EX-99.A 2 ex99a.htm airplanes
Exhibit A

AIRPLANES Group
Report to Certificateholders
All numbers in US$ unless otherwise stated

          Payment Date: 15 March 2005.
          Calculation Date: 9 March 2005.

(i) ACCOUNT ACTIVITY SUMMARY (Between Calculation Dates
   
Prior Balance Deposits Withdrawals Balance on Calculation Date
   
9-Feb-05 9-Mar-05
    Lessee Funded Account 0.00 0.00 (0.00) 0.00
    Expense Account (note ii) 2,006,517.74 8,995,734.36 (10,520,289.02) 481,963.08
    Collection Account (note iii) 75,614,023.37 25,035,791.10 (16,614,023.73) 84,035,791.10
   
    - Miscellaneous Reserve - -
    - Maintenance Reserve 60,000,000.00 60,000,000.00
    - Security Deposit - -
    - Other Collections (net of interim withdrawals) 15,614,023.37 24,035,791.10
   
    Total 77,620,541.11 34,031,525.46 (27,134,312.39) 84,517,754.18
   
             
(ii) ANALYSIS OF EXPENSE ACCOUNT ACTIVITY
   
     
    Balance on preceding Calculation Date (February 9, 2005) 2,006,517.74      
    Transfer from Collection Account (previous Payment Date) 7,993,482.26      
    Transfer from Collection Account (interim deposit) 1,000,000.00      
    Interest Earned during period 2,252.10      
     
    Payments during period between prior Calculation Date and the relevant Calculation Date:
    - Payments on previous Payment Date (2,484,654.75)      
    - Other payments (8,035,634.27)      
     
    Balance on relevant Calculation Date (March 9, 2005) 481,963.08      
   
     

(iii)  ANALYSIS OF COLLECTION ACCOUNT ACTIVITY
   
    Balance on preceding Calculation Date (February 9, 2005) 75,614,023.37 Note 1:
    Collections during period (Note 1) 25,034,274.44 "Collections during period"  include proceeds received from the sale of  
    Swap receipts (previous Payment Date) 1,516.66 one MD83 aircraft, two DC9-32 aircraft and one A300B4 -200 aircraft. 
    Transfer to Expense Account (previous Payment Date) (7,993,482.26)        
    Transfer to Expense Account (interim withdrawal) (1,000,000.00)        
    Net transfer to Lessee Funded Accounts 0.00
    Aggregate Certificate Payments (previous Payment Date) (5,997,134.15)        
    Swap payments (previous Payment Date) (1,623,406.96)        
       
    Balance on relevant Calculation Date (March 9, 2005) 84,035,791.10
   
       

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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 10,000,000.00 Note 2:
  (ii)   a) Class A Interest 3,273,235.61 The class A minimum principal amount arrears are
  b) Swap Payments 1,366,149.15 $145,109,758.33 following the payment of
  (iii)   First Collection Account Top-up 60,000,000.00 $9,878,369.42 on March 15, 2005.
  (iv)   Minimum Hedge Payment 0.00
  (v)   Class A Minimum Principal (Note 2) 9,878,369.42
  (vi)   Class B Interest 0.00
  (vii)   Class B Minimum Principal 0.00
  (viii)   Class C Interest 0.00
  (ix)   Class D Interest 0.00
  (x)   Second Collection Account Top-up 0.00
  (xi)   Class A Principal Adjustment Amount 0.00
  (xii)   Class C Scheduled Principal 0.00
  (xiii)   Class D Scheduled Principal 0.00
  (xiv)   Modification Payments 0.00
  (xv)   Soft Bullet Note Step-up Interest 0.00
  (xvi)   Class E Minimum Interest 0.00
  (xvii)   Supplemental Hedge Payment 0.00
  (xviii)   Class B Supplemental Principal 0.00
  (xix)   Class A Supplemental Principal 0.00
  (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 84,517,754.18
       Less Collection Account Top-Ups ((iii) and (x) above) (60,000,000.00)  
   
  24,517,754.18
   

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     AIRPLANES Group
Report to Certificateholders
All numbers in US$ unless otherwise stated

(iv)  PAYMENT ON THE CERTIFICATES          
   
    (a)  FLOATING RATE CERTIFICATES A-8 A-9 Class B   Note 3:
   
Step-up interest on Airplanes  Group's  subclass A-8 notes is payable at point (xv) in the Priority of Payments. To the extent that step-up interest is not paid, it will accrue in accordance with the terms of the subclass A-8 notes. Available  cashflows were not sufficient to allow payment of step-up interest on any payment day to date. Total step-up interest accrued and unpaid on Airplanes  Group's  subclass A-8 notes at March 15, 2005 was $6,983,527.60. Interest on unpaid step-up interest (also payable at point (xv) in the Priority of Payments)  accrued and unpaid at March 15, 2005 was $176,273.20.
         Applicable LIBOR 2.59000% 2.59000% 2.59000%  
         Applicable Margin 0.37500% 0.55000% 0.75000%  
         Applicable Interest Rate 2.96500% 3.14000% 3.34000%  
         Interest Amount Payable
         - Charge in current period on outstanding principal
                 balance 		1,441,568.94 1,831,666.67 589,292.63  
         - Charge in current period on interest arrears N/A N/A 17,087.33  
         - Accrued & unpaid interest from prior periods N/A N/A 6,577,671.89  
   
1,441,568.94 1,831,666.67 7,184,051.85    
   
         Interest Amount Payment 1,441,568.94 1,831,666.67 0.00    
               
         Step Up Interest Amount Payable (Note 3) 261,688.04 N/A N/A    
               
         Opening Principal Balance 625,108,187.74 750,000,000.00 226,844,897.35    
         Minimum Principal Payment Amount 9,878,369.42 0.00 0.00    
         Adjusted Principal Payment Amount 0.00 0.00 0.00    
         Supplemental Principal Payment Amount 0.00 0.00 0.00    
         Total Principal Distribution Amount 9,878,369.42 0.00 0.00    
         Redemption Amount
           - amount allocable to principal 0.00 0.00 0.00    
           - premium allocable to premium 0.00 0.00 0.00    
   
         Outstanding Principal Balance (March 15, 2005) 615,229,818.32 750,000,000.00 226,844,897.35    
   
   

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     AIRPLANES Group
Report to Certificateholders
All numbers in US$ unless otherwise stated

(iv)  PAYMENT ON THE CERTIFICATES

   
  (b) FIXED RATE CERTIFICATES Class C Class D
  Applicable Interest Rate 8.1500% 10.8750%  
  Interest Amount Payable
  - Charge in current period on outstanding principal balance 2,375,979.69 3,580,412.50
  - Charge in current period on interest arrears 253,906.21 518,834.29
  - Accrued & unpaid interest from prior periods 37,384,963.51 57,250,680.15
 
  40,014,849.41 61,349,926.94
 
  Interest Amount Payment 0.00 0.00
       
  Opening Principal Balance 349,837,500.00 395,080,000.00
  Scheduled Principal Payment Amount 0.00 0.00
  Redemption Amount 0.00 0.00
  - amount allocable to principal 0.00 0.00
  - amount allocable to premium 0.00 0.00
  Actual Pool Factor 0.9329000 0.9877000
 
  Outstanding Principal Balance (March 15, 2005) 349,837,500.00 395,080,000.00
 
Table of rescheduled Pool Factors n/a n/a
 in the event of a partial redemption

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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-8 A-9 Class B
  Applicable LIBOR 2.81000% 2.81000% 2.81000%
  Applicable Margin 0.37500% 0.55000% 0.75000%
  Applicable Interest Rate 3.18500% 3.36000% 3.56000%
         
(vi)  CURRENT PERIOD PAYMENTS (Per $100,000 Initial Outstanding Principal Balance of Certificates)    
(a)  FLOATING RATE CERTIFICATES
  A-8 A-9 Class B
  Opening Principal Amount 6,251.08 7,500.00 2,268.45
  Total Principal Payments (98.78 0.00 0.00
  Closing Outstanding Principal Balance 6,152.30 7,500.00 2,268.45
  Total Interest Payment 14.42 18.32 0.00
  Total Premium 0.00 0.00 0.00
 
(b) FIXED RATE CERTIFICATES
  Class C Class D
  Opening Principal Amount 3,498.38 3,950.80
  Total Principal Payments 0.00 0.00
  Outstanding Principal Balance 3,498.38 3,950.80
  Total Interest Payment 0.00 0.00
  Total Premium 0.00 0.00

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