Exhibit 99.1
LEASE INVESTMENT FLIGHT TRUST
ASSET BACKED NOTES, SERIES 2001-1
MONTHLY REPORT TO NOTEHOLDERS
All amounts in US dollars unless otherwise stated
Payment Date 15th of each month
Convention Modified Following Business Day
Current Payment Date November 15, 2001
Current Calculation Date November 8, 2001
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1. Account Activity Summary between Calculation Dates
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Prior Balance on
Balance Deposits Withdrawals Calculation Date
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Expense Account 3,476,426.55 673,353.88 (643,322.20) 3,506,458.23
Collection Account 94,519,422.98 12,118,663.60 (11,551,137.27) 95,086,949.31
Lessee Funded Account 10,256,837.55 37,802.07 - 10,294,639.62
Class A Contingent Collateral Account 3,028,997.35 7,436.72 - 3,036,434.07
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Total 111,281,684.43 12,837,256.27 (12,194,459.47) 111,924,481.23
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2. Analysis of Expenses Account Activity
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Opening Balance on Previous Calculation Date 3,476,426.55
Transfer from Collection Account on Previous Payment Date 673,353.88
Interim Transfer from (to) Collection Account -
Payments on Previous Payment Date (535,537.31)
Interim Payments (107,784.89)
Other -
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Balance on Current Calculation Date 3,506,458.23
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3. Analysis of Collection Account Activity
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Opening Balance on Previous Calculation Date 94,519,422.98
Collections during Period
- lease rentals 10,677,183.70
- maintenance reserves 1,144,012.89
- other 43,428.58
- interest income 254,038.43
Drawings under Credit or Liquidity Enhancement Facilities -
Repayment of Drawings under Credit or Liquidity Enhancement Facilities -
Transfer to Expense Account on Previous Payment Date (673,353.88)
Net Swap Receipts (Payments) on Previous Payment Date (2,167,705.26)
Net Transfers from (to) Lessee Funded Accounts (31,714.29)
Aggregate Note Payments on Previous Payment Date (8,678,363.84)
Interim Transfer from (to) Expense Account -
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Balance on Current Calculation Date 95,086,949.31
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Net Transfers pursuant to Section 3.07 of the Trust Indenture (11,714.29)
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Available Collections 95,075,235.02
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Page 1 of 5
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3. Analysis of Collection Account Activity (Continued)
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Analysis of Current Payment Date Distributions
(i) Required Expense Amount 265,449.54
(ii) (a) Class A Interest 2,706,493.45
(b) Swap Payments other than subordinated swap payments 3,396,123.13
(iii) Repayment of Senior Eligible Credit Facilities -
(iv) First Collection Account top-up 33,000,000.00
(v) Class A Minimum principal payment 1,536,130.98
(vi) Class B Interest 671,293.72
(vii) Repayment of Mezzanine Eligible Credit Facilities -
(viii) Second Collection account top-up 20,000,000.00
(ix) Class B Minimum principal payment 262,320.80
(x) Class C Interest 761,570.42
(xi) Repayment of Junior Eligible Credit Facilities -
(xii) Third Collection Account top-up 19,000,000.00
(xiii) Class C Minimum principal payment -
(xiv) Class D Interest 303,045.14
(xv) Repayment of Subordinate Eligible Credit Facilities -
(xvi) Fourth Collection Account top-up 11,000,000.00
(xvii) Class D Minimum principal payment -
(xviii) Expense Accrual 1,031,240.54
(xix) Additional and Step-up Interest
(a) Additional Interest -
(b) Maturity Step-up Interest -
(c) Registration Step-up Interest -
(xx) Class A Scheduled principal 1,117,344.04
(xxi) Class B Scheduled principal 24,223.26
(xxii) Class C Scheduled principal -
(xxiii) Class D Scheduled principal -
(xxiv) Reimbursement of Beneficial Interest Cure Payments -
(xxv) Expense Account for Modification Accruals and Refinancing Payments -
(xxvi) Class A Outstanding Principal Balance -
(xxvii) Class B Outstanding Principal Balance -
(xxviii) Class C Outstanding Principal Balance -
(xxix) Class D Outstanding Principal Balance -
(xxx) Subordinated Swap Payments -
(xxxi) Additional Servicing Obligations -
(xxxii) Remainder to Beneficial Interest -
Analysis of Liquidity Reserve Amount
First Collection Account Top-up 33,000,000.00
Second Collection Account Top-up 20,000,000.00
Third Collection Account Top-up 19,000,000.00
Fourth Collection Account Top-up 11,000,000.00
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Total Liquidity Reserve Amount 83,000,000.00 (83,000,000.00)
Total Payments with respect to Payment Date
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less Collection Account Top Ups (iv), (viii), (xii), and (xvi) above 12,075,235.02
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Page 2 of 5
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4. Payments on the Notes by Subclass
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Subclass Subclass Subclass
(a) Floating Rate Notes A-1 A-2 A-3
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Applicable LIBOR 2.52500% 2.52500% 2.52500%
Applicable Margin 0.39000% 0.43000% 0.43000%
Applicable Interest Rate 2.91500% 2.95500% 2.95500%
Actual Number of Days 31 31 31
Interest Amount Paid 1,004,055.56 661,591.67 1,040,846.22
Additional Interest Paid - - -
Maturity Step-up Interest Amount Paid - - -
Registration Step-up Interest Amount Paid - - -
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Total Interest Paid 1,004,055.56 661,591.67 1,040,846.22
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Expected Final Payment Date July 15, 2003 July 15, 2004 August 15, 2010
Excess Amortization Date July 15, 2003 July 15, 2004 July 15, 2001
Original Balance 400,000,000.00 260,000,000.00 425,000,000.00
Opening Outstanding Principal Balance 400,000,000.00 260,000,000.00 409,043,871.58
Total Principal Distribution Amount - - 2,653,475.02
Redemption Amount:
Amount allocable to principal - - -
Amount allocable to premium - - -
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Closing Outstanding Principal Balance 400,000,000.00 260,000,000.00 406,390,396.56
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Subclass Subclass Subclass
(a) Floating Rate Notes (Continued) B-1 C-1 D-1
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Applicable LIBOR 2.52500% 2.52500% 2.52500%
Applicable Margin 1.12000% 2.12000% 2.00000%
Applicable Interest Rate 3.64500% 4.64500% 4.52500%
Number of Days 31 31 31
Interest Amount Payable 185,622.18 275,990.42 136,378.47
Additional Interest Paid - - -
Registration Step-up Interest Amount Paid - - -
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Total Interest Paid 185,622.18 275,990.42 136,378.47
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Expected Final Payment Date May 15, 2018 May 15, 2018 May 15, 2018
Excess Amortization Date July 15, 2001 May 15, 2018 August 15, 2010
Original Balance 60,000,000.00 69,000,000.00 35,000,000.00
Opening Outstanding Principal Balance 59,138,886.80 69,000,000.00 35,000,000.00
Total Principal Distribution Amount 120,228.27 - -
Redemption Amount:
Amount allocable to principal - - -
Amount allocable to premium - - -
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Closing Outstanding Principal Balance 59,018,658.53 69,000,000.00 35,000,000.00
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Page 3 of 5
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4. Payments on the Notes by Subclass (Continued)
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Subclass Subclass Subclass
(b) Fixed Rate Notes B-2 C-2 D-2
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Applicable Interest Rate 7.12400% 8.09300% 8.00000%
Number of Days 30 30 30
Interest Amount Payable 485,671.54 485,580.00 166,666.67
Additional Interest Paid - - -
Registration Step-up Interest Amount Paid - - -
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Total Interest Paid 485,671.54 485,580.00 166,666.67
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Expected Final Payment Date May 15, 2018 May 15, 2018 May 15, 2018
Excess Amortization Date July 15, 2001 May 15, 2018 August 15, 2010
Original Balance 83,000,000.00 72,000,000.00 25,000,000.00
Opening Outstanding Principal Balance 81,808,793.44 72,000,000.00 25,000,000.00
Total Principal Distribution Amount 166,315.79 - -
Redemption Amount:
Amount allocable to principal - - -
Amount allocable to premium - - -
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Closing Outstanding Principal Balance 81,642,477.65 72,000,000.00 25,000,000.00
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5. Floating Rate Note information for next Interest Accrual Period
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Next Payment Date December 17, 2001
Next Calculation Date December 11, 2001
Reference Date November 13, 2001
Subclass Subclass Subclass
A-1 A-2 A-3
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Applicable LIBOR 2.08000% 2.08000% 2.08000%
Applicable Margin 0.39000% 0.43000% 0.43000%
Applicable Interest Rate 2.47000% 2.51000% 2.51000%
Subclass Subclass Subclass
B-1 C-1 D-1
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Applicable LIBOR 2.08000% 2.08000% 2.08000%
Applicable Margin 1.12000% 2.12000% 2.00000%
Applicable Interest Rate 3.20000% 4.20000% 4.08000%
Page 4 of 5
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6. Payments per $100,000 Initial Outstanding Principal Balance of Notes
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Subclass Subclass Subclass
(a) Floating Rate Notes A-1 A-2 A-3
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Opening Outstanding Principal Balance 100,000.00 100,000.00 96,245.62
Total Principal Payments - - 624.35
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Closing Outstanding Principal Balance 100,000.00 100,000.00 95,621.27
Total Interest 251.01 254.46 244.90
Total Premium - - -
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Subclass Subclass Subclass
(a) Floating Rate Notes B-1 C-1 D-1
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Opening Outstanding Principal Balance 98,564.81 100,000.00 100,000.00
Total Principal Payments 200.38 - -
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Closing Outstanding Principal Balance 98,364.43 100,000.00 100,000.00
Total Interest 309.37 399.99 389.65
Total Premium - - -
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Subclass Subclass Subclass
(b) Fixed Rate Notes B-2 C-2 D-2
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Opening Outstanding Principal Balance 98,564.81 100,000.00 100,000.00
Total Principal Payments 200.38 - -
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Closing Outstanding Principal Balance 98,364.43 100,000.00 100,000.00
Total Interest 585.15 674.42 666.67
Total Premium - - -
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Page 5 of 5