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
December 13, 1999
(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.)
Airplanes 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)
<PAGE>
Item 5. Other Events
Attached hereto as Exhibit A is a copy of a Report to
Certificateholders dated December 15, 1999, sent to each holder of a Pass
Through Certificate issued by Airplanes Pass Through Trust.
2
<PAGE>
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: December 13, 1999 /s/ Roy M. Dantzic*
-------------------
Director and Officer
Date: December 13, 1999 AIRPLANES U.S. TRUST
/s/ Roy M . Dantzic*
--------------------
Controlling Trustee
and Officer
*By: /s/ Michael Walsh
------------------
Attorney-in-Fact
3
<PAGE>
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
Exhibit A
AIRPLANES Group
Report to Certificateholders
All numbers in US$ unless otherwise stated
Payment Date: 15 December, 1999.
Calculation Date: 09 December 1999.
(i) ACCOUNT ACTIVITY SUMMARY (Between Calculation Dates)
<TABLE>
- -------------------------------------------------------------------------------------------------------------------------
Prior Balance Deposits Withdrawals Balance on Calculation Date
- -------------------------------------------------------------------------------------------------------------------------
8-Nov-99 9-Dec-99
<S> <C> <C> <C> <C>
Lessee Funded Account 0.00 0.00 (0.00) 0.00
Expense Account (note ii) 5,080,246.20 12,925,083.00 (16,277,181.00) 1,728,148.20
Collection Account (note iii) 207,769,736.39 70,563,271.70 (43,318,540.39) 235,014,467.69
- -----------------------------------------------------------------------------------------------------------
- Miscellaneous Reserve 40,000,000.00 40,000,000.00
- Maintenance Reserve 80,000,000.00 80,000,000.00
- Security Deposit 49,011,196.00 49,451,196.00
- Other Collections (net
of interim withdrawals) 38,758,540.38 65,563,271.70
- -----------------------------------------------------------------------------------------------------------
Total 212,849,982.59 83,488,354.70 (59,595,721.39) 236,742,615.89
- -----------------------------------------------------------------------------------------------------------
</TABLE>
(ii) ANALYSIS OF EXPENSE ACCOUNT ACTIVITY
- -------------------------------------------------------------------------------
Balance on preceding Calculation Date (Nov 08,1999) 5,080,246.20
Transfer from Collection Account (previous Payment Date) 7,895,683.83
Transfer from Collection Account (interim deposit) 5,000,000.00
Interest Earned during period 29,399.17
Payments during period between prior Calculation Date and the relevant
Calculation Date:
- Payments on previous Payment Date (3,159,776.13)
- Other payments (13,117,404.87)
-----------------
Balance on relevant Calculation Date (Dec 09, 1999) 1,728,148.20
- -------------------------------------------------------------------------
(iii)ANALYSIS OF COLLECTION ACCOUNT ACTIVITY
<TABLE>
------------------------------------------------------------------------- =================================================
<S> <C> <C>
Balance on preceding Calculation Date (Nov 08,1999) 207,769,736.39 Note:
Collections during period 58,958,032.00 Swap receipts (previous Payment Date) include gross
Swap receipts (previous Payment Date) 11,605,239.70 cash proceeds of $11.54m from the re-couponing /
Transfer to Expense Account (previous Payment Date) (7,895,683.83) unwinding of Airplanes Group Swaps. Net cash
Transfer to Expense Account (interim withdrawal) (5,000,000.00) proceeds will amount to $11.25m after a related
Net transfer to Lessee Funded Accounts 0.00 payment on December 15, 1999.
Aggregate Certificate Payments (previous Payment Date) (29,745,553.24) (Refer Airplanes Group Form 10-Q for the period to
Swap payments (previous Payment Date) (677,303.32) September 30, 1999)
=================================================
----------------
Balance on relevant Calculation Date (Dec 09, 1999) 235,014,467.69
-------------------------------------------------------------------------
</TABLE>
<PAGE>
AIRPLANES Group
Report to Certificateholders
All numbers in US$ unless otherwise stated
(iii)ANALYSIS OF COLLECTION ACCOUNT ACTIVITY (Cont'd)
===============================================================================
<TABLE>
ANALYSIS OF CURRENT PAYMENT DATE DISTRIBUTIONS
<S> <C> <C>
Priority of Payments ======================================
Note:
(i)Required Expense Amount 15,000,000.00
(ii)a) Class A Interest 9,911,342.97 Swap receipts (previous Payment
b) Swap Payments 1,196,165.26 Date) include gross cash proceeds
(iii)First Collection Account Top-up 120,000,000.00 of $11.54m from the re-couponing /
(iv)Minimum Hedge Payment 0.00 unwinding of Airplanes Group Swaps.
(v)Class A Minimum Principal 0.00 Net cash proceeds will amount to
(vi)Class B Interest 1,543,956.96 $11.25m after a related payment on
(vii)Class B Minimum Principal 1,150,136.95 December 15, 1999. (Refer Airplanes
(viii)Class C Interest 2,489,315.63 Group Form 10-Q for the period to
(ix)Class D Interest 3,625,000.00 September 30, 1999)
(x)Second Collection Account Top-up 49,668,696.00
(xi)Class A Principal Adjustment Amount 21,961,477.92 ======================================
(xii)Class C Scheduled Principal 10,196,524.20
(xiii)Class D Scheduled Principal 0.00
(xiv)Modification Payments 0.00
(xv)Soft Bullet Note Step-up Interest 0.00
(xvi)Class E Minimum Interest 0.00
(xvii)Supplemental Hedge Payment 0.00
(xviii)Class B Supplemental Principal 0.00
(xix)Class A Supplemental Principal 0.00
(xx)Class D Outstanding Principal 0.00
(xxi)Class C Outstanding Principal 0.00
(xxii)Class E Supplemental Interest 0.00
(xxiii)Class B Outstanding Principal 0.00
(xxiv)Class A Outstanding Principal 0.00
(xxv)Class E Accrued Unpaid Interest 0.00
(xxvi)Class E Outstanding Principal 0.00
(xxvii)Charitable Trust 0.00
-------------------
Total Payments with respect to Payment Date 236,742,615.89
Less Collection Account Top-Ups ((iii) and (x)above) (169,668,696.00)
===================
67,073,919.89
===================
================================================================================
</TABLE>
<PAGE>
AIRPLANES Group
Report to Certificateholders
All numbers in US$ unless otherwise stated
(iv) PAYMENT ON THE CERTIFICATES
<TABLE>
- ------------------------------------------------------------------------------------------------------------------------------------
(a) FLOATING RATE CERTIFICATES A-4 A-6 A-7 A-8 Class B
--------------------------
<S> <C> <C> <C> <C> <C>
Applicable LIBOR 5.40000% 5.40000% 5.40000% 5.40000% 5.40000%
Applicable Margin 0.62000% 0.34000% 0.26000% 0.37500% 0.75000%
Applicable Interest Rate 6.02000% 5.74000% 5.66000% 5.77500% 6.15000%
Interest Amount Payable 1,003,333.33 2,945,092.97 2,594,166.67 3,368,750.00 1,543,956.96
Step Up Interest Amount 0.00 0.00 0.00 0.00 0.00
Opening Principal Balance 200,000,000.00 615,698,879.03 550,000,000.00 700,000,000.00 301,259,895.36
Minimum Principal Payment Amount 0.00 0.00 0.00 0.00 1,150,136.95
Adjusted Principal Payment Amount 0.00 21,961,477.92 0.00 0.00 0.00
Supplemental Principal Payment Amount 0.00 0.00 0.00 0.00 0.00
Total Principal Distribution Amount 0.00 21,961,477.92 0.00 0.00 1,150,136.95
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 15,1999) 200,000,000.00 593,737,401.11 550,000,000.00 700,000,000.00 300,109,758.41
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
- -----------------------------------------------------------------------------
(b) FIXED RATE CERTIFICATES Class C Class D
Applicable Interest Rate 8.1500% 10.8750%
Interest Amount Payable 2,489,315.63 3,625,000.00
Opening Principal Balance 366,525,000.00 400,000,000.00
Scheduled Principal Payment Amount 10,196,524.20
Redemption Amount
- amount allocable to principal 0.00 0.00
- amount allocable to premium 0.00 0.00
Actual Pool Factor 0.9502093 1.0000000
--------------------------------
Outstanding Principal Balance
(Dec 15,1999) 356,328,475.80 400,000,000.00
- -------------------------------------------------------------------------------
Table of rescheduled Pool Factors n/a n/a
in the event of a partial redemption
<PAGE>
AIRPLANES Group
Report to Certificateholders
All numbers in US$ unless otherwise stated
(v) FLOATING RATE CERTIFICATE INFORMATION FOR NEXT INTEREST ACCRUAL PERIOD
(Aggregate Amounts)
<TABLE>
- -------------------------------------------------------------------------------------------------------------------------------
A-4 A-6 A-7 A-8 Class B
<S> <C> <C> <C> <C> <C>
Applicable LIBOR 6.46250% 6.46250% 6.46250% 6.46250% 6.46250%
Applicable Margin 0.62000% 0.34000% 0.26000% 0.37500% 0.75000%
Applicable Interest Rate 7.08250% 6.80250% 6.72250% 6.83750% 7.21250%
- -------------------------------------------------------------------------------------------------------------------------------
(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 6,156.99 5,500.00 7,000.00 3,012.60
Total Principal Payments 0.00 219.61 0.00 0.00 11.50
-----------------------------------------------------------------------------------
Closing Outstanding Principal Balance 2,000.00 5,937.37 5,500.00 7,000.00 3,001.10
Total Interest 10.03 29.45 25.94 33.69 15.44
Total Premium 0.00 0.00 0.00 0.00 0.00
- ---------------------------------------------------------------------------------------------------------------------------------
</TABLE>
- ----------------------------------------------------------------------------
(b) FIXED RATE CERTIFICATES
Class C Class D
Opening Principal Amount 3,665.25 4,000.00
Total Principal Payments 101.97 0.00
-----------------------------------------
Outstanding Principal Balance 3,563.28 4,000.00
Total Interest 24.89 36.25
Total Premium 0.00 0.00
- ----------------------------------------------------------------------------
<PAGE>
Particulars of the Portfolio as of October 31, 1999
(except for Appraised Values which are as of
February 5, 1999) are contained in the table below.
AIRPLANES GROUP PORTFOLIO ANALYSIS
<TABLE>
Appraised
Value at
Date of February
Aircraft Engine Serial Manufacture/ 5, 1999
Region Country Lessee Type Configuration Number Conversion (US$000's)
- ------ ------- ------ ---- ------------- ------ ---------- --------
<S> <C> <C> <C> <C> <C> <C> <C>
Africa Tunisia Nouvelair Tunisie MD83 JT8D-219 49442 29-Apr-87 17,843
Africa Tunisia Nouvelair Tunisie MD83 JT8D-219 49624 1-Aug-88 19,040
Africa Tunisia Nouvelair Tunisie MD83 JT8D-219 49672 1-Jul-88 19,110
Asia & Far East Pakistan Pakistan Int. Airline A300-B4-203 CF6-50C2 269 11-Aug-83 11,710
Asia & Far East Indonesia PT Mandala Airlines B737-200A JT8D-17A 23023 30-Mar-83 6,621
Asia & Far East China Xiamen B737-200QC JT8D-17A 23066 9-Dec-83 8,037
Asia & Far East India Jet Airways B737-400 CFM56-3C1 24345 1-Jun-89 24,201
Asia & Far East South Korea Asiana Airlines B737-400 CFM56-3C1 24493 14-Jul-89 23,186
Asia & Far East South Korea Asiana Airlines B737-400 CFM56-3C1 24520 21-Dec-89 23,877
Asia & Far East India Jet Airways B737-400 CFM56-3C1 24687 25-May-90 25,043
Asia & Far East Philippines Philippine Airlines B737-300 CFM56-3B1 24770 1-Oct-90 21,551
Asia & Far East China China Southern B737-500 CFM56-3C1 24897 26-Feb-91 18,383
Asia & Far East Malaysia Air Asia B737-300 CFM56-3C1 24907 1-Mar-91 23,420
Asia & Far East China China Southern B737-500 CFM56-3C1 25182 3-Feb-92 19,937
Asia & Far East China China Southern B737-500 CFM56-3C1 25183 14-Feb-92 19,896
Asia & Far East China China Southern B737-500 CFM56-3C1 25188 12-Mar-92 19,905
Asia & Far East India Jet Airways B737-500 CFM56-3C1 25191 10-Apr-92 19,742
Asia & Far East China Xinjiang B757-200 RB211-
535E4-37 26156 25-Nov-92 39,296
Asia & Far East Taiwan Far Eastern Air Transport MD83 JT8D-219 49950 1-Nov-91 22,480
Australia & New Zealand Australia National Jet Systems DHC8-100 PW121 229 1-Sep-90 5,920
Australia & New Zealand New Zealand Air Nelson METRO-III TPE331-11 705 1-Aug-88 1,273
Australia & New Zealand New Zealand Air Nelson METRO-III TPE331-11 711 1-Mar-88 1,270
Australia & New Zealand New Zealand Air Nelson METRO-III TPE331-11 712 1-Jun-88 1,250
Europe Ireland Transaer International A300-B4-100 CF6-50C2 12 20-May-75 5,193
Europe Ireland Transaer International A300-B4-100 CF6-50C2 20 1-Oct-75 5,393
Europe Turkey MNG Airlines A300-C4-203 CF6-50C2 83 1-May-79 15,520
Europe United Kingdom Titan Airways ATR42-300 PW120 109 14-Oct-88 5,488
Europe United Kingdom Titan Airways ATR42-300 PW120 113 18-Nov-88 5,524
Europe Ireland Transaer International A300-B4-203 CF6-50C2 131 7-Feb-81 10,630
Europe France Air France A320-200 CFM56-5A3 203 1-Sep-91 28,103
Europe France Air France A320-200 CFM56 220 1-Sep-91 28,630
Europe Netherlands Schreiner Airways DHC8-300 PW123 244 1-Dec-90 7,492
Europe Israel Aeroel Airways DHC8-300A PW123 266 20-Mar-91 8,108
Europe Israel Aeroel Airways DHC8-300A PW123 267 4-Apr-91 8,087
Europe Netherlands Schreiner Airways DHC8-300A PW123 276 13-May-91 8,084
Europe Netherlands Schreiner Airways DHC8-300A PW123 283 1-Sep-91 8,058
Europe Norway Wideroe's Flyveselskap a/s DHC8-300 PW123 293 1-Oct-91 8,242
Europe United Kingdom Airtours International A320-200 CFM56 294 2-Apr-92 29,630
Europe United Kingdom Brymon Airways DHC8-300A PW123 296 1-Oct-91 8,239
Europe Netherlands Schreiner Airways DHC8-300A PW123 298 1-Apr-92 8,411
Europe Netherlands Schreiner Airways DHC8-300A PW123 300 1-Apr-92 8,401
Europe United Kingdom Airtours International A320-200 CFM56 301 22-Apr-92 29,401
Europe United Kingdom Brymon Airways DHC8-300 PW123 334 8-Oct-92 8,881
Europe United Kingdom Airtours International A320-200 CFM56 348 17-Jun-92 29,052
Europe United Kingdom Airtours International A320-200 CFM56-5A3 349 30-Oct-92 29,680
Europe Hungary Malev B737-200A JT8D-17A 22803 14-Feb-83 6,399
Europe Hungary Malev B737-200A JT8D-17A 22804 1-Feb-83 6,374
Europe Spain Air Europa B737-300 CFM56-3B2 23923 1-Apr-88 20,057
Europe Turkey Istanbul B737-400 CFM56-3C1 24683 7-Aug-90 24,418
Europe Turkey Pegasus B737-400 CFM56-3C1 24684 1-Apr-90 24,519
Europe Ireland Aer Lingus B737-400 CFM56-3C1 24689 3-Jul-90 24,517
Europe Ireland Aer Lingus B737-400 CFM56-3C1 24690 1-Jul-90 24,642
Europe Turkey Istanbul B737-400 CFM56-3C1 24691 9-Aug-90 24,525
Europe Netherlands Transavia B737-300 CFM56-3C1 24905 1-Feb-91 23,380
Europe Spain Air Europa B737-400 CFM56-3C1 24906 24-Feb-91 24,561
Europe Spain Air Europa B737-400 CFM56-3C1 24912 14-Jun-91 25,007
Europe Turkey Turk Hava Yollari B737-400 CFM56-3C1 24917 24-Jun-91 24,999
Europe Italy Air One SpA B737-300 CFM56-3C1 25179 12-Feb-92 24,596
Europe Ireland Aer Lingus B737-400 CFM56-3C1 25180 21-Jan-92 25,930
Europe Turkey Turk Hava Yollari B737-400 CFM56-3C1 25181 3-Feb-92 26,322
Europe Turkey Turk Hava Yollari B737-400 CFM56-3C1 25184 2-Mar-92 25,847
Europe United Kingdom British Midland B737-500 CFM56-3C1 25185 18-Feb-92 19,741
Europe Italy Air One SpA B737-300 CFM56-3C1 25187 14-Mar-92 24,279
Europe Austria Rheintalflug DHC8-300 PW123 307 1-Dec-91 8,120
Europe Norway Wideroe's Flyveselskap a/s DHC8-300 PW123 342 1-Dec-92 8,921
Europe Turkey Sun Express B737-400 CFM56-3C1 25190 7-Apr-92 26,404
Europe Turkey Turk Hava Yollari B737-400 CFM56-3C1 25261 9-Apr-92 25,988
Europe Turkey Turk Hava Yollari B737-500 CFM56-3C1 25288 16-Jun-92 19,363
Europe Turkey Turk Hava Yollari B737-500 CFM56-3C1 25289 12-Jun-92 19,373
Europe Turkey Turk Hava Yollari B737-400 CFM56-3C1 26065 1-May-92 26,064
Europe Hungary Malev B737-400 CFM56-3C1 26069 2-Nov-92 26,895
Europe Hungary Malev B737-400 CFM56-3C1 26071 13-Nov-92 26,882
Europe Turkey Pegasus B737-400 CFM56-3C1 26081 10-Mar-93 27,790
Europe Sweden Britannia Airways AB B757-200 RB2110-
535E4-37 26151 23-Jul-92 40,413
Europe Italy Eurofly MD83 JT8D-219 49390 1-Apr-86 17,664
Europe Germany Estago Anlagen-Vermietungs MD83 JT8D-219 49620 1-Jul-88 18,678
Europe Spain Spanair MD83 JT8D-219 49626 22-Oct-88 19,278
Europe Italy Eurofly MD83 JT8D-219 49631 14-Jun-89 19,467
Europe Spain Spanair MD83 JT8D-219 49709 1-Dec-88 19,219
Europe Italy Meridiana SpA MD83 JT8D-219 49792 1-Nov-89 20,338
Europe Italy Meridiana SpA MD83 JT8D-219 49935 26-Sep-90 21,829
Europe Spain Spanair MD83 JT8D-219 49936 6-Oct-90 22,724
Europe Spain Spanair MD83 JT8D-219 49938 1-Dec-90 21,457
Europe France Air Liberte S.A. MD83 JT8D-219 49943 1-Jul-91 22,307
Europe Italy Meridiana SpA MD83 JT8D-219 49951 25-Aug-91 21,679
Europe Netherlands Schreiner Airways DHC8-300 PW123 232D 20-Oct-90 7,385
Latin America Antigua Liat DHC8-100 PW120-A 140 1-Mar-89 4,515
Latin America Antigua Liat DHC8-100 PW120-A 144 1-Mar-89 5,052
Latin America Netherlands Antilles ALM DHC8-300C PW123 230 1-Feb-91 8,067
Latin America Netherlands Antilles ALM DHC8-300C PW123 242 1-Nov-90 8,102
Latin America Antigua Liat DHC8-100 PW120-A 270 1-May-91 5,536
Latin America Mexico Mexicana F100 TAY650-15 11266 17-Aug-90 13,453
Latin America Brazil TAM (Meridionais) F100 TAY650-15 11284 31-Jul-90 13,265
Latin America Brazil TAM (Meridionais) F100 TAY650-15 11285 1-Aug-90 13,242
Latin America Brazil TAM F100 TAY650-15 11304 27-Feb-91 14,045
Latin America Brazil TAM F100 TAY650-15 11305 19-Apr-91 14,290
Latin America Mexico Mexicana F100 TAY650-15 11309 16-May-91 14,328
Latin America Mexico Mexicana F100 TAY650-15 11319 5-Apr-91 14,473
Latin America Brazil TAM F100 TAY650-15 11336 5-Jun-91 14,534
Latin America Mexico Mexicana F100 TAY650-15 11339 1-Jul-91 14,230
Latin America Brazil TAM (Meridionais) F100 TAY650-15 11347 1-Oct-91 15,124
Latin America Brazil TAM (Meridionais) F100 TAY650-15 11348 6-Aug-91 14,325
Latin America Brazil TAM F100 TAY650-15 11371 19-Dec-91 15,023
Latin America Mexico Mexicana F100 TAY650-15 11374 20-Jan-92 15,243
Latin America Mexico Mexicana F100 TAY650-15 11375 1-Dec-92 15,433
Latin America Mexico Mexicana F100 TAY650-15 11382 1-Jan-93 15,447
Latin America Mexico Mexicana F100 TAY650-15 11384 1-Jan-93 15,387
Latin America Argentina Aerolineas Argentinas B737-200A JT8D-17 21192 1-Mar-76 4,346
Latin America Argentina LAPA B737-200A JT8D-17 21193 1-Jul-76 4,522
Latin America Argentina LAPA B737-200A JT8D-17 21196 1-Jul-76 4,512
Latin America Mexico Mexicana B727-200A JT8D-17R 21346 1-Oct-80 3,308
Latin America Mexico Mexicana B727-200A JT8D-17R 21600 1-Nov-80 4,855
Latin America Argentina LAPA B737-200A JT8D-15 22278 19-Mar-80 5,463
Latin America Argentina LAPA B737-200A JT8D-15 22368 1-Sep-80 5,658
Latin America Argentina LAPA B737-200A JT8D-15 22369 1-Sep-80 5,838
Latin America Chile Lan Chile Airlines B737-200A JT8D-15 22397 1-Feb-81 6,233
Latin America Chile Lan Chile Airlines B737-200A JT8D-17A 22407 1-Sep-80 5,978
Latin America Argentina LAPA B737-200A JT8D-15 22633 1-Mar-81 6,868
Latin America Chile Lan Chile Airlines B737-200A JT8D-17A 23024 1-May-83 6,652
Latin America Argentina LAPA B737-200QC JT8D-17A 23065 15-Oct-96 7,447
Latin America Brazil Transbrasil B767-300ER PW4060 24948 19-Jul-91 60,297
Latin America Brazil Rio Sul B737-500 CFM56-3C1 25186 11-Mar-92 19,664
Latin America Brazil Rio Sul B737-500 CFM56-3C1 25192 14-Apr-92 19,671
Latin America Brazil Rio Sul B737-500 CFM56-3C1 26075 23-Oct-92 19,960
Latin America Colombia Avianca B757-200 RB211-
535E4-37 26154 22-Sep-92 38,717
Latin America Mexico Aeromexico B767-300ER PW4060 26204 1-Oct-92 64,252
Latin America Chile Aircraft International Leasing DC8-71F CFM56-2C1 45810 9-Apr-92 15,067
Latin America Colombia Tampa DC8-71F CFM56-2C1 45849 9-Mar-91 15,473
Latin America Colombia Tampa DC8-71F CFM56-2C1 45945 19-May-92 14,259
Latin America Chile Aircraft International Leasing DC8-71F CFM56-2C1 45970 15-Oct-92 15,411
Latin America Chile Aircraft International Leasing DC8-71F CFM56-2C1 45976 10-Aug-91 15,553
Latin America Chile Aircraft International Leasing DC8-71F CFM56-2C1 45996 29-Oct-92 15,500
Latin America Colombia Tampa DC8-71F CFM56-2C1 46066 24-Apr-91 15,357
Latin America Mexico Aeromexico DC9-32 JT8D-17 48125 1-Apr-80 4,767
Latin America Mexico Aeromexico DC9-32 JT8D-17 48126 1-Apr-80 4,816
Latin America Mexico Aeromexico DC9-32 JT8D-17 48127 1-Jul-80 5,193
Latin America Mexico Aeromexico DC9-32 JT8D-17 48128 1-Aug-80 4,933
Latin America Mexico Aeromexico DC9-32 JT8D-17 48129 1-Nov-80 5,243
Latin America Mexico Aeromexico DC9-32 JT8D-17 48130 1-Dec-80 5,278
Latin America Brazil VARIG MD11 CF6-80C2-D1F 48499 31-Dec-91 71,527
Latin America Brazil VARIG MD11 CF6-80C2-D1F 48500 1-Mar-92 73,717
Latin America Brazil VARIG MD11 CF6-80C2-D1F 48501 1-Sep-92 74,714
Latin America Mexico Aeromexico MD82 JT8D-217 49660 1-Mar-88 18,180
Latin America Mexico Aeromexico MD82 JT8D-217A 49667 21-Jan-88 16,742
Latin America Mexico Aeromexico MD87 JT8D-219 49673 1-Dec-88 13,435
Latin America Trinidad & Tobago BWIA International MD83 JT8D-219 49789 23-Sep-89 20,370
Latin America Colombia Avianca MD83 JT8D-219 49939 26-Oct-90 21,158
Latin America Colombia Avianca MD83 JT8D-219 49946 18-Jul-91 21,968
Latin America Colombia Avianca MD83 JT8D-219 53120 29-Jul-92 23,108
Latin America Colombia Avianca MD83 JT8D-219 53125 2-Apr-92 23,247
Latin America Antigua Liat DHC8-102 PW120-A 113D 1-Sep-88 4,397
Latin America Colombia ACES ATR42-320 PW121-5A1 284T 1-Jan-92 6,480
North America United States of Ame Emery Worldwide DC8-71F CFM56-2C1 45997 7-Dec-93 15,537
North America Canada Canadian Airlines A320-200 CFM56-5A1 174 1-Apr-91 27,541
North America Canada Canadian Airlines A320-200 CFM56-5A1 175 1-Apr-91 27,494
North America Canada Canadian Airlines A320-200 CFM56-5A1 232 1-Oct-91 27,907
North America United States of Ame Idefix ATR42-300 PW120 249 1-Jun-91 6,736
North America United States of Ame Allegheny Airlines DHC8-100 PW121 258 1-Jan-91 5,928
North America Canada Canadian Airlines A320-200 CFM56-5A1 284 9-Mar-92 29,143
North America Canada Canadian Airlines A320-200 CFM56-5A1 309 13-May-92 28,981
North America Canada Canadian Airlines A320-200 CFM56-5A1 404 1-Jan-94 31,569
North America Canada Canadian Airlines(1) B737-200A JT8D-9A 20922 1-Aug-74 1,552
North America Canada Canadian Airlines(1) B737-200A JT8D-9A 20958 1-Jan-75 1,773
North America Canada Canadian Airlines(1) B737-200A JT8D-9A 20959 1-Nov-74 1,773
North America Canada Canadian Airlines(1) B737-200A JT8D-9A 21115 1-Dec-75 2,273
North America Canada Canadian Airlines(1) B737-200A JT8D-9A 21639 1-Nov-78 3,208
North America Canada Canadian Airlines(1) B737-200A JT8D-9A 21712 1-Feb-79 3,587
North America United States of America Tower Air (1) B747-200BC JT9D-7Q 21730 7-Jun-79 36,806
North America United States of America Vanguard Airlines B737-200A JT8D-15 21735 1-Jun-79 6,037
North America Canada Canadian Airlines(1) B737-200A JT8D-9A 22873 1-Jul-82 6,945
North America United States of America Vanguard Airlines B737-200A JT8D-15 22979 1-Mar-83 7,232
North America United States of America Frontier B737-300 CFM56-3B1 23177 1-Apr-86 17,398
North America United States of America America West B737-300 CFM56-3B1 23499 1-Jun-86 19,447
North America United States of America America West B737-300 CFM56-3B1 23500 1-Jun-86 19,347
North America United States of America BAX Global DC8-71F CFM56-2C1 45811 30-May-91 14,967
North America United States of America BAX Global DC8-71F CFM56-2C1 45813 28-Apr-92 15,587
North America United States of America BAX Global DC8-71F CFM56-2C1 45946 23-Apr-92 15,043
North America United States of America BAX Global DC8-71F CFM56-2C1 45971 13-Feb-92 14,897
North America United States of America BAX Global DC8-71F CFM56-2C1 45973 27-Feb-92 14,833
North America United States of America BAX Global DC8-71F CFM56-2C1 45978 23-Apr-93 15,487
North America United States of America BAX Global DC8-71F CFM56-2C1 45993 23-Jun-93 15,327
North America United States of America BAX Global DC8-71F CFM56-2C1 45994 1-Sep-94 15,017
North America United States of America BAX Global DC8-71F CFM56-2C1 45998 21-May-93 14,685
North America United States of America BAX Global DC8-71F CFM56-2C1 46065 12-Jan-92 15,553
North America United States of America Hawaiian Airlines DC9-51 JT8D-17 47742 1-Jun-77 4,153
North America United States of America Hawaiian Airlines DC9-51 JT8D-17 47784 1-May-79 4,293
North America United States of America Hawaiian Airlines DC9-51 JT8D-17 47796 1-Apr-79 4,635
North America United States of America Hawaiian Airlines DC9-51 JT8D-17 48122 26-Jan-81 5,194
North America United States of America TWA MD83 JT8D-219 49575 1-Oct-87 19,064
North America United States of America American Airlines MD-83 JT8D-219 49941 1-Dec-90 21,510
North America United States of America American Airlines MD-83 JT8D-219 49949 5-Aug-91 22,422
Others Cyprus Fornax Aircraft Leasing B737-200A JT8D-17 21685 1-Jan-79 5,580
Others Kazakstan Air Kazakstan B737-200A JT8D-15 22090 1-May-80 6,594
Others Ukraine Aerosweet Airlines B737-200A JT8D-15 22453 1-Mar-81 5,819
Others Ukraine Ukraine International B737-200A JT8D-17A 22802 1-Feb-83 6,142
Others Czech Republic Travel Servis B737-400 CFM56-3C1 24911 1-Apr-91 25,675
Off Lease Lease - Avianca (2) B767-200ER PW4056 25421 14-Jan-92 49,330
Off Lease LOI - Balkan Bulgarian Airlines B737-300 CFM56-3B2 23749 1-May-87 18,801
Off Lease LOI - Emery Worldwide( 3) DC8-73CF CFM56-2C1 46091 1-Dec-89 19,656
Off Lease LOI - TWA (3) B767-300ER PW4060 25411 15-Jan-92 63,059
Off Lease Off Lease B767-300ER PW4060 26200 1-Sep-92 64,025
---------
3,494,399
---------
</TABLE>
Note:
(1) Aircraft Lease Receivable Book Values are used for the Aircraft subject to
Finance Leases (8 in total) rather than the Appraised Values of these
Aircraft.
(2) This Aircraft is subject to a lease but was not delivered to the lessee at
October 31, 1999.
(3) "LOI" denoted Aircraft subject to a non-binding letter of intent with a
particular Lessee.
Exhibit B
Attached hereto is a true and correct copy of a Power of Attorney given
by each of the persons signatory thereto.
/s/ John Banes
--------------
John Banes
<PAGE>
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 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 occurrence 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.
<PAGE>
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
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/ John Banes
--------------
John Banes
<PAGE>
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. Trust, 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 occurrence
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.
<PAGE>
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
