Exhibit A
AIRPLANES GROUP
Report to Certificateholders
All numbers in US$ unless otherwise stated
Payment Date: 15 January, 1997.
Calculation Date: 9 January, 1997.
(i) ACCOUNT ACTIVITY SUMMARY (Between Calculation Dates)
---------------------------------------------------
Prior Balance Deposits Withdrawals Balance on
Calculation
Date
-----------------------------------------------------------------
10-Dec-96 9-Jan-97
Lessee Funded Account 0.00 0.00 (0.00) 0.00
Expense Account (note ii) 33,150,631.10 12,600,707.08 (28,339,409.68) 17,411,928.50
Collection Account (note iii) 234,366,783.16 51,582,431.76 (55,229,783.16) 230,719,431.76
- Miscellaneous Reserve 40,000,000.00 40,000,000.00
- Maintenance Reserve 80,000,000.00 80,000,000.00
- Security Deposit 56,897,000.00 59,137,000.00
- Other Collections 57,469,783.16 51,582,431.76
Total 267,517,414.26 64,183,138.84 (83,569,192.84) 248,131,360.26
(ii) ANALYSIS OF EXPENSE ACCOUNT ACTIVITY
------------------------------------
Balance on preceding Calculation Date
(December 10,1996) 33,150,631.10
Transfer from Collection Account (previous
Payment Date) 12,500,000.00
Interest Earned during period 100,707.08
Payments during period between prior Calculation
Date and the relevant Calculation Date:
- Payments on previous Payment Date (5,827,382.02)
- Other payments (22,512,027.66)
Balance on relevant Calculation Date
(January 9, 1997) 17,411,928.50
(iii) ANALYSIS OF COLLECTION ACCOUNT ACTIVITY
---------------------------------------
Balance on preceding Calculation Date
(December 10, 1996) 234,366,783.16
Collections during period 51,582,431.76
Transfer to Expense Account (previous Payment Date) (12,500,000.00)
Net transfer to Lessee Funded Accounts
Aggregate Certificate Payments (previous
Payment Date) (41,737,767.20)
Swap payments (previous Payment Date) (992,015.96)
Balance on relevant Calculation Date
(January 9, 1997) 230,719,431.76
(iii) ANALYSIS OF COLLECTION ACCOUNT ACTIVITY (Cont'd)
------------------------------------------------
ANALYSIS OF CURRENT PAYMENT DATE DISTRIBUTIONS
----------------------------------------------------------
Priority of Payments
(i) Required Expense Amount 32,411,928.50
(ii) a) Class A Interest 13,569,217.16
b) Swap Payments 349,996.95
(iii) First Collection Account Top-up 120,000,000.00
(iv) Minimum Hedge Payment 19,700.00
(v) Class A Minimum Principal 0.00
(vi) Class B Interest 2,035,228.83
(vii) Class B Minimum Principal 1,137,352.00
(viii) Class C Interest 2,546,875.00
(ix) Class D Interest 3,625,000.00
(x) Second Collection Account Top-up 60,571,750.00
(xi) Class A Principal Adjustment Amount 0.00
(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 492,684.17
(xvii) Supplemental Hedge Payment 19,700.00
(xviii) Class B Supplemental Principal 0.00
(xix) Class A Supplemental Principal 11,351,927.65
(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 248,131,360.26
Less Collection Account Top-Ups ((iii) and (180,571,750.0
(x)above) 0)
--------------
67,559,610.26
==============
(iv) PAYMENT ON THE CERTIFICATES
---------------------------
(a) FLOATING RATE
CERTIFICATES A-1 A-2 A-3 A-4 A-5 Class B
--------------
Applicable LIBOR 5.60547% 5.60547% 5.60547% 5.60547% 5.60547% 5.60547%
Applicable Margin 0.25000% 0.32000% 0.47000% 0.62000% 0.35000% 1.10000%
Applicable Interest
Rate 5.85547% 5.92547% 6.07547% 6.22547% 5.95547% 6.70547%
Interest Amount
Payable 4,147,624.58 3,703,418.75 2,531,445.83 1,037,578.33 2,149,149.67 2,035,228.83
Step Up Interest
Amount 0.00 0.00 0.00 0.00 0.00 0.00
Opening Principal
Balance 850,000,000.00 750,000,000.00 500,000,000.00 200,000,000.00 433,043,840.97 364,221,239.00
Minimum Principal
Payment Amount 0.00 0.00 0.00 0.00 0.00 1,137,352.00
Adjusted Principal
Payment Amount 0.00 0.00 0.00 0.00 0.00 0.00
Supplemental Principal
Payment Amount 0.00 0.00 0.00 0.00 11,351,927.65 0.00
Total Principal
Distribution Amount 0.00 0.00 0.00 0.00 11,351,927.65 1,137,352.00
Redemption Amount
- amount allocable
to principal 0.00 0.00 0.00 0.00 0.00 0.00
- premium allocable
to premium 0.00 0.00 0.00 0.00 0.00 0.00
Outstanding Principal Balance
(Jan 15, 1997) 850,000,000.00 750,000,000.00 500,000,000.00 200,000,000.00 421,691,913.32 363,083,887.00
(b) FIXED RATE CERTIFICATES Class C Class D
-----------------------
Applicable Interest Rate 8.1500% 10.8750%
Interest Amount Payable 2,546,875.00 3,625,000.00
Opening Principal Balance 375,000,000.00 400,000,000.00
Scheduled Principal Payment Amount 0.00 0.00
Redemption Amount
- amount allocable to principal 0.00 0.00
- amount allocable to premium 0.00 0.00
Pool Factors and scheduled dollar
amount for each class 0.00 0.00
Outstanding Principal Balance
(Jan 15, 1997) 375,000,000.00 400,000,000.00
Table of rescheduled Pool Factors n/a n/a
in the event of a partial redemption
(v) FLOATING RATE CERTIFICATE INFORMATION FOR NEXT INTEREST ACCRUAL PERIOD (Aggregate Amounts)
--------------------------------------------------------------------------------------------------------------------------
A-1 A-2 A-3 A-4 A-5 Class B
Applicable LIBOR 5.48438% 5.48438% 5.48438% 5.48438% 5.48438% 5.48438%
Applicable Margin 0.25000% 0.32000% 0.47000% 0.62000% 0.35000% 1.10000%
Applicable Interest Rate 5.73438% 5.80438% 5.95438% 6.10438% 5.83438% 6.58438%
(vi) CURRENT PERIOD PAYMENTS Per $100,000 Initial Outstanding Principal Balance of Certificates)
-------------------------------------------------------------------------------------------
(a) FLOATING RATE CERTIFICATES
--------------------------
A-1 A-2 A-3 A-4 A-5 Class B
Opening Principal Amount 8,500.00 7,500.00 5,000.00 2,000.00 4,330.44 3,642.21
Total Principal Payments 0.00 0.00 0.00 0.00 113.52 11.37
Closing Outstanding Principal
Balance 8,500.00 7,500.00 5,000.00 2,000.00 4,216.92 3,630.84
Total Interest 41.48 37.03 25.31 10.38 21.49 20.35
Total Premium 0.00 0.00 0.00 0.00 0.00 0.00
(b) FIXED RATE CERTIFICATES
-----------------------
Class C Class D
Opening Principal Amount 3,750.00 4,000.00
Total Principal Payments 0.00 0.00
Outstanding Principal Balance 3,750.00 4,000.00
Total Interest 25.47 36.25
Total Premium 0.00 0.00