Aircraft Information Services Inc. and BK Associates Inc.
(2) Event Description Key: S = sold, L = loss and PDE = Premium Disposition Event.
| 2.2. | AMENDMENTS TO THE LIST OF NON-ACCEPTABLE COUNTRIES |
© COPYRIGHT 2005 Deutsche Bank