AIRPLANES Group - Report to Certificateholders
All numbers in US$ unless otherwise stated
Payment Date: October 15, 1997.
Calculation Date: October 8, 1997.
(i) ACCOUNT ACTIVITY SUMMARY (Between Calculation Dates)
----------------------------------------------------
Prior Balance Deposits Withdrawals Balance on
Calculation
Date
9-Sep-97 8-Oct-97
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Lessee Funded Account 0.00 0.00 (0.00) 0.00
Expense Account (note ii) 5,443,514.33 16,944,108.75 (11,169,929.58) 11,217,693.50
Collection Account (note iii) 238,291,158.89 50,060,526.28 (58,477,731.89) 229,873,953.28
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- Miscellaneous Reserve 40,000,000.00 40,000,000.00
- Maintenance Reserve 80,000,000.00 80,000,000.00
- Security Deposit 59,813,427.00 59,813,427.00
- Other Collections 58,477,731.89 50,060,526.28
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Total 243,734,673.22 67,004,635.03 (69,647,661.47) 241,091,646.78
==========================================================================================================
(ii) ANALYSIS OF EXPENSE ACCOUNT ACTIVITY
------------------------------------
Balance on preceding Calculation
Date (Sept 9,1997) 5,443,514.33
Transfer from Collection Account
(previous Payment Date) 16,900,150.00
Interest Earned during period 43,958.75
Payments during period between
prior Calculation Date and the
relevant Calculation Date:
- Payments on previous Payment
Date (2,491,633.46)
- Other payments (8,678,296.12)
--------------
Balance on relevant Calculation
Date (Oct 8, 1997) 11,217,693.50
=+============
(iii) ANALYSIS OF COLLECTION ACCOUNT ACTIVITY
---------------------------------------
Balance on preceding Calculation
Date (Sept 9, 1997) 238,291,158.89
Collections during period 50,060,526.28
Transfer to Expense Account
(previous Payment Date) (16,900,150.00)
Net transfer to Lessee Funded
Accounts
Aggregate Certificate Payments
(previous Payment (40,994,541.63)
Date)
Swap payments (previous Payment
Date) (583,040.26)
Balance on relevant Calculation
Date (Oct 8, 1997) 229,873,953.28
(iii) ANALYSIS OF COLLECTION ACCOUNT ACTIVITY (Cont'd)
------------------------------------------------------
ANALYSIS OF CURRENT PAYMENT DATE DISTRIBUTIONS
----------------------------------------------
Priority of Payments
(i) Required Expense Amount 21,255,091.50
(ii) a) Class A Interest 12,852,959.53
b) Swap Payments 571,774.97
(iii) First Collection Account Top-up 120,000,000.00
(iv) Minimum Hedge Payment 86,400.00
(v) Class A Minimum Principal 0.00
(vi) Class B Interest 1,986,991.11
(vii) Class B Minimum Principal 1,151,838.78
(viii) Class C Interest 2,546,875.00
(ix) Class D Interest 3,625,000.00
(x) Second Collection Account Top-up 61,835,666.00
(xi) Class A Principal Adjustment Amount 0.00
(xii) Class C Scheduled Principal 0.00
(xiii) Class D Scheduled Principal 0.00
(xiv) Modification 0.00
Payments
(xv) Soft Bullet Note Step-up Interest 0.00
(xvi) Class E Minimum Interest 492,684.17
(xvii) Supplemental Hedge Payment 86,400.00
(xviii) Class B Supplemental Principal 0.00
(xix) Class A Supplemental Principal 14,599,965.72
(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 241,091,646.78
Less Collection Account Top-Ups ((iii) and (x)above) (181,835,666.00)
----------------
59,255,980.78
================
(iv) PAYMENT ON THE CERTIFICATES
---------------------------
(a) FLOATING RATE CERTIFICATES A-1 A-2 A-3 A-4
--------------------------
Applicable LIBOR 5.65625% 5.65625% 5.65625% 5.65625%
Applicable Margin 0.25000% 0.32000% 0.47000% 0.62000%
Applicable Interest Rate 5.90625% 5.97625% 6.12625% 6.27625%
Interest Amount Payable 4,183,593.75 3,735,156.25 2,552,604.17 1,046,041.67
Step Up Interest Amount 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
Minimum Principal Payment Amount 0.00 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 0.00 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
(Oct 15, 1997) 850,000,000.00 750,000,000.00 500,000,000.00 200,000,000.00
============== ============== ============== ==============
A-5 Class B
Applicable LIBOR 5.65625% 5.65625%
Applicable Margin 0.35000% 1.10000%
Applicable Interest Rate 6.00625% 6.75625%
Interest Amount Payable 1,335,563.69 1,986,991.11
Step Up Interest Amount 0.00 0.00
Opening Principal Balance 266,834,784.64 352,916,090.06
Minimum Principal Payment Amount 0.00 1,151,838.78
Adjusted Principal Payment Amount 0.00
Supplemental Principal Payment Amount 14,599,965.72 0.00
Total Principal Distribution Amount 14,599,965.72 1,151,838.78
Redemption Amount
- amount allocable to principal 0.00 0.00
- premium allocable to premium 0.00 0.00
-------------- --------------
Outstanding Principal Balance
(Oct 15, 1997) 252,234,818.92 351,764,251.28
============== ==============
(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 (Oct 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)
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A-1 A-2 A-3 A-4
Applicable LIBOR 5.62500% 5.62500% 5.62500% 5.62500%
Applicable Margin 0.25000% 0.32000% 0.47000% 0.62000%
Applicable Interest Rate 5.87500% 5.94500% 6.09500% 6.24500%
A-5 Class B
Applicable LIBOR 5.62500% 5.62500%
Applicable Margin 0.35000% 1.10000%
Applicable Interest Rate 5.97500% 6.72500%
(vi) CURRENT PERIOD PAYMENTS (Per $100,000 Initial Outstanding Principal Balance of Certificates)
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(a) FLOATING RATE CERTIFICATES
--------------------------
A-1 A-2 A-3 A-4
Opening Principal Amount 8,500.00 7,500.00 5,000.00 2,000.00
Total Principal Payments 0.00 0.00 0.00 0.00
-----------------------------------------------------------
Closing Outstanding Principal Balance 8,500.00 7,500.00 5,000.00 2,000.00
Total Interest 41.84 37.35 25.53 10.46
Total Premium 0.00 0.00 0.00 0.00
A-5 Class B
Opening Principal Amount 2,668.35 3,529.16
Total Principal Payments 146.00 11.52
---------------------------
Closing Outstanding Principal Balance 2,522.35 3,517.64
Total Interest 13.36 19.87
Total Premium 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