AIRPLANES GROUP Exhibit A
Report to Certificateholders - All numbers in US$ unless otherwise stated
Payment Date: 15 May, 1998.
Calculation Date: 11 May, 1998.
(i) ACCOUNT ACTIVITY SUMMARY (Between Calculation Dates)
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Prior Balance Deposits Withdrawals Balance on Calculation Date
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7-Apr-98 11-May-98
Lessee Funded Account 0.00 0.00 (0.00) 0.00
Expense Account (note ii) 7,601,590.26 10,668,487.26 (15,364,397.93) 2,905,679.59
Collection Account (note iii) 214,709,233.31 142,028,589.57 (43,286,768.31) 313,451,054.57
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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 54,205,518.00 51,422,465.00
- Other Collections 40,503,715.31 142,028,589.57
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Total 222,310,823.57 152,697,076.83 (58,651,166.24) 316,356,734.16
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(ii) ANALYSIS OF EXPENSE ACCOUNT ACTIVITY
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Balance on preceding Calculation
Date (Apr 07,1998) 7,601,590.26
Transfer from Collection Account 10,646,154.18
Interest Earned during period 22,333.08
Payments during period between
prior Calculation Date and the
relevant Calculation Date:
- Payments on previous Payment Date (3,900,883.40)
- Other payments (11,463,514.53)
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Balance on relevant Calculation Date
(May 11, 1998) 2,905,679.59
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(iii) ANALYSIS OF COLLECTION ACCOUNT ACTIVITY
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Balance on preceding Calculation
Date (Apr 07, 1998) 214,709,233.31
Collections during period 141,985,452.56
Swap receipts (previous Payment Date) 43,137.01
Transfer to Expense Account (10,646,154.18)
Net transfer to Lessee Funded
Accounts
Aggregate Certificate Payments
(previous Payment Date) (31,786,768.31)
Swap payments (previous Payment Date) (853,845.82)
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Balance on relevant Calculation Date
(May 11, 1998) 313,451,054.57
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(iii) ANALYSIS OF COLLECTION ACCOUNT ACTIVITY (Cont'd)
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ANALYSIS OF CURRENT PAYMENT DATE DISTRIBUTIONS
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Priority of Payments
(i) Required Expense Amount 17,478,631.72
(ii) a) Class A Interest 11,940,620.76
b) Swap Payments 408,047.87
(iii) First Collection Account Top-up 120,000,000.00
(iv) Minimum Hedge Payment 9,500.00
(v) Class A Minimum Principal 0.00
(vi) Class B Interest 1,793,335.81
(vii) Class B Minimum Principal 9,152,794.80
(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 60,595,329.97
(xii) Class C Scheduled Principal 900,000.00
(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 9,500.00
(xviii) Class B Supplemental Principal 0.00
(xix) Class A Supplemental Principal 32,981,949.06
(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
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Total Payments with respect to Payment Date 316,356,734.16
Less Collection Account Top-Ups ((iii) and (x)above) (174,422,465.00)
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141,934,269.16
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NOTE:
Collections includes proceeds from the sale of six
DC8-71F aircraft to Emery.
(iv) PAYMENT ON THE CERTIFICATES
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(a) FLOATING RATE CERTIFICATES A-4 A-5 A-6 A-7
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Applicable LIBOR 5.65625% 5.65625% 5.65625% 5.65625%
Applicable Margin 0.62000% 0.35000% 0.34000% 0.26000%
Applicable Interest Rate 6.27625% 6.00625% 5.99625% 5.91625%
Interest Amount Payable 1,046,041.67 417,391.59 4,247,343.75 2,711,614.58
Step Up Interest Amount 0.00 0.00 0.00 0.00
Opening Principal Balance 200,000,000.00 83,391,451.17 850,000,000.00 550,000,000.00
Minimum Principal Payment Amount 0.00 0.00 0.00 0.00
Adjusted Principal Payment Amount 0.00 60,595,329.97 0.00 0.00
Supplemental Principal Payment Amount 0.00 22,796,121.20 10,185,827.86 0.00
Total Principal Distribution Amount 0.00 83,391,451.17 10,185,827.86 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
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Outstanding Principal Balance (May 15,1998) 200,000,000.00 0.00 839,814,172.14 550,000,000.00
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A-8 Class B
Applicable LIBOR 5.65625% 5.65625%
Applicable Margin 0.37500% 0.75000%
Applicable Interest Rate 6.03125% 6.40625%
Interest Amount Payable 3,518,229.17 1,793,335.81
Step Up Interest Amount 0.00 0.00
Opening Principal Balance 700,000,000.00 335,922,415.20
Minimum Principal Payment Amount 0.00 9,152,794.80
Adjusted Principal Payment Amount 0.00 0.00
Supplemental Principal Payment Amount 0.00 0.00
Total Principal Distribution Amount 0.00 9,152,794.80
Redemption Amount
- amount allocable to principal 0.00 0.00
- premium allocable to premium 0.00 0.00
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Outstanding Principal Balance (May 15,1998) 700,000,000.00 326,769,620.40
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(b) FIXED RATE CERTIFICATES Class C Class D
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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 900,000.00 0.00
Redemption Amount
- amount allocable to principal 0.00 0.00
- amount allocable to premium 0.00 0.00
Actual Pool Factor 0.9976000 1.0000000
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Outstanding Principal Balance (May 15, 1998) 374,100,000.00 400,000,000.00
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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-4 A-5 A-6 A-7
Applicable LIBOR 5.65625% 5.65625% 5.65625% 5.65625%
Applicable Margin 0.62000% 0.35000% 0.34000% 0.26000%
Applicable Interest Rate 6.27625% 6.00625% 5.99625% 5.91625%
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A-8 Class B
Applicable LIBOR 5.65625% 5.65625%
Applicable Margin 0.37500% 0.75000%
Applicable Interest Rate 6.03125% 6.40625%
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(vi) CURRENT PERIOD PAYMENTS (Per $100,000 Initial Outstanding Principal Balance of Certificates)
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(a) FLOATING RATE CERTIFICATES
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A-4 A-5 A-6 A-7
Opening Principal Amount 2,000.00 833.91 8,500.00 5,500.00
Total Principal Payments 0.00 833.91 101.86 0.00
Closing Outstanding Principal Balance 2,000.00 0.00 8,398.14 5,500.00
Total Interest 10.46 4.17 42.47 27.12
Total Premium 0.00 0.00 0.00 0.00
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A-8 Class B
Opening Principal Amount 7,000.00 3,359.22
Total Principal Payments 0.00 91.53
Closing Outstanding Principal Balance 7,000.00 3,267.70
Total Interest 35.18 17.93
Total Premium 0.00 0.00
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(b) FIXED RATE CERTIFICATES
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Class C Class D
Opening Principal Amount 3,750.00 4,000.00
Total Principal Payments 9.00 0.00
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Outstanding Principal Balance 3,741.00 4,000.00
Total Interest 25.47 36.25
Total Premium 0.00 0.00
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