Exhibit 99.A
AIRPLANES Group
Report to Certificateholders
All numbers in US$ unless otherwise stated
Payment Date: 15 December, 1998.
Calculation Date: 9 December, 1998.
(i) ACCOUNT ACTIVITY SUMMARY (Between Calculation Dates)
-------------------------------------------------------------------------------------------------------------------------
Prior Balance Deposits Withdrawals Balance on
Calculation Date
-------------------------------------------------------------------------------------------------------------------------
9-Nov-98 9-Dec-98
Lessee Funded Account 0.00 0.00 (0.00) 0.00
Expense Account (note ii) 765,682.46 16,381,148.37 (13,000,146.10) 4,146,684.73
Collection Account (note iii) 216,099,064.32 41,531,765.87 (45,254,560.32) 212,376,269.87
-------------------------------------------------------------------------------------------------------------------------
- Miscellaneous Reserve 40,000,000.00 40,000,000.00
- Maintenance Reserve 80,000,000.00 80,000,000.00
- Security Deposit 52,138,162.00 50,844,504.00
- Other Collections (net of interim withdrawals) 43,960,902.32 41,531,765.87
-------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------
Total 216,864,746.78 57,912,914.24 (58,254,706.42) 216,522,954.60
-------------------------------------------------------------------------------------------------------------------------
(ii) ANALYSIS OF EXPENSE ACCOUNT ACTIVITY
----------------------------------------------------------------------
Balance on preceding Calculation Date (Nov 09,1998) 765,682.46
Transfer from Collection Account (previous Payment Date) 16,362,212.28
Transfer from Collection Account (interim deposit) 0.00
Interest Earned during period 18,936.09
Payments during period between prior
Calculation Date and the relevant Calculation Date:
- Payments on previous Payment Date (2,682,467.23)
- Other payments (10,317,678.87)
-----------------
Balance on relevant Calculation Date (Dec 09, 1998) 4,146,684.73
----------------------------------------------------------------------
(iii) ANALYSIS OF COLLECTION ACCOUNT ACTIVITY
----------------------------------------------------------------------
Balance on preceding Calculation Date (Nov 09, 1998) 216,099,064.32
Collections during period 41,470,171.08
Swap receipts (previous Payment Date) 61,594.79
Transfer to Expense Account (previous Payment Date) (16,362,212.28)
Transfer to Expense Account (interim withdrawal)
Net transfer to Lessee Funded Accounts
Aggregate Certificate Payments (previous Payment Date) (28,254,560.32)
Swap payments (previous Payment Date) (637,787.72)
---------------
Balance on relevant Calculation Date (Dec 09, 1998) 212,376,269.87
----------------------------------------------------------------------
-5-
(iii)ANALYSIS OF COLLECTION ACCOUNT ACTIVITY (Cont'd)
================================================================================
ANALYSIS OF CURRENT PAYMENT DATE DISTRIBUTIONS
Priority of Payments
(i)Required Expense Amount 17,694,315.27
(ii)a) Class A Interest 10,081,195.00
b) Swap Payments 952,369.46
(iii)First Collection Account Top-up 120,000,000.00
(iv)Minimum Hedge Payment 0.00
(v)Class A Minimum Principal 0.00
(vi)Class B Interest 1,541,474.71
(vii)Class B Minimum Principal 1,061,882.83
(viii)Class C Interest 2,502,814.06
(ix)Class D Interest 3,625,000.00
(x)Second Collection Account Top-up 50,404,232.00
(xi)Class A Principal Adjustment Amount 0.00
(xii)Class C Scheduled Principal 975,000.00
(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 0.00
(xviii)Class B Supplemental Principal 0.00
(xix)Class A Supplemental Principal 7,191,987.10
(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 216,522,954.60
Less Collection Account Top-Ups ((iii) and (x)above) (170,404,232.00)
===================
46,118,722.60
===================
================================================================================
-6-
(iv) PAYMENT ON THE CERTIFICATES
- ------------------------------------------------------------------------------------------------------------------------------------
(a) FLOATING RATE CERTIFICATES A-4 A-6 A-7 A-8 Class B
--------------------------
Applicable LIBOR 5.27781% 5.27781% 5.27781% 5.27781% 5.27781%
Applicable Margin 0.62000% 0.34000% 0.26000% 0.37500% 0.75000%
Applicable Interest Rate 5.89781% 5.61781% 5.53781% 5.65281% 6.02781%
Interest Amount Payable 950,202.72 3,489,878.04 2,453,557.49 3,187,556.75 1,541,474.71
Step Up Interest Amount 0.00 0.00 0.00 0.00 0.00
Opening Principal Balance 200,000,000.00 771,165,702.88 550,000,000.00 700,000,000.00 317,454,401.48
Minimum Principal Payment Amount 0.00 0.00 0.00 0.00 1,061,882.83
Adjusted Principal Payment Amount 0.00 0.00 0.00 0.00 0.00
Supplemental Principal Payment Amount 0.00 7,191,987.10 0.00 0.00 0.00
Total Principal Distribution Amount 0.00 7,191,987.10 0.00 0.00 1,061,882.83
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 (Dec 15,1998) 200,000,000.00 763,973,715.78 550,000,000.00 700,000,000.00 316,392,518.65
- ------------------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------
(b) FIXED RATE CERTIFICATES Class C Class D
Applicable Interest Rate 8.1500% 10.8750%
Interest Amount Payable 2,502,814.06 3,625,000.00
Opening Principal Balance 368,512,500.00 400,000,000.00
Scheduled Principal Payment Amount 975,000.00 0.00
Redemption Amount
- amount allocable to principal 0.00 0.00
- amount allocable to premium 0.00 0.00
Actual Pool Factor 0.9801000 1.0000000
-----------------------------------
Outstanding Principal Balance (Dec 15, 1998) 367,537,500.00 400,000,000.00
- -------------------------------------------------------------------------------------
Table of rescheduled Pool Factors n/a n/a
in the event of a partial redemption
-7-
(v) FLOATING RATE CERTIFICATE INFORMATION FOR NEXT INTEREST ACCRUAL PERIOD
(Aggregate Amounts)
- --------------------------------------------------------------------------------------------------------
A-4 A-6 A-7 A-8 Class B
Applicable LIBOR 5.53547% 5.53547% 5.53547% 5.53547% 5.53547%
Applicable Margin 0.62000% 0.34000% 0.26000% 0.37500% 0.75000%
Applicable Interest Rate 6.15547% 5.87547% 5.79547% 5.91047% 6.28547%
- --------------------------------------------------------------------------------------------------------
(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 7,711.66 5,500.00 7,000.00 3,174.54
Total Principal Payments 0.00 71.92 0.00 0.00 10.62
-------------------------------------------------------------
Closing Outstanding Principal Balance 2,000.00 7,639.74 5,500.00 7,000.00 3,163.93
Total Interest 9.50 34.90 24.54 31.88 15.41
Total Premium 0.00 0.00 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------
(b) FIXED RATE CERTIFICATES
Class C Class D
Opening Principal Amount 3,685.13 4,000.00
Total Principal Payments 9.75 0.00
-----------------------------------------
Outstanding Principal Balance 3,675.38 4,000.00
Total Interest 25.03 36.25
Total Premium 0.00 0.00
- -----------------------------------------------------------------------
8