AIRPLANES Group
Report to Certificateholders
All numbers in US$ unless otherwise stated
Payment Date: 15 April, 1998.
Calculation Date: 7 April, 1998.
(i) ACCOUNT ACTIVITY SUMMARY (Between Calculation Dates)
Balance on
Prior Balance Deposits Withdrawals Calculation Date
------------- -------- ----------- ----------------
10-Mar-98 7-Apr-98
Lessee Funded Account 0.00 0.00 (0.00) 0.00
Expense Account (note ii) 25,783,230.96 10,958,901.47 (29,140,542.17) 7,601,590.26
-------------- ------------- -------------- --------------
Collection Account (note iii) 220,480,880.69 40,503,715.31 (46,275,362.69) 214,709,233.31
- Miscellaneous Reserve 40,000,000.00 40,000,000.00
- Maintenance Reserve 80,000,000.00 80,000,000.00
- Security Deposit 54,406,045.00 54,205,518.00
- Other Collections 46,074,835.69 40,503,715.31
-------------- ------------- -------------- --------------
Total 246,264,111.65 51,462,616.78 (75,415,904.86) 222,310,823.57
============== ============= ============== ==============
(ii) ANALYSIS OF EXPENSE ACCOUNT ACTIVITY
Balance on preceding Calculation
Date (Mar 10,1998) 25,783,230.96
Transfer from Collection Account
(previous Payment Date) 10,889,344.08
Interest Earned during period 69,557.39
Payments during period between prior
Calculation Date and the relevant
Calculation Date:
- Payments on previous Payment Date (17,235,977.12)
- Other payments (11,904,565.05)
-----------------
Balance on relevant Calculation
Date (Apr 07, 1998) 7,601,590.26
(iii)ANALYSIS OF COLLECTION ACCOUNT ACTIVITY
Balance on preceding Calculation Date
(Mar 10, 1998) 220,480,880.69
Collections during period 40,490,610.94
Swap receipts (previous Payment Date) 13,104.37
Transfer to Expense Account (previous
Payment Date) (10,889,344.08)
Net transfer to Lessee Funded Accounts
Aggregate Certificate Payments (previous
Payment Date) (34,275,362.69)
Swap payments (previous Payment Date) (1,110,655.92)
-----------------
Balance on relevant Calculation Date
(Apr 07, 1998) 214,709,233.31
(iii)ANALYSIS OF COLLECTION ACCOUNT ACTIVITY (Cont'd)
ANALYSIS OF CURRENT PAYMENT DATE DISTRIBUTIONS
Priority of Payments
(i) Required Expense Amount 15,247,744.44
(ii) a) Class A Interest 12,053,920.65
b) Swap Payments 394,845.82
(iii) First Collection Account Top-up 120,000,000.00
(iv) Minimum Hedge Payment 229,500.00
(v) Class A Minimum Principal 0.00
(vi) Class B Interest 1,807,864.58
(vii) Class B Minimum Principal 1,077,584.80
(viii) Class C Interest 2,546,875.00
(ix) Class D Interest 3,625,000.00
(x) Second Collection Account Top-up 54,422,465.00
(xi) Class A Principal Adjustment Amount 2,757,568.28
(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 229,500.00
(xviii) Class B Supplemental Principal 0.00
(xix) Class A Supplemental Principal 7,425,270.83
(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 222,310,823.57
Less Collection Account Top-Ups ((iii) and (x)above) (174,422,465.00)
----------------
47,888,358.57
================
(iv) PAYMENT ON THE CERTIFICATES
(a) FLOATING RATE CERTIFICATES A-4 A-5 A-6 A-7 A-8 Class B
Applicable LIBOR 5.68750% 5.68750% 5.68750% 5.68750% 5.68750% 5.68750%
Applicable Margin 0.62000% 0.35000% 0.34000% 0.26000% 0.37500% 0.75000%
Applicable Interest Rate 6.30750% 6.03750% 6.02750% 5.94750% 6.06250% 6.43750%
Interest Amount Payable 1,051,250.00 470,795.65 4,269,479.17 2,725,937.50 3,536,458.33 1,807,864.58
Step Up Interest Amount 0.00 0.00 0.00 0.00 0.00 0.00
Opening Principal Balance 200,000,000.00 93,574,290.28 850,000,000.00 550,000,000.00 700,000,000.00 337,000,000.00
Minimum Principal Payment
Amount 0.00 0.00 0.00 0.00 0.00 1,077,584.80
Adjusted Principal Payment
Amount 0.00 2,757,568.28 0.00 0.00 0.00 0.00
Supplemental Principal
Payment Amount 0.00 7,425,270.83 0.00 0.00 0.00 0.00
Total Principal
Distribution
Amount 0.00 10,182,839.11 0.00 0.00 0.00 1,077,584.80
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
(April 15,1998) 200,000,000.00 83,391,451.17 850,000,000.00 550,000,000.00 700,000,000.00 335,922,415.20
(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
Actual Pool Factor 1.0000000 1.0000000
Outstanding Principal Balance (April 15, 1998) 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-4 A-5 A-6 A-7 A-8 Class B
--- --- --- --- --- -------
Applicable LIBOR 5.65625% 5.65625% 5.65625% 5.65625% 5.65625% 5.65625%
Applicable Margin 0.62000% 0.35000% 0.34000% 0.26000% 0.37500% 0.75000%
Applicable Interest Rate 6.27625% 6.00625% 5.99625% 5.91625% 6.03125% 6.40625%
(vi) CURRENT PERIOD PAYMENTS (Per $100,000 Initial Outstanding Principal Balance
of Certificates)
(a) FLOATING RATE CERTIFICATES
A-4 A-5 A-6 A-7 A-8 Class B
Opening Principal Amount 2,000.00 935.74 8,500.00 5,500.00 7,000.00 3,370.00
Total Principal Payments 0.00 101.83 0.00 0.00 0.00 10.78
-------- ------ -------- -------- -------- --------
Closing Outstanding
Principal Balance 2,000.00 833.91 8,500.00 5,500.00 7,000.00 3,359.22
Total Interest 10.51 4.71 42.69 27.26 35.36 18.08
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