SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES AND
EXCHANGE ACT OF 1934
November 15, 1996
(Date of Earliest Event Reported)
AIRPLANES LIMITED AIRPLANES U.S. TRUST
(Exact Name of Registrants as Specified in Memorandum of
Association or Trust Agreement)
Jersey, Channel Islands Delaware
(State or Other Jurisdiction of Incorporation or
Organization)
33-99970-01 13-3521640
(Commission File (IRS Employer
Number) Identification
No.)
Aiplanes Limited Airplanes U.S. Trust
22 Grenville Street 1100 North Market Street
St. Helier Rodney Square North
Jersey, JE4 8PX Wilmington, Delaware
Channel Islands 19890-0001
(011 44 1534 609 000) (1-302-651-1000)
(Addresses and Telephone Numbers, Including Area Codes, of
Registrants' Principal Executive Offices)
Item 5. Other Events
Attached hereto as Exhibit A is a copy of a Report to
Certificateholders dated November 15, 1996, sent to each holder of a Pass
Through Certificate issued by Airplanes Pass Through Trust.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, each of the registrants has duly caused this report to be signed on its
behalf by the undersigned hereto duly authorized.
AIRPLANES LIMITED
Date: November 15, 1996 /s/ Roy M. Dantzic*
-------------------------------
Director and Officer
Date: November 15, 1996 AIRPLANES U.S. TRUST
/s/ Roy M . Dantzic*
-------------------------------
Controlling Trustee
and Officer
*By: /s/ Michael Walsh
-------------------------------
Attorney-in-Fact
EXHIBIT INDEX
Exhibit A - Report to Certificateholders
Exhibit B - Power of Attorney for Airplanes Limited
Exhibit C - Power of Attorney for Airplanes U.S. Trust
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EXHIBIT A
AIRPLANES Group
Report to Certificateholders
All numbers in US$ unless otherwise stated
Payment Date: 15 November, 1996.
Calculation Date: 8 November, 1996.
(i) ACCOUNT ACTIVITY SUMMARY (Between Calculation Dates)
<S> <C> <C> <C> <C>
Balance on
Prior Balance Deposits Withdrawals Calculation Date
------------- -------- ----------- ----------------
8-Oct-96 8-Nov-96
Lessee Funded Account 0.00 0.00 (0.00) 0.00
Expense Account (note ii) 24,218,341.24 16,113,196.90 (16,108,927.76) 24,222,610.38
Collection Account (note iii) 228,459,141.68 54,634,697.18 (51,562,141.68) 231,531,697.18
- - Miscellaneous Reserve 40,000,000.00 40,000,000.00
- - Maintenance Reserve 80,000,000.00 80,000,000.00
- - Security Deposit 56,897,000.00 56,897,000.00
- - Other Collections 51,562,141.68 54,634,697.18
Total 252,677,482.92 70,747,894.08 (67,671,069.44) 255,754,307.56
(ii) ANALYSIS OF EXPENSE ACCOUNT ACTIVITY
Balance on preceding Calculation Date
(October 8,1996) 24,218,341.24
Transfer from Collection Account
(previous Payment Date) 16,000,000.00
Interest Earned during period 113,196.90
Payments during period between prior Calculation
Date and the relevant Calculation Date:
- - Payments on previous Payment Date (2,695,300.94)
- - Other payments (13,413,626.82)
--------------
Balance on relevant Calculation Date
(November 8, 1996) 24,222,610.38
(iii) ANALYSIS OF COLLECTION ACCOUNT ACTIVITY
Balance on preceding Calculation Date
(October 8, 1996) 228,459,141.68
Collections during period 54,634,697.18
Transfer to Expense Account
(previous Payment Date) (16,000,000.00)
Net transfer to Lessee Funded Accounts
Aggregate Certificate Payments
(previous Payment Date) (34,758,238.97)
Swap payments (previous Payment Date) (803,902.71)
--------------
Balance on relevant Calculation Date
(November 8, 1996) 231,531,697.18
(iii) ANALYSIS OF COLLECTION ACCOUNT ACTIVITY (Cont'd)
ANALYSIS OF CURRENT PAYMENT DATE DISTRIBUTIONS
Priority of Payments
(i) Required Expense Amount 40,222,610.38
(ii) a) Class A Interest 13,658,777.98
b) Swap Payments 740,924.61
(iii) First Collection Account Top-up 120,000,000.00
(iv) Minimum Hedge Payment 35,400.00
(v) Class A Minimum Principa l0.00
(vi) Class B Interest 2,045,803.83
(vii) Class B Minimum Principal 1,121,796.00
(viii) Class C Interest 2,546,875.00
(ix) Class D Interest 3,625,000.00
(x) Second Collection Account Top-up 56,897,000.00
(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 492,684.17
(xvii) Supplemental Hedge Payment 35,400.00
(xviii) Class B Supplemental Principal 0.00
(xix) Class A Supplemental Principal 14,332,035.59
(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 255,754,307.56
Less Collection Account Top-Ups
((iii) and (x)above) (176,897,000.00)
--------------
78,857,307.56
==============
</TABLE>
<TABLE>
<CAPTION>
AIRPLANES Group
Report to Certificateholders
All numbers in US$ unless otherwise stated
(iv) PAYMENT ON THE CERTIFICATES
<S> <C> <C> <C> <C> <C> <C>
(a) FLOATING RATE CERTIFICATES A-1 A-2 A-3 A-4 A-5 Class B
-------------- -------------- -------------- -------------- -------------- --------------
Applicable LIBOR 5.38281% 5.38281% 5.38281% 5.38281% 5.38281% 5.38281%
Applicable Margin 0.25000% 0.32000% 0.47000% 0.62000% 0.35000% 1.10000%
Applicable Interest Rate 5.63281% 5.70281% 5.85281% 6.00281% 5.73281% 6.48281%
Interest Amount Payable 4,122,903.99 3,683,064.79 2,519,959.86 1,033,817.28 2,299,032.06 2,045,803.83
Step Up Interest Amount 0.00 0.00 0.00 0.00 0.00 0.00
Opening Principal Balance 850,000,000.00 750,000,000.00 500,000,000.00 200,000,000.00 465,712,919.34 366,472,593.00
Minimum Principal Payment Amount 0.00 0.00 0.00 0.00 0.00 1,121,796.00
Adjusted Principal Payment Amount 0.00 0.00 0.00 0.00 0.00 0.00
Supplemental Principal
Payment Amount 0.00 0.00 0.00 0.00 14,332,035.59 0.00
Total Principal Distribution
Amount 0.00 0.00 0.00 0.00 14,332,035.59 1,121,796.00
Redemption Amount
- - amount allocable to principal 0.00 0.00 0.00 0.00 0.00 0.00
- - premium allocable to premium 0.00 0.00 0.00 0.00 0.00 0.00
-------------- -------------- -------------- -------------- -------------- --------------
Outstanding Principal Balance
(Nov 15, 1996) 850,000,000.00 750,000,000.00 500,000,000.00 200,000,000.00 451,380,883.75 365,350,797.00
(b) FIXED RATE CERTIFICATES Class C Class D
------- -------
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 0.00 0.00
Redemption Amount
- - amount allocable to
principal 0.00 0.00
- - amount allocable to premium 0.00 0.00
Pool Factors and scheduled dollar
amount for each class 0.00 0.00
-------------- --------------
Outstanding Principal Balance
(Nov 15, 1996) 375,000,000.00 400,000,000.00
Table of rescheduled Pool
Factors in the event of n/a n/a
a partial redemption
(v) FLOATING RATE CERTIFICATE INFORMATION FOR NEXT INTEREST ACCRUAL
PERIOD (Aggregate Amounts)
Applicable LIBOR 5.37500% 5.37500% 5.37500% 5.37500% 5.37500% 5.37500%
Applicable Margin 0.25000% 0.32000% 0.47000% 0.62000% 0.35000% 1.10000%
Applicable Interest Rate 5.62500% 5.69500% 5.84500% 5.99500% 5.72500% 6.47500%
(vi) CURRENT PERIOD PAYMENTS
Per $100,000 Initial
Outstanding Principal
Balance of Certificates)
(a) FLOATING RATE CERTIFICATES
Opening Principal Amount 8,500.00 7,500.00 5,000.00 2,000.00 4,657.13 3,664.73
Total Principal Payments 0.00 0.00 0.00 0.00 143.32 11.22
-------------- -------------- -------------- -------------- -------------- --------------
Closing Outstanding Principal
Balance 8,500.00 7,500.00 5,000.00 2,000.00 4,513.81 3,653.51
Total Interest 41.23 36.83 25.20 10.34 22.99 20.46
Total Premium 0.00 0.00 0.00 0.00 0.00 0.00
(b) FIXED RATE CERTIFICATES
Opening Principal Amount 3,750.00 4,000.00
Total Principal Payments 0.00 0.00
-------------- --------------
Outstanding Principal Balance 3,750.00 4,000.00
Total Interest 25.47 36.25
Total Premium 0.00 0.00
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Particulars of Portfolio as of September 30, 1996
(except for Appraised Values which are as of October 31, 1995)
are contained in the table below.
Airplanes Group Portfolio Analysis
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Appraised
Date of Value
Engine Manu- at October
Aircraft Config- Serial facture/ 31, 1995
Region Region Lessee 1 Country Lessee Type uration Series Number Conversion (US$000's)
- ------ ------- --------- ------- -------- --------- --------- ------ ------ ---------- ----------
Africa Africa Kenya Kenya Kenya
Airways Airways B737-200A JT8D-17 1 21193 1-Jul-76 5,409
Africa Kenya Kenya Kenya
Airways Airways B737-200A JT8D-17 1 21196 1-Jul-76 5,411
Africa Nouvelair Tunisia Nouvelair
Tunisie Tunisie MD83 JT8D-219 21 49442 29-Apr-87 21,343
Africa Nouvelair Tunisie Nouvelair
Tunisie Tunisie MD83 JT8D-219 21 49624 1-Aug-88 22,169
Asia & Asia & China China China
Far Far East Southern Southern B737-500 CFM56-3C1 3C1 24897 26-Feb-91 23,082
East Asia & China China China
Far East Southern Southern B737-500 CFM56-3C1 3C1 25182 3-Feb-92 24,322
Asia & China China China
Far East Southern Southern B737-500 CFM56-3C1 3C1 25183 14-Feb-92 24,133
Asia & China China China
Far East Southern Southern B737-500 CFM56-3C1 3C1 25188 12-Mar-92 24,086
Asia & China China China
Far East Southwest Southwest B757-200 RB211-535E4-37 535E4-37 26156 25-Nov-92 46,325
Asia &
Far East Xiamen China Xiamen B737-200QC JT8D-17A 17A 23066 9-Dec-83 9,548
Asia &
Far East East West India East West B737-200A JT8D-15 1 22396 1-Feb-81 7,014
Asia &
Far East East West India East West B737-200A JT8D-15 1 22633 1-Mar-81 6,979
Asia &
Far East Jet India Jet B737-400 CFM56-3C1 3C1 24345 1-Jun-89 26,311
Asia & Airways Airways
Far East Jet India Jet B737-400 CFM56-3C1 3C1 24687 25-May-90 27,123
Asia & Airways Airways
Far East Garuda Indonesia Garuda MD11 CF6-80C2-D1F 80C2-D1F 48499 31-Dec-91 85,461
Asia &
Far East Garuda Indonesia Garuda MD11 CF6-80C2-D1F 80C2-D1F 48500 1-Mar-92 89,453
Asia &
Far East Garuda Indonesia Garuda MD11 CF6-80C2-D1F 80C2-D1F 48501 1-Sep-92 90,442
Asia & PT Mandala Indonesia PT Mandala
Far East Airlines Airlines B737-200A JT8D-17A 17A 23023 30-Mar-83 8,052
Asia &
Far East Sempati Indonesia Sempati(1) F100 TAY650-15 1 11266 17-Aug-90 15,796
Asia &
Far East Sempati Indonesia Sempati F100 TAY650-15 1 11336 5-Jun-91 21,157
Asia &
Far East Sempati Indonesia Sempati F100 TAY650-15 1 11339 1-Jul-91 21,156
Asia &
Far East Sempati Indonesia Sempati F100 TAY650-15 1 11347 1-Oct-91 20,960
Asia & Pakistan Pakistan Pakistan
Far East Int. Int.
Airlines Airlines A300-B4-203 CF6-50C2 50C2 269 11-Aug-83 19,414
Asia & Grand Philippine Grand
Far East Int. Int. A300-B4-100 CF6-50C2 9 26-Dec-74 9,647
Asia & Philippine Philipppine Phillippine
Far East Airlines Airlines A300-C4-203 CF6-50C2 83 1-May-79 20,517
Asia & Philippine Philipppine Phillippine
Far East Airlines Airlines B737-300 CFM56-3B1 24770 1-Oct-90 24,398
Asia & Asiana South Asiana
Far Est Airlines Korea Airlines B737-400 CFM56-3C1 3C1 24493 14-Jul-89 25,915
Asia & Asiana South Asiana
Far East Airlines Korea Airlines B737-400 CFM56-3C1 3C1 24520 21-Dec-89 26,569
Australia Australia National Australia National
& New & New Jet Jet
Zealand Zealand Systems Systems DHC8-100 PW121 229 1-Sep-90 7,477
Australia Air Nelson New Air Nelson METRO-III TPE331-11 1 705 1-Aug-88 1,767
& New Zealand
Zealand
Australia Air Nelson New Air Nelson METRO-III TPE331-11 1 711 1-Mar-88 1,767
& New Zealand
Zealand
Australia Air Nelson New Air Nelson METRO-III TPE331-11 1 712 1-Jun-88 1,767
& New Zealand
Zealand
Europe Europe Rheintal- Austria Rheintal-
flug flug DHC8-300 PW123 307 1-Dec-91 10,031
Europe Air France France Air France A320-200 CFM56-5A3 5A3 203 1-Sep-91 32,384
Europe Air France France Air France A320-200 CFM56 220 1-Sep-91 32,020
Europe Aero Lloyd Germany Aero Lloyd MD83 JT8D-219 21 49620 1-Jul-88 22,737
Europe Contact Air Germany Contact Air DHC8-300 PW123 334 8-Oct-92 10,226
Europe Contact Air Germany Contact Air DHC8-300A PW123 296 1-Oct-91 9,647
Europe Malev Hungary Malev B737-200A JT8D-15 1 21735 1-Jun-79 6,246
Europe Malev Hungary Malev B737-200A JT8D-15 1 22090 1-May-80 6,570
Europe Malev Hungary Malev B737-200A JT8D-17A 17A 22803 14-Feb-83 8,569
Europe Malev Hungary Malev B737-200A JT8D-17A 17A 22804 1-Feb-83 8,274
Europe Malev Hungary Malev B737-200A JT8D-15 1 22979 1-Mar-83 7,335
Europe Malev Hungary Malev B737-400 CFM56-3C1 3C1 26069 2-Nov-92 30,577
Europe Malev Hungary Malev B737-400 CFM56-3C1 3C1 26071 13-Nov-92 30,590
Europe Air Atlanta Iceland Air Atlanta B737-200A JT8D-17 1 21192 1-Mar-76 5,529
Europe Aer Lingus Ireland Aer Lingus B737-400 CFM56-3C1 3C1 24690 1-Jul-90 27,262
Europe Translift Ireland Translift
Airways Airways A300-B4-100 CF6-50C2 12 20-May-75 9,548
Europe Translift Ireland Translift
Airways Airways A300-B4-100 CF6-50C2 50C2 20 1-Oct-75 9,739
Europe Aliadriatica Italy Aliadriatica B737-300 CFM56-3C1 3C1 25187 14-Mar-92 27,605
Europe Aliadriatica Italy Aliadriatica B737-300 CFM56-3C1 3C1 25179 12-Feb-92 27,841
Europe Eurofly Italy Eurofly MD83 JT8D-219 21 49390 1-Apr-86 19,999
Europe Eurofly Italy Eurofly MD83 JT8D-219 21 49631 14-Jun-89 23,356
Europe Schreiner Netherlands Schreiner
Airways Airways DHC8-300A PW123 276 13-May-91 9,637
Europe Schreiner Netherlands Schreiner
Airways Airways DHC8-300A PW123 283 1-Sep-91 9,983
Europe Schreiner Netherlands Schreiner
Airways Airways DHC8-300A PW123 298 1-Apr-92 10,100
Europe Schreiner Netherlands Schreiner
Airways Airways DHC8-300A PW123 300 1-Apr-92 10,349
Europe Transavia Netherlands Transavia B737-300 CFM56-3C1 3C1 24905 1-Feb-91 26,155
Europe Wideroe's Norway Wideroe's
Flyvesel- Flyvesel-
skap a/s skap a/s DHC8-300 PW123 293 1-Oct-91 10,057
Europe Wideroe's Norway Wideroe's
Flyvesel- Flyvesel-
skap a/s skap a/s DHC8-300 PW123 342 1-Dec-92 11,004
Europe Air Europa Spain Air Europa B737-300 CFM56-3B2 3B2 23749 1-May-87 22,370
Europe Air Europa Spain Air Europa B737-300 CFM56-3B2 3B2 23923 1-Apr-88 23,454
Europe Air Europa Spain Air Europa B737-400 CFM56-3C1 3C1 24906 24-Feb-91 28,246
Europe Air Europa Spain Air Europa B737-400 CFM56-3C1 3C1 24912 14-Jun-91 28,914
Europe Futura Spain Futura B737-400 CFM56-3C1 3C1 24689 3-Jul-90 27,442
Europe Futura Spain Futura B737-400 CFM56-3C1 3C1 25180 21-Jan-92 29,733
Europe IBERIA Spain IBERIA DC8-71F CFM56-2C1 2C1 45945 19-May-92 18,687
Europe Spanair Spain Spanair MD83 JT8D-219 21 49626 22-Oct-88 22,523
Europe Spanair Spain Spanair MD83 JT8D-219 21 49672 1-Jul-88 22,377
Europe Spanair Spain Spanair MD83 JT8D-219 21 49709 1-Dec-88 22,559
Europe Spanair Spain Spanair MD83 JT8D-219 21 49938 1-Dec-90 25,306
Europe Nordic East Sweden Nordic East
Airways Airways B737-400 CFM56-3C1 3C1 24911 1-Apr-91 28,969
Europe Transwede Sweden Transwede F100 TAY650-15 1 11371 19-Dec-91 20,945
Europe Transwede Sweden Transwede B757-200 RB2110-535E4-37 26151 23-Jul-92 46,125
Europe SAS Sweden SAS B767-300ER PW4060 25411 15-Jan-92 70,847
Europe Edelweiss Switzerland Edelweiss
Air AG Air AG MD83 JT8D-219 21 49935 26-Sep-90 25,006
Europe Edelweiss Switzerland Edelweiss
Air AG Air AG MD83 JT8D-219 21 49951 25-Aug-91 26,405
Europe Istanbul Turkey Istanbul B737-400 CFM56-3C1 3C1 24683 7-Aug-90 27,420
Europe Istanbul Turkey Istanbul B737-400 CFM56-3C1 3C1 24691 9-Aug-90 27,396
Europe Pegasus Turkey Pegasus B737-400 CFM56-3C1 3C1 26081 10-Mar-93 31,607
Europe Pegasus Turkey Pegasus B737-400 CFM56-3C1 3C1 24684 1-Apr-90 27,201
Europe Sun Express Turkey Sun Express B737-400 CFM56-3C1 3C1 25190 7-Apr-92 29,872
Europe Sunways Turkey Sunways MD83 JT8D-219 21 49792 1-Nov-89 24,028
Europe Sunways Turkey Sunways MD83 JT8D-219 21 49936 6-Oct-90 25,029
Europe Sunways Turkey Sunways MD83 JT8D-219 21 49943 1-Jul-91 26,403
Europe Turk Hava Turkey Turk Hava
Yollari Yollari B737-400 CFM56-3C1 3C1 24917 24-Jun-91 28,612
Europe Turk Hava Turkey Turk Hava B737-400 CFM56-3C1 3C1 25181 3-Feb-92 29,676
Yollari Yollari
Europe Turk Hava Turkey Turk Hava
Yollari Yollari B737-400 CFM56-3C1 3C1 25184 2-Mar-92 29,831
Europe Turk Hava Turkey Turk Hava
Yollari Yollari B737-400 CFM56-3C1 3C1 25261 9-Apr-92 29,939
Europe Turk Hava Turkey Turk Hava
Yollari Yollari B737-400 CFM56-3C1 3C1 26065 1-May-92 30,002
Europe Turk Hava Turkey Turk Hava
Yollari Yollari B737-500 CFM56-3C1 3C1 25288 16-Jun-92 24,380
Europe Turk Hava Turkey Turk Hava
Yollari Yollari B737-500 CFM56-3C1 3C1 25289 12-Jun-92 24,279
Europe Airtours United Airtours
Inter- Kingdom Inter-
national national A320-200 CFM56 348 17-Jun-92 34,368
Europe Airtours United Airtours
Inter- Kingdom Inter-
national national A320-200 CFM56 301 22-Apr-92 33,760
Europe Airtours United Airtours
Inter- Kingdom Inter-
national national A320-200 CFM56 294 2-Apr-92 33,427
Europe Airtours United Airtours
Inter- Kingdom Inter-
national national A320-200 CFM56-5A3 5A3 349 30-Oct-92 34,213
Europe British United British
Midland Kingdom Midland B737-500 CFM56-3C1 25185 18-Feb-92 23,903
Europe Titan United Titan
Airways Kingdom Airways ATR42-300 PW120 109 14-Oct-88 6,443
Europe Titan United Titan
Airways Kingdom Airways ATR42-300 PW120 113 18-Nov-88 6,463
Latin Latin
America America Liat Antigua Liat DHC8-100 PW120-A A 140 1-Mar-89 6,242
Latin
America Liat Antigua Liat DHC8-100 PW120-A A 144 1-Mar-89 6,433
Latin
America Liat Antigua Liat DHC8-100 PW120-A A 270 1-May-91 7,345
Latin
America Liat Antigua Liat DHC8-102 PW120-A A 113 1-Sep-88 5,782
Latin
America LAPA Argentina LAPA B737-200A JT8D-15 1 22278 19-Mar-80 7,082
Latin
America LAPA Argentina LAPA B737-200A JT8D-15 1 22368 1-Sep-80 6,722
Latin
America LAPA Argentina LAPA B737-200A JT8D-15 1 22369 1-Sep-80 6,795
Latin
America LAPA Argentina LAPA B737-200QC JT8D-17A 23065 15-Oct-96 9,316
Latin
America Air Aruba Aruba Air Aruba MD83 JT8D-219 21 49950 1-Nov-91 26,695
Latin
America Rio Sul Brazil Rio Sul B737-500 CFM56-3C1 3C1 25186 11-Mar-92 23,991
Latin
America Rio Sul Brazil Rio Sul B737-500 CFM56-3C1 3C1 25192 14-Apr-92 24,051
Latin
America Rio Sul Brazil Rio Sul B737-500 CFM56-3C1 3C1 26075 23-Oct-92 24,607
Latin
America TAM Brazil TAM F100 TAY650-15 1 11284 31-Jul-90 19,648
Latin
America TAM Brazil TAM F100 TAY650-15 1 11285 1-Aug-90 19,627
Latin
America TAM Brazil TAM F100 TAY650-15 1 11304 27-Feb-91 20,887
Latin
America TAM Brazil TAM F100 TAY650-15 1 11305 19-Apr-91 20,903
Latin
America TAM Brazil TAM F100 TAY650-15 1 11348 6-Aug-91 20,806
Latin
America Transbrasil Brazil Transbrasil B767-200ER PW4056 25421 14-Jan-92 59,697
Latin
America Transbrasil Brazil Transbrasil B767-300ER PW4060 24948 19-Jul-91 68,304
Latin
America VARIG(1) Brazil VARIG(1) B737-300 CFM56-3B2 3B2 26852 20-Apr-92 23,295
Latin
America VARIG(1) Brazil VARIG(1) DC10-30F CF6-50C2 50C2 47841 3-Jul-80 21,736
Latin
America VARIG(1) Brazil VARIG(1) DC10-30F CF6-50C2 50C2 47842 8-Apr-80 21,736
Latin
America Fast Air Chile Fast Air DC8-71F CFM56-2C1 2C1 45810 9-Apr-92 19,053
Latin
America Fast Air Chile Fast Air DC8-71F CFM56-2C1 2C1 45970 15-Oct-92 18,793
Latin
America Fast Air Chile Fast Air DC8-71F CFM56-2C1 2C1 45976 10-Aug-91 18,933
Latin
America Fast Air Chile Fast Air DC8-71F CFM56-2C1 2C1 45996 29-Oct-92 18,797
Latin
America Fast Air Chile Fast Air DC8-71F CFM56-2C1 2C1 45997 7-Dec-93 18,787
Latin Lan Chile Chile Lan Chile
America Airlines Airlines B737-200A JT8D-15 1 21960 1-Mar-80 6,529
Latin Lan Chile Chile Lan Chile
America Airlines Airlines B737-200A JT8D-15 1 22397 1-Feb-81 7,556
Latin Lan Chile Lan Chile
America Airlines Chile Airlines B737-200A JT8D-17A 17A 22407 1-Sep-80 7,281
Latin Lan Chile Chile Lan Chile
America Airlines Airlines B737-200A JT8D-15 1 22632 1-Feb-82 7,531
Latin Lan Chile Chile Lan Chile
America Airlines Airlines B737-200A JT8D-17A 17A 23024 1-May-83 7,850
Latin
America ACES Colombia ACES ATR42-320 PW121-5A1 5A1 284 1-Jan-92 8,447
Latin
America Avianca Colombia Avianca B757-200 RB211-535E4-37 535E4-37 26154 22-Sep-92 46,327
Latin
America Avianca Colombia Avianca MD83 JT8D-219 21 49939 26-Oct-90 25,376
Latin
America Avianca Colombia Avianca MD83 JT8D-219 21 49946 18-Jul-91 26,329
Latin
America Avianca Colombia Avianca MD83 JT8D-219 21 53120 29-Jul-92 27,647
Latin
America Avianca Colombia Avianca MD83 JT8D-219 21 53125 2-Apr-92 27,968
Latin
America Tampa Colombia Tampa DC8-71F CFM56-2C1 2C1 45849 9-Mar-91 18,307
Latin
America Tampa Colombia Tampa DC8-71F CFM56-2C1 2C1 46066 24-Apr-91 18,680
Latin
America Air Jamaica Jamaica Air Jamaica A300-B4-203 CF6-50C2 50C2 131 7-Feb-81 16,362
Latin
America Aero- Mexico Aero-
Latin california california DC9-14 JT8D-7B 7B 45736 1-Aug-66 1,143
America Aero- Mexico Aero-
Latin california californis DC9-14 JT8D-7B 7B 45743 1-May-66 1,043
America Aero- Mexico Aero- DC9-15 JT8D-7A 7A 45785 1-Nov-66 1,096
Latin california california
America Aero- Mexico Aero- DC9-15 JT8D-7B 7B 45786 1-Mar-67 1,190
Latin california california
America Aero- Mexico Aero- DC9-15 JT8D-7A 7A 47059 1-May-67 1,073
Latin california california
America Aero- Mexico Aero- DC9-15 JT8D-7A 7A 47085 1-Jul-67 1,073
Latin california california
America Aero- Mexico Aero- DC9-15 JT8D-7A 7A 47122 1-Dec-67 1,073
Latin california california
America Aero- Mexico Aero- DC9-15 JT8D-7A 7A 47126 1-Oct-68 1,107
Latin california california
America Aeromexico Mexico Aeromexico B767-300ER PW4060 26200 1-Sep-92 72,814
Latin
America Aeromexico Mexico Aeromexico B767-300ER PW4060 26204 1-Oct-92 72,874
Latin
America Aeromexico Mexico Aeromexico DC9-32 JT8D-17 1 47594 1-Feb-74 4,043
Latin
America Aeromexico Mexico Aeromexico DC9-32 JT8D-17 1 48125 1-Apr-80 5,777
Latin
America Aeromexico Mexico Aeromexico DC9-32 JT8D-17 1 48126 1-Apr-80 5,763
Latin
America Aeromexico Mexico Aeromexico DC9-32 JT8D-17 1 48127 1-Jul-80 5,850
Latin
America Aeromexico Mexico Aeromexico DC9-32 JT8D-17 1 48128 1-Aug-80 5,874
Latin
America Aeromexico Mexico Aeromexico DC9-32 JT8D-17 1 48129 1-Nov-80 5,890
Latin
America Aeromexico Mexico Aeromexico DC9-32 JT8D-17 1 48130 1-Dec-80 5,547
Latin
America Aeromexico Mexico Aeromexico MD82 JT8D-217 21 49660 1-Mar-88 21,167
Latin
America Aeromexico Mexico Aeromexico MD82 JT8D-217A 217A 49667 21-Jan-88 21,279
Latin
America Aeromexico Mexico Aeromexico MD87 JT8D-219 21 49673 1-Dec-88 18,155
Latin
America Mexicana Mexico Mexicana B727-200A JT8D-17R 17R 21346 1-Oct-80 5,459
Latin
America Mexicana Mexico Mexicana B727-200A JT8D-17R 17R 21600 1-Nov-80 5,483
Latin
America Mexicana Mexico Mexicana F100 TAY650-15 1 11309 16-May-91 21,123
Latin
America Mexicana Mexico Mexicana F100 TAY650-15 1 11319 5-Apr-91 21,243
Latin
America Mexicana Mexico Mexicana F100 TAY650-15 1 11374 20-Jan-92 22,314
Latin
America Mexicana Mexico Mexicana F100 TAY650-15 1 11375 1-Dec-92 22,356
Latin
America Mexicana Mexico Mexicana F100 TAY650-15 1 11382 1-Jan-93 22,372
Latin
America Mexicana Mexico Mexicana F100 TAY650-15 1 11384 1-Jan-93 22,379
Latin
America Aerosanta Peru Aerosanta B737-200A JT8D-17 1 21206 26-Feb-76 4,961
Latin BWIA Trinidad BWIA
America Inte- & Tobago Inter- MD83 JT8D-219 21 49789 23-Sep-89 23,626
national national
North North BOMBARDIER Canada BOMBARDIER DHC8-300 PW123 232 20-Oct-90 8,973
America America INC INC
North BOMBARDIER Canada BOMBARDIER DHC8-300 PW123 244 1-Dec-90 9,017
America INC INC
North BOMBARDIER Canada BOMBARDIER DHC8-300A PW123 266 20-Mar-91 9,583
America INC INC
North BOMBARDIER Canada BOMBARDIER DHC8-300A PW123 267 4-Apr-91 9,617
America INC INC
North Canadian Canada Canadian
America Airlines Airlines A320-200 CFM56-5A1 5A1 174 1-Apr-91 31,688
North Canadian Canada Canadian
America Airlines Airlines A320-200 CFM56-5A1 5A1 175 1-Apr-91 32,146
North Canadian Canada Canadian
America Airlines Airlines A320-200 CFM56-5A1 5A1 232 1-Oct-91 32,232
North Canadian Canada Canadian
America Airlines Airlines A320-200 CFM56-5A1 284 9-Mar-92 33,507
North Canadian Canada Canadian
America Airlines Airlines A320-200 CFM56-5A1 5A1 309 13-May-92 33,486
North Canadian Canada Canadian
America Airlines Airlines A320-200 CFM56-5A1 404 1-Jan-94 35,951
North Canadian Canada Canadian
America Airlines Airlines(1) B737-200A JT8D-9A 9A 20922 1-Aug-74 3,226
North Canadian Canada Canadian
America Airlines Airlines(1) B737-200A JT8D-9A 9A 20958 1-Jan-75 4,176
North Canadian Canada Canadian
America Airlines Airlines(1) B737-200A JT8D-9A 9A 20959 1-Nov-74 4,177
North Canadian Canada Canadian
America Airlines Airlines(1) B737-200A JT8D-9A 9A 21115 1-Dec-75 4,176
North Canadian Canada Canadian
America Airlines Airlines(1) B737-200A JT8D-9A 9A 21639 1-Nov-78 5,682
North Canadian Canada Canadian
America Airlines Airlines(1) B737-200A JT8D-9A 9A 21712 1-Feb-79 6,190
North Canadian Canada Canadian
America Airlines Airlines(1) B737-200A JT8D-9A 9A 22873 1-Jul-82 9,551
North Aloha United Aloha
America Airlines States of Airlines
America B737-300 CFM56-3B1 3B1 23499 1-Jun-86 22,840
North Aloha United Aloha
America Airlines States of Airlines
America B737-300 CFM56-3B1 3B1 23500 1-Jun-86 22,823
North Burlington United Burlington
America Air States of Air
Express America Express DC8-71F CFM56-2C1 2C1 45811 30-May-91 18,460
North Burlington United Burlington
America Air States of Air
Express America Express DC8-71F CFM56-2C1 2C1 45813 28-Apr-92 18,690
North Burlington United Burlington
America Air States of Air
Express America Express DC8-71F CFM56-2C1 2C1 45946 23-Apr-92 18,680
North Burlington United Burlington
America Air States of Air
Express America Express DC8-71F CFM56-2C1 2C1 45971 13-Feb-92 18,753
North Burlington United Burlington
America Air States of Air
Express America Express DC8-71F CFM56-2C1 45973 27-Feb-92 19,215
North Burlington United Burlington
America Air States of Air
Express America Express DC8-71F CFM56-2C1 2C1 45978 23-Apr-93 18,550
North Burlington United Burlington
America Air States of Air
Express America Express DC8-71F CFM56-2C1 2C1 45993 23-Jun-93 18,690
North Burlington United Burlington
America Air States of Air
Express America Express DC8-71F CFM56-2C1 2C1 45994 1-Sep-94 19,000
North Burlington United Burlington
America Air States of Air
Express America Express DC8-71F CFM56-2C1 2C1 45998 21-May-93 18,800
North Burlington United Burlington
America Air States of Air
Express America Express DC8-71F CFM56-2C1 2C1 46065 12-Jan-92 18,760
North Emery United Emery
America Worldwide States of Worldwide
America DC8-71F CFM56-2C1 2C1 45812 14-Jul-94 18,537
North Emery United Emery
America Worldwide States of Worldwide
America DC8-71F CFM56-2C1 2C1 45941 27-Aug-91 18,887
North Emery United Emery
America Worldwide States of Worldwide
America DC8-71F CFM56-2C1 2C1 45947 11-Mar-94 18,667
North Emery United Emery
America Worldwide States of Worldwide
America DC8-71F CFM56-2C1 2C1 45974 25-Jun-91 19,473
North Emery United Emery
America Worldwide States of Worldwide
America DC8-71F CFM56-2C1 2C1 45975 21-Jul-92 19,167
North Emery United Emery
America Worldwide States of Worldwide
America DC8-71F CFM56-2C1 2C1 45977 23-Nov-90 19,040
North Emery United Emery
America Worldwide States of Worldwide
America DC8-71F CFM56-2C1 2C1 45983 24-Jan-94 18,197
North Emery United Emery
America Worldwide States of Worldwide
America DC8-71F CFM56-2C1 2C1 45995 30-Dec-94 18,750
North Emery United Emery
America Worldwide States of Worldwide
America DC8-71F CFM56-2C1 2C1 46039 29-Oct-90 19,010
North Frontier United Frontier
America States of
America B737-300 CFM56-3B1 3B1 23177 1-Apr-86 21,085
North Hawaiian United Hawaiian
America Airlines States of Airlines
America DC9-51 JT8D-17 1 47742 1-Jun-77 5,129
North Hawaiian United Hawaiian
America Airlines States of Airlines
America DC9-51 JT8D-17 1 47784 1-May-79 5,483
North Hawaiian United Hawaiian
America Airlines States of Airlines
America DC9-51 JT8D-17 1 47796 1-Apr-79 5,679
North Hawaiian United Hawaiian
America Airlines States of Airlines
America DC9-51 JT8D-17 1 48122 26-Jan-81 6,466
North Idefix United Idefix
America States of
America ATR42-300 PW120 249 1-Jun-91 8,064
North Reno Air United Reno Air
America States of
America MD-83 JT8D-219 49941 1-Dec-90 25,022
North Reno Air United Reno Air
America States of
America MD-83 JT8D-219 49949 5-Aug-91 26,421
North SAT United SAT
America States of
America DC8-73CF CFM56-2C1 2C1 46091 1-Dec-89 22,870
North Tower Air United Tower Air
America States of
America B747-200BC JT9D-7Q 7Q 21730 7-Jun-79 38,447
North TWA United TWA
America States of
America MD83 JT8D-219 21 49575 1-Oct-87 21,786
North US Air United US Air
America Express States of Express
America DHC8-100 PW121 258 1-Jan-91 7,527
Others Others Fornax Cypprus Fornax
Aircraft Aircraft
Leasing Leasing B737-200A JT8D-17 1 21685 1-Jan-79 6,374
Others Lithuanian Lithuania Lithuanian
Airlines Airlines B737-200A JT8D-15 1 22453 1-Mar-81 7,288
Others Ukraine Ukraine Ukraine
Inter- Inter-
national national B737-200A JT8D-17A 17A 22802 1-Feb-83 8,113
Others Ukraine Ukraine Ukraine
Inter- Inter-
national national B737-300 CFM56-3C1 3C1 24907 1-Mar-91 26,307
Off Lease Off Lease Off Lease Off Lease DC10-30 CF6-50C2 50C2 46976 14-Dec-78 22,670
Off Lease Off Lease Off Lease DC10-30 CF6-50C2 50C2 46978 29-Nov-78 22,747
Off Lease Off Lease Off Lease DHC8-300C PW123 230 1-Feb-91 9,691
Off Lease Off Lease Off Lease DHC8-300C PW123 242 1-Nov-90 9,606
Off Lease Off Lease Off Lease
- LOI
Jet
Airways (2) B737-500 CFM56-3C1 3C1 25191 10-Apr-92 23,998
---------
4,527,040
---------
<FN>
Note:
(1) Aircraft Lease Receivable Book Values are used for the Aircraft subject to Finance Leases (11 in
total) rather than the Initial Appraised Values of these Aircraft.
(2) "LOI" denotes Aircraft subject to non-binding Letter of Intent with a particular lessee.
</DCOUMENT>
</TABLE>
Exhibit B
Attached hereto is a true and correct copy of a Power of Attorney given by
each of the persons signatory thereto.
/s/ Janet Anderson
-------------------------------
Janet Anderson
POWER OF ATTORNEY
Each of the undersigned, being a Director and officer of Airplanes
Limited, hereby individually appoints Patrick Blaney, John Tierney, Brian
McLoghlin, Declan Treacy, Richard Pierce, John Redmond, Michael Walsh and
Rose Hynes and each of them, acting as an officer of GPA Financial Services
(Ireland) Limited, as Administrative Agent of Airplanes Limited, his true
and lawful attorney-in-fact and agent (each an "Attorney-in-Fact"), with
full power of substitution and resubstitution, for him and in his name,
place and stead, in his capacity as a Director and an officer of Airplanes
Limited, to sign each Report on Form 8-K which will be filed at least
monthly, provided that where any such Report on Form 8-K is required to
contain any information in addition to or other than a copy of the relevant
monthly report to certificate holders, the contents of such Report on Form
8-K shall be notified to any one Director of Airplanes Limited prior to the
filing thereof, each such Report on Form 8-K containing a monthly report to
a certificate holders to be filed monthly on or about the 15th day of each
month and each other Report on Form 8-K to be filed within the time
prescribed by the SEC upon the occurrance of certain events listed in the
SEC rules and regulations with the Securities and Exchange Commission (the
"SEC") and any amendments thereto, and to file the same with any exhibits
thereto and any other documents in connection therewith with the SEC,
granting unto said Attorney-in-Fact full power and authority to do and
perform each and every act and thing requisite and necessary to be done in
and about the premises as fully to all intents and purposes as he might or
could do in person, hereby ratifying and confirming all that said Attorney-
in-Fact, or his substitute, may lawfully do or cause to be done by virtue
hereof.
IN WITNESS WHEREOF, each of the undersigned has caused this Power of
Attorney to be duly executed and delivered on the date indicated below.
Dated: 24 June 1996 /s/ Roy M. Dantzic
-------------------------
Roy M. Dantzic
Witness: /s/ A.Syvret
-------------------------
Dated: 24 June 1996 /s/ William A. Franke
-------------------------
William A. Franke
Witness: /s/ A.Syvret
-------------------------
Dated: 24 June 1996 /s/ Hugh R. Jenkins
-------------------------
Hugh R. Jenkins
Witness: /s/ A.Syvret
-------------------------
Dated: 24 June 1996 /s/ William M. McCann
-------------------------
William M. McCann
Witness: /s/ A.Syvret
-------------------------
Dated: 24 June 1996 /s/ Edward J. Hansom
-------------------------
Edward J. Hansom
Witness: /s/ A.Syvret
-------------------------
Exhibit C
Attached hereto is a true and correct copy of a Power of
Attorney given by each of the persons signatory thereto.
/s/ Janet Anderson
-------------------------
Janet Anderson
POWER OF ATTORNEY
Each of the undersigned, being a Controlling Trustee and officer of
Airplanes U.S. Trust, hereby individually appoints Patrick Blaney, John
Tierney, Brian McLoghlin, Declan Treacy, Richard Pierce, John Redmond, Michael
Walsh and Rose Hynes and each of them, acting as an officer of GPA Financial
Services (Ireland) Limited, as Administrative Agent of Airplanes U.S, his true
and lawful attorney-in-fact and agent (each an "Attorney-in-Fact"), with full
power of substitution and resubstitution, for him and in his name, place and
stead, in his capacity as a Controlling Trustee and an officer of Airplanes
U.S. Trust to sign each Report on Form 8-K which will be filed at least
monthly, provided that where any such Report on Form 8-K is required to
contain any information in addition to or other than a copy of the relevant
monthly report to certificate holders, the contents of such Report on Form 8-K
shall be notified to any one Controlling Trustee of Airplanes U.S. Trust prior
to the filing thereof, each such Report on Form 8-K containing a monthly
report to certificate holders to be filed monthly on or about the 15th day of
each month and each other Report on Form 8-K to be filed within the time
prescribed by the SEC upon the occurrance of certain events listed in the SEC
rules and regulations with the Securities and Exchange Commission (the "SEC")
and any amendments thereto, and to file the same with any exhibits thereto and
any other documents in connection therewith with the SEC, granting unto said
Attorney-in-Fact full power and authority to do and perform each and every
act and thing requisite and necessary to be done in and about the premises
as fully to all intents and purposes as he might or could do in person,
hereby ratifying and confirming all that said Attorney-in-Fact, or his
substitute, may lawfully do or cause to be done by virtue hereof.
Dated: 24 June 1996 /s/ Roy. M. Dantzic
---------------------------
Roy M. Dantzic
Controlling Trustee
/s/ William A. Franke
---------------------------
William A. Franke
Controlling Trustee
/s/ Hugh R. Jenkins
---------------------------
Hugh R. Jenkins
Controlling Trustee
/s/ William M. McCann
---------------------------
William M. McCann
Controlling Trustee
/s/ Edward J. Hansom
---------------------------
Edward J. Hansom
Controlling Trustee
