EX-99.A 2 ex99a.htm

Exhibit A

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

          Payment Date: 16 May 2005.
          Calculation Date: 10 May 2005.

(i) ACCOUNT ACTIVITY SUMMARY (Between Calculation Dates)
Prior Balance   Deposits   Withdrawals Balance on
Calculation Date
 
11-Apr-05     10-May-05
  Lessee Funded Account 0.00   0.00   (0.00 ) 0.00
  Expense Account (note ii) 2,511,972.45   7,497,284.18   (8,160,223.70 ) 1,849,032.93
  Collection Account (note iii) 87,531,993.52   19,761,469.64   (27,531,993.52 ) 79,761,469.64
 
  - Miscellaneous Reserve -     -
  - Maintenance Reserve 60,000,000.00     60,000,000.00
  - Security Deposit -     -
  - Other Collections (net of interim withdrawals) 27,531,993.52     19,761,469.64
 
  Total 90,043,965.97   27,258,753.82   (35,692,217.22 ) 81,610,502.57

(ii) ANALYSIS OF EXPENSE ACCOUNT ACTIVITY
 
           
  Balance on preceding Calculation Date (April 11, 2005) 2,511,972.45      
  Transfer from Collection Account (previous Payment Date) 7,488,027.55
  Transfer from Collection Account (interim deposit) 0.00
  Interest Earned during period 9,256.63
  Payments during period between prior Calculation
    Date and the relevant Calculation Date:
  - Payments on previous Payment Date (2,765,685.34 )          
  - Other payments (5,394,538.36 )          
           
  Balance on relevant Calculation Date (May 10, 2005) 1,849,032.93
 
           

(iii) ANALYSIS OF COLLECTION ACCOUNT ACTIVITY
           
  Balance on preceding Calculation Date (April 11, 2005) 87,531,993.52
  Collections during period 19,714,646.73
  Swap receipts (previous Payment Date) 46,822.91
  Transfer to Expense Account (previous Payment Date) (7,488,027.55 )          
  Transfer to Expense Account (interim withdrawal) 0.00
  Net transfer to Lessee Funded Accounts 0.00
  Aggregate Certificate Payments (previous Payment Date) (18,757,715.70 )          
  Swap payments (previous Payment Date) (1,286,250.27 )          
           
  Balance on relevant Calculation Date (May 10, 2005) 79,761,469.64
   
           


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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 1:
The class A minimum principal amount arrears are $160,030,258.38 following the payment of $6,461,569.05 on May 16, 2005.
(ii)   a) Class A Interest   3,983,637.07
  b) Swap Payments   1,165,296.45
(iii)   First Collection Account Top-up   60,000,000.00
(iv)   Minimum Hedge Payment   0.00
(v)   Class A Minimum Principal (Note 1)   6,461,569.05
(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   81,610,502.57
  Less Collection Account Top-Ups ((iii) and (x) above)   (60,000,000.00 )  
   
   
    21,610,502.57
   
 


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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 2:
       Applicable LIBOR   2.95375 % 2.95375 % 2.95375 % 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 May 16, 2005 was $7,506,893.40. Interest on unpaid step-up interest (also payable at point (xv) in the Priority of Payments) accrued and unpaid at May 16, 2005 was $223,546.60.
       Applicable Margin   0.37500 % 0.55000 % 0.75000 %
       Applicable Interest Rate   3.32875 % 3.50375 % 3.70375 %
       Interest Amount Payable  
       - Charge in current period on outstanding principal balance   1,720,798.53 2,262,838.54 723,485.57
       - Charge in current period on interest arrears   N/A N/A 25,200.51
       - Accrued & unpaid interest from prior periods   N/A N/A 7,901,480.60
 
  1,720,798.53 2,262,838.54 8,650,166.68
   
       Interest Amount Payment   1,720,798.53 2,262,838.54 0.00
           
       Step Up Interest Amount Payable (Note 2)   283,029.14 N/A N/A
           
       Opening Principal Balance   600,329,455.85 750,000,000.00 226,844,897.35
       Minimum Principal Payment Amount   6,461,569.05 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   6,461,569.05 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 (May 16, 2005)   593,867,886.80 750,000,000.00 226,844,897.35
 
   


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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   289,750.14 593,469.80
- Accrued & unpaid interest from prior periods   42,662,596.62 65,486,323.15
 
  45,328,326.45 69,660,205.45
 
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 (May 16, 2005)   349,837,500.00 395,080,000.00
 
 
       
Table of rescheduled Pool Factors
 in the event of a partial redemption		   n/a n/a
     

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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   3.09000 % 3.09000 % 3.09000 %
  Applicable Margin   0.37500 % 0.55000 % 0.75000 %
  Applicable Interest Rate   3.46500 % 3.64000 % 3.84000 %
 

(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   6,003.29 7,500.00   2,268.45  
Total Principal Payments   (64.62 ) 0.00   0.00  
 
Closing Outstanding Principal Balance   5,938.68 7,500.00   2,268.45  
Total Interest Payment   17.21 22.63   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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