Exhibit A
AIRPLANES GROUP
Report to Certificateholders - All numbers in US$ unless otherwise stated
Payment Date: 17 August, 1998.
Calculation Date: 11 August, 1998.
(i) ACCOUNT ACTIVITY SUMMARY (Between Calculation Dates)
Prior Balance Deposits Withdrawals Balance on
Calculation Date
- ------------------------------------------------------- ------------------ ------------------ -----------------
9-Jul-98 11-Aug-98
Lessee Funded 0.00 0.00 (0.00) 0.00
Account
Expense Account 2,826,284.75 22,188,047.96 (21,191,256.87) 3,823,075.84
(note ii)
Collection Account (note iii) 224,346,185.16 48,691,260.64 (61,598,738.16) 211,438,707.64
-------------- ------------- ------------- --------------
- Miscellaneous Reserve 40,000,000.00 40,000,000.00
- Maintenance Reserve 80,000,000.00 80,000,000.00
- Security Deposit 53,486,465.00 52,747,447.00
- Other Collections (net of interim
withdrawals) 50,859,720.16 38,691,260.64
-------------- ------------- ------------- --------------
Total 227,172,469.91 70,879,308.60 (82,789,995.03) 215,261,783.48
(ii) ANALYSIS OF EXPENSE ACCOUNT ACTIVITY
------------------------------------------------------------------------
Balance on preceding Calculation Date (Jul 09,1998) 2,826,284.75
Transfer from Collection Account (previous
Payment Date) 12,173,715.25
Transfer from Collection Account (interim
deposit) 10,000,000.00 * Note 1
Interest Earned during period 14,332.71
Payments during period between prior Calculation
Date and the relevant Calculation Date:
- Payments on previous Payment Date (2,528,379.15)
- Other payments (18,662,877.72)
-------------
Balance on relevant Calculation Date
(Aug 11, 1998) 3,823,075.84
(iii) ANALYSIS OF COLLECTION ACCOUNT ACTIVITY
------------------------------------------------------------------------
Balance on preceding Calculation Date (Jul 09, 1998) 224,346,185.16
Collections during period 48,649,612.72
Swap receipts (previous Payment Date) 41,647.92
Transfer to Expense Account (previous Payment Date) (12,173,715.25)
Transfer to Expense Account (interim withdrawal) (10,000,000.00) * Note 1
Net transfer to Lessee Funded Accounts Note 1:
Aggregate Certificate Payments (previous Payment Date) (38,295,598.29) Additional amount transferred since previous
Calculation Date to cover unanticipated expense
Swap payments (previous Payment Date) (1,129,424.62) payments.
-------------
Balance on relevant Calculation Date 211,438,707.64
(Aug 11, 1998)
AIRPLANES GROUP
Report to Certificateholders
All numbers in US$ unless otherwise stated
(iii)ANALYSIS OF COLLECTION ACCOUNT ACTIVITY (Cont'd)
ANALYSIS OF CURRENT PAYMENT DATE DISTRIBUTIONS
----------------------------------------------
Priority of Payments
(i) Required Expense Amount 13,588,579.74
(ii) a) Class A Interest 12,421,717.10
b) Swap Payments 187,496.10
(iii) First Collection Account Top-up 120,000,000.00
(iv) Minimum Hedge Payment 23,500.00
(v) Class A Minimum Principal 0.00
(vi) Class B Interest 1,892,380.12
(vii) Class B Minimum Principal 1,196,180.30
(viii) Class C Interest 2,528,537.50
(ix) Class D Interest 3,625,000.00
(x) Second Collection Account Top-up 52,153,191.00
(xi) Class A Principal Adjustment Amount 0.00
(xii) Class C Scheduled Principal 937,500.00
(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 23,500.00
(xviii) Class B Supplemental Principal 0.00
(xix) Class A Supplemental Principal 6,191,517.45
(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 215,261,783.48
Less Collection Account Top-Ups ((iii) and (x)above) (172,153,191.00)
--------------
43,108,592.48
==============
AIRPLANES GROUP
Report to Certificateholders
All numbers in US$ unless otherwise stated
(iv) PAYMENT ON THE CERTIFICATES
(a) FLOATING RATE CERTIFICATES
A-4 A-6 A-7 A-8 Class B
Applicable LIBOR 5.65625% 5.65625% 5.65625% 5.65625% 5.65625%
Applicable Margin 0.62000% 0.34000% 0.26000% 0.37500% 0.75000%
Applicable Interest Rate 6.27625% 5.99625% 5.91625% 6.03125% 6.40625%
Interest Amount Payable 1,150,645.83 4,418,243.15 2,982,776.04 3,870,052.08 1,892,380.12
Step Up Interest Amount 0.00 0.00 0.00 0.00 0.00
Opening Principal Balance 200,000,000.00 803,819,323.81 550,000,000.00 700,000,000.00 322,250,095.81
Minimum Principal Payment Amount 0.00 0.00 0.00 0.00 1,196,180.30
Adjusted Principal Payment Amount 0.00 0.00 0.00 0.00 0.00
Supplemental Principal Payment Amount 0.00 6,191,517.45 0.00 0.00 0.00
Total Principal Distribution Amount 0.00 6,191,517.45 0.00 0.00 1,196,180.30
Redemption Amount
- amount allocable to principal 0.00 0.00 0.00 0.00 0.00
- premium allocable to premium 0.00 0.00 0.00 0.00 0.00
-------------- -------------- -------------- -------------- --------------
Outstanding Principal Balance (Aug 17,1998) 200,000,000.00 797,627,806.36 550,000,000.00 700,000,000.00 321,053,915.51
(b) FIXED RATE CERTIFICATES
Class C Class D
Applicable Interest Rate 8.1500% 10.8750%
Interest Amount Payable 2,528,537.50 3,625,000.00
Opening Principal Balance 372,300,000.00 400,000,000.00
Scheduled Principal Payment Amount 937,500.00 0.00
Redemption Amount
- amount allocable to principal 0.00 0.00
- amount allocable to premium 0.00 0.00
Actual Pool Factor 0.9903000 1.0000000
-------------- --------------
Outstanding Principal Balance (Aug 17, 1998) 371,362,500.00 400,000,000.00
Table of rescheduled Pool Factors n/a n/a
in the event of a partial redemption
AIRPLANES GROUP
Report to Certificateholders
All numbers in US$ unless otherwise stated
(v) FLOATING RATE CERTIFICATE INFORMATION FOR NEXT INTEREST ACCRUAL PERIOD
(Aggregate Amounts)
A-4 A-6 A-7 A-8 Class B
Applicable LIBOR 5.64063% 5.64063% 5.64063% 5.64063% 5.64063%
Applicable Margin 0.62000% 0.34000% 0.26000% 0.37500% 0.75000%
Applicable Interest Rate 6.26063% 5.98063% 5.90063% 6.01563% 6.39063%
(vi) CURRENT PERIOD PAYMENTS (Per $100,000 Initial Outstanding Principal Balance
of Certificates)
(a) FLOATING RATE CERTIFICATES
A-4 A-6 A-7 A-8 Class B
Opening Principal Amount 2,000.00 8,038.19 5,500.00 7,000.00 3,222.50
Total Principal Payments 0.00 61.92 0.00 0.00 11.96
-------- -------- -------- -------- --------
Closing Outstanding
Principal Balance 2,000.00 7,976.28 5,500.00 7,000.00 3,210.54
Total Interest 11.51 44.18 29.83 38.70 18.92
Total Premium 0.00 0.00 0.00 0.00 0.00
(b) FIXED RATE
CERTIFICATES
Class C Class D
Opening Principal Amount 3,723.00 4,000.00
Total Principal Payments 9.38 0.00
-------- --------
Outstanding Principal 3,713.63 4,000.00
Balance
Total Interest 25.29 36.25
Total Premium 0.00 0.00