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 August 15, 2002
Current Calculation Date August 9, 2002
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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 4,639,087.12 2,967,636.07 (1,325,288.12) 6,281,435.07
Collection Account 95,239,540.77 13,800,866.66 (12,254,369.34) 96,786,038.09
Lessee Funded Account 10,905,432.35 19,835.12 - 10,925,267.47
Class A Contingent Collateral Account 3,076,195.95 4,548.52 - 3,080,744.47
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Total 113,860,256.19 16,792,886.37 (13,579,657.46) 117,073,485.10
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2. Analysis of Expenses Account Activity
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Opening Balance on Previous Calculation Date 4,639,087.12
Transfer from Collection Account on Previous Payment Date 2,967,636.07
Interim Transfer from (to) Collection Account -
Payments on Previous Payment Date (446,147.77)
Interim Payments (879,140.35)
Other -
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Balance on Current Calculation Date 6,281,435.07
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3. Analysis of Collection Account Activity
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Opening Balance on Previous Calculation Date 95,239,540.77
Collections during Period
- lease rentals 11,813,588.56
- maintenance reserves 1,556,328.91
- other 294,645.17
- interest income 136,304.02
Drawings under Credit or Liquidity Enhancement Facilities -
Repayment of Drawings under Credit or Liquidity Enhancement Facilities -
Transfer to Expense Account on Previous Payment Date (2,967,636.07)
Net Swap Receipts (Payments) on Previous Payment Date (3,623,842.80)
Net Transfers from (to) Lessee Funded Accounts (14,828.57)
Aggregate Note Payments on Previous Payment Date (5,648,061.90)
Interim Transfer from (to) Expense Account -
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Balance on Current Calculation Date 96,786,038.09
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Net Transfers pursuant to Section 3.07 of the Trust Indenture 257,333.33
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Available Collections 97,043,371.42
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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 1,093,712.46
(ii) (a) Class A Interest 2,019,668.41
(b) Swap Payments other than subordinated swap payments 4,004,500.89
(iii) Repayment of Senior Eligible Credit Facilities -
(iv) First Collection Account top-up 33,000,000.00
(v) Class A Minimum principal payment 971,701.54
(vi) Class B Interest 620,267.02
(vii) Repayment of Mezzanine Eligible Credit Facilities -
(viii) Second Collection account top-up 20,000,000.00
(ix) Class B Minimum principal payment 366,713.56
(x) Class C Interest 719,317.59
(xi) Repayment of Junior Eligible Credit Facilities -
(xii) Third Collection Account top-up 19,000,000.00
(xiii) Class C Minimum principal payment 376,903.69
(xiv) Class D Interest 281,784.72
(xv) Repayment of Subordinate Eligible Credit Facilities -
(xvi) Fourth Collection Account top-up 11,000,000.00
(xvii) Class D Minimum principal payment 159,985.40
(xviii) Expense Accrual 21,016.84
(xix) Additional and Step-up Interest
(a) Additional Interest -
(b) Maturity Step-up Interest -
(c) Registration Step-up Interest -
(xx) Class A Scheduled principal 3,195,838.54
(xxi) Class B Scheduled principal 211,960.76
(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 14,043,371.42
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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 1.83875% 1.83875% 1.83875%
Applicable Margin 0.39000% 0.43000% 0.43000%
Applicable Interest Rate 2.22875% 2.26875% 2.26875%
Actual Number of Days 31 31 31
Interest Amount Paid 767,680.56 507,947.92 744,039.93
Additional Interest Paid - - -
Maturity Step-up Interest Amount Paid - - -
Registration Step-up Interest Amount Paid - - -
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Total Interest Paid 767,680.56 507,947.92 744,039.93
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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 400,000,000.00 260,000,000.00 380,846,886.05
Total Principal Distribution Amount - - 4,167,540.08
Redemption Amount:
Amount allocable to principal - - -
Amount allocable to premium - - -
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Closing Outstanding Principal Balance 400,000,000.00 260,000,000.00 376,679,345.97
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Subclass Subclass Subclass
(a) Floating Rate Notes (Continued) B-1 C-1 D-1
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Applicable LIBOR 1.83875% 1.83875% 1.83875%
Applicable Margin 1.12000% 2.12000% 2.00000%
Applicable Interest Rate 2.95875% 3.95875% 3.83875%
Number of Days 31 31 31
Interest Amount Payable 146,867.52 234,733.37 115,458.99
Additional Interest Paid - - -
Registration Step-up Interest Amount Paid - - -
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Total Interest Paid 146,867.52 234,733.37 115,458.99
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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 57,644,554.34 68,858,501.32 34,928,404.30
Total Principal Distribution Amount 242,800.41 184,442.24 93,324.82
Redemption Amount:
Amount allocable to principal - - -
Amount allocable to premium - - -
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Closing Outstanding Principal Balance 57,401,753.93 68,674,059.08 34,835,079.48
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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 473,399.50 484,584.22 166,325.73
Additional Interest Paid - - -
Registration Step-up Interest Amount Paid - - -
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Total Interest Paid 473,399.50 484,584.22 166,325.73
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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 79,741,633.53 71,852,349.21 24,948,860.21
Total Principal Distribution Amount 335,873.91 192,461.45 66,660.58
Redemption Amount:
Amount allocable to principal - - -
Amount allocable to premium - - -
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Closing Outstanding Principal Balance 79,405,759.62 71,659,887.76 24,882,199.63
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5. Floating Rate Note information for next Interest Accrual Period
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Next Payment Date September 16, 2002
Next Calculation Date September 10, 2002
Reference Date August 13, 2002
Subclass Subclass Subclass
A-1 A-2 A-3
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Applicable LIBOR 1.78000% 1.78000% 1.78000%
Applicable Margin 0.39000% 0.43000% 0.43000%
Applicable Interest Rate 2.17000% 2.21000% 2.21000%
Subclass Subclass Subclass
B-1 C-1 D-1
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Applicable LIBOR 1.78000% 1.78000% 1.78000%
Applicable Margin 1.12000% 2.12000% 2.00000%
Applicable Interest Rate 2.90000% 3.90000% 3.78000%
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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 89,611.03
Total Principal Payments - - 980.60
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Closing Outstanding Principal Balance 100,000.00 100,000.00 88,630.43
Total Interest 191.92 195.36 175.07
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 96,074.26 99,794.93 99,795.44
Total Principal Payments 404.67 267.31 266.64
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Closing Outstanding Principal Balance 95,669.59 99,527.62 99,528.80
Total Interest 244.78 340.19 329.88
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 96,074.26 99,794.93 99,795.44
Total Principal Payments 404.67 267.31 266.64
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Closing Outstanding Principal Balance 95,669.59 99,527.62 99,528.80
Total Interest 570.36 673.03 665.30
Total Premium - - -
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