AERCO LIMITED
Report to Noteholders
All Amounts in US dollars unless otherwise stated
Month October-00
Payment Date 15th of each month
Convention Modified Following Business Day
Current Payment Date 16-Oct-00
Current Calculation Date 10-Oct-00
Previous Payment Date 15-Sep-00
Previous Calculation Date 11-Sep-00
<TABLE>
---------------------------------------------------------------------------------------------------
1. Account Activity Summary between Calculation Dates
---------------------------------------------------------------------------------------------------
Prior Deposits Withdrawals Balance on
Balance Calculation Date
11-Sep-00 10-Oct-00
---------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Expense Account 7,386,042.27 1,320,982.74 (2,886,386.22) 5,820,638.79
Collection Account 102,079,129.43 26,644,954.85 (20,871,129.43) 107,852,954.85
Aircraft Purchase Account 359,658,818.00 3,862,328.00 (137,557,339.33) 225,963,806.67
- Liquidity Reserve cash balance 81,208,000.00 - 84,716,609.00
---------------------------------------------------------------------------------------------------
Total 469,123,989.70 31,828,265.59 (161,314,854.98) 339,637,400.31
---------------------------------------------------------------------------------------------------
</TABLE>
2. Analysis of Aircraft Purchase Account Activity
<TABLE>
------------------------------------------------------------------------------
<S> <C>
Opening Balance on Previous Calculation Date 359,658,818.00
Interest Income 3,862,328.00
Aircraft Purchase Payments (135,998,489.00)
Economic Swap Payments (1,558,850.33)
------------------------------------------------------------------------------
Balance on current Calculation Date 225,963,806.67
------------------------------------------------------------------------------
3. Analysis of Expenses Account Activity
------------------------------------------------------------------------------
Opening Balance on Previous Calculation Date 7,386,042.27
Transfer from Collection Account on previous Payment Date 1,282,061.57
Permitted Aircraft Accrual -
Interim Transfer from Collection Account -
Transfers from Aircraft Purchase Account -
Interest Income 38,921.17
Balance on current Calculation Date
- Payments on previous payment date (849,643.36)
- Interim payments -
- Other (2,036,742.86)
------------------------------------------------------------------------------
Balance on current Calculation Date 5,820,638.79
------------------------------------------------------------------------------
4. Analysis of Collection Account Activity
------------------------------------------------------------------------------
Opening Balance on Previous Calculation Date 102,079,129.43
Collections during period 26,644,954.85
Transfer to Expense Account on previous Payment Date
- Required Expense Amount (1,100,152.54)
- Permitted Aircraft Modifications -
Net Swap payments on previous Payment Date (181,909.03)
Aggregate Note Payments on previous Payment Date (19,589,067.86)
------------------------------------------------------------------------------
Balance on current Calculation Date 107,852,954.85
------------------------------------------------------------------------------
Analysis of Liquidity Reserve Amount
First Collection Account Reserve 65,000,000.00
Cash Held
- Security Deposits 19,716,609.00
----------------
Liquidity Reserve Amount 84,716,609.00
----------------
</TABLE>
<PAGE>
AERCO LIMITED
Report to Noteholders
All Amounts in US dollars unless otherwise stated
--------------------------------------------------------------------------------
Current Payment Date 16-Oct-00
Current Calculation Date 10-Oct-00
Previous Payment Date 15-Sep-00
Previous Calculation Date 11-Sep-00
<TABLE>
--------------------------------------------------------------------------------
<S> <C>
Balance in Collection and Expense Account 113,673,593.64
Liquidity Reserve Amount (84,716,609.00)
------------------
Available Collections 28,956,984.64
==================
</TABLE>
<TABLE>
4. Analysis of Collection Account Activity (Continued)
----------------------------------------------------------------------------------------------------------------
Analysis of Current Payment Date Distributions
<S> <C> <C>
(I) Total Required Expense Amount 7,597,753.33
(II) a) Class A Interest but excluding Step-up 5,989,394.47
b) Swap Payments other than subordinated swap payments 292,238.52
(iii) First Collection Account top-up (Minimum liquidity reserve $30 m) 30,000,000.00
(iv) Class A Minimum principal payment -
(v) Class B Interest 993,515.74
(vi) Class B Minimum principal payment -
(vii) Class C Interest 1,174,443.15
(viii) Class C Minimum principal payment -
(ix) Class D Interest 638,579.32
(x) Class D Minimum principal payment -
(xi) Second collection account top-up 54,716,609.00
(xii) Class A Scheduled principal -
(xiii) Class B Scheduled principal 362,126.14
(xiv) Class C Scheduled principal 49,253.01
(xv) Class D Scheduled principal -
(xvi) Permitted accruals for Modifications
(xvii) Step-up interest -
(xviii) Class A Supplemental principal 9,576,127.26
(xix) Class E Primary Interest 2,283,553.69
(xx) Class B Supplemental principal -
(xxi) Class A Outstanding Principal -
(xxii) Class B Outstanding Principal -
(xxiii) Class C Outstanding Principal -
(xxiv) Class D Outstanding Principal -
(xxv) Subordinated Swap payments -
------------------
Total Payments with respect to Payment Date 113,673,593.64
less collection Account Top Ups (iii) (b) and (xi) (b) above 84,716,609.00
------------------
28,956,984.64
==================
</TABLE>
--------------------------------------------------------------------------------
<PAGE>
AERCO LIMITED
Report to Noteholders
All Amounts in US dollars unless otherwise stated
Current Payment Date 16-Oct-00
Current Calculation Date 10-Oct-00
Previous Payment Date 15-Sep-00
Previous Calculation Date 11-Sep-00
--------------------------------------------------------------------------------
<TABLE>
5. Payments on the Notes by Subclass
-------------------------------------------------------------------------------------------------
Subclass Subclass Subclass Total
Floating Rate Notes A-2 A-3 A-4 Class A
-------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Applicable LIBOR 6.62125% 6.62125% 6.62125%
Applicable Margin 0.3200% 0.4600% 0.5200%
Applicable Interest Rate 6.94125% 7.08125% 7.14125%
Day Count Act/360 Act/360 Act/360
Actual Number of Days 31 31 31
Interest Amount Payable - 3,445,224.83 1,375,088.67
Step-up Interest Amount Payable NA NA NA
=================================================================================================
Total Interest Paid 1,169,080.98 3,445,224.83 1,375,088.67 5,989,394.47
-------------------------------------------------------------------------------------------------
Expected Final Payment Date 15-Dec-05 15-Jun-02 15-May-11
Excess Amortisation Date 17-Aug-98 15-Feb-06 15-Aug-00
-------------------------------------------------------------------------------------------------
Original Balance 290,000,000.00 565,000,000.00 235,000,000.00
Opening Outstanding Principal
Balance 195,590,480.67 565,000,000.00 223,613,116.14 984,203,596.81
-------------------------------------------------------------------------------------------------
Extended Pool Factors 79.05% 100.00% 100.00%
Pool Factors 71.16% 100.00% 95.20%
-------------------------------------------------------------------------------------------------
Minimum Principal Payment - - - -
Scheduled Principal Payment - - - -
Supplemental Principal Payment 4,467,994.43 - 5,108,132.83 9,576,127.26
-------------------------------------------------------------------------------------------------
Total Principal Distribution Amount 4,467,994.43 - 5,108,132.83 9,576,127.26
-------------------------------------------------------------------------------------------------
Redemption Amount
- amount allocable to principal -
- amount allocable to premium
-------------------------------------------------------------------------------------------------
Closing Outstanding Principal
Balance 191,122,486.24 565,000,000.00 218,504,983.31 974,627,469.55
-------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
----------------------------------------------------------------------------------------
Subclass Subclass Total Subclass Subclass Total
B-1 B-2 Class B C-1 C-2 Class C
-----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Applicable LIBOR 6.62125% 6.62125% 6.62125% 6.62125%
Applicable Margin 0.6000% 1.0500% 1.3500% 2.0500%
Applicable Interest Rate 7.22125% 7.67125% 7.97125% 8.67125%
Day Count Act/360 Act/360 Act/360 Act/360
Actual Number of Days 31 31 31 31
Interest Amount Payable 465,051.86 528,463.89 577,164.23 597,278.92
Step-up Interest Amount Payable NA NA NA NA
=========================================------------------------------------------------
Total Interest Paid 465,051.86 528,463.89 993,515.74 577,164.23 597,278.92 1,174,443.15
------------------------------------- -----------------------------------------------------------------------------------------
Expected Final Payment Date 15-Jul-13 15-Jul-08 15-Jul-13 15/6.08
Excess Amortisation Date 17-Aug-98 15-Aug-00 17-Aug-98 15-Aug-00
-----------------------------------------------------------------------------------------
Original Balance 85,000,000.00 80,000,000.00 85,000,000.00 80,000,000.00
Opening Outstanding Principal Balance 74,787,636.35 80,000,000.00 154,787,636.35 84,084,082.02 79,990,108.41 164,074,190.43
------------------------------------- -------------============================------------------------------------------------
Extended Pool Factors 94.80% 100.00% 99.99% 100.00%
Pool Factors 89.64% 99.96% 98.70% 99.94%
------------------------------------- ------------- --------------------------------------------------------------------------
Minimum Principal Payment - - - - - -
Scheduled Principal Payment 159,504.69 202,621.45 362,126.14 40,991.42 8,261.59 49,253.01
Supplemental Principal Payment - - - - - -
------------------------------------- ------------- --------------------------------------------------------------------------
Total Principal Distribution Amount 159,504.69 202,621.45 362,126.14 40,991.42 8,261.59 49,253.01
------------------------------------- -----------------------------------------------------------------------------------------
Redemption Amount - -
- amount allocable to principal - -
- amount allocable to premium - -
------------------------------------- ------------------------------------------------------------------------------------------
Closing Outstanding Principal Balance 74,628,131.66 79,797,378.55 154,425,510.21 84,043,090.60 79,981,846.82 164,024,937.42
------------------------------------- --------------------------------------------- --------------------------------------------
</TABLE>
---------------------------------------------------
Fixed Rate Notes D-2
---------------------------------------------------
Applicable Interest Rate 8.50000%
Day count 30 / 360
Number of Days 30
Interest Amount Payable 638,579.32
---------------------------------------------------
Total Interest Paid 638,579.32
---------------------------------------------------
Expected Final Payment Date 15-Mar-14
Excess Amortisation Date 15-Jul-10
---------------------------------------------------
Original Balance 100,000,000.00
Opening Outstanding Principal Balance88,556,375.00
---------------------------------------------------
Extended Pool Factors 100.00%
Expected Pool Factors 100.00%
---------------------------------------------------
Extended Amount -
Expected Pool Factor Amount -
Surplus Amortisation
---------------------------------------------------
Total Principal Distribution Amount -
---------------------------------------------------
Redemption Amount -
- amount allocable to principal -
--------------
- amount allocable to premium -
---------------------------------------------------
Closing Outstanding Principal
Balance 88,556,375.00
<PAGE>
AERCO LIMITED
Report to Noteholders
All Amounts in US dollars unless otherwise stated
---------------------------------------------------
Current Payment Date 16-Oct-00
Current Calculation Date 10-Oct-00
Previous Payment Date 15-Sep-00
Previous Calculation Date 11-Sep-00
--------------------------------------------------------------------------------
6. Floating Rate Note information for next Interest Accrual Period
Start of Interest Accrual Period 16-Oct-00
End of Interest Accrual Period 15-Nov-00
Reference Date 9-Nov-00
<TABLE>
-----------------------------------------------------------------------------------------------------------
A-2 A-3 A-4 B-1 B-2 C-1 C-2
-----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Applicable LIBOR 6.62000% 6.62000% 6.62000% 6.62000% 6.62000% 6.62000% 6.62000%
Applicable Margin 0.3200% 0.4600% 0.5200% 0.6000% 1.0500% 1.3500% 2.0500%
Applicable Interest Rate 6.9400% 7.0800% 7.1400% 7.2200% 7.6700% 7.9700% 8.6700%
-----------------------------------------------------------------------------------------------------------
</TABLE>
----------------------------------------------------
Fixed Rate Notes D-1
----------------------------------------------------
Actual Pool Factor 100.00%
----------------------------------------------------
----------------------------------------------------------------------------
7. Payments per $ 100,000 Inital Outstanding Principal Balance of Notes
<TABLE>
---------------------------------------------------------------------------------------------------------------------------
(a) Floating Rate Notes A-2 A-3 A-4 B-1 B-2 C-1 C-2
---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Opening Outstanding Principal Balance 195,590.48 565,000.00 223,613.12 74,787.64 80,000.00 84,084.08 79,990.11
Total Principal Payments 4,467.99 - 5,108.13 159.50 202.62 40.99 8.26
Closing Outstanding Principal Balance 191,122.49 565,000.00 218,504.98 74,628.13 79,797.38 84,043.09 79,981.85
Total Interest 1,169.08 3,445.22 1,375.09 465.05 528.46 577.16 597.28
Total Premium 0.0000% 0.0000% 0.0000% 0.0000% 0.0000% 0.0000% 0.0000%
---------------------------------------------------------------------------------------------------------------------------
</TABLE>
----------------------------------------------------
(b) Fixed Rate Notes D-2
----------------------------------------------------
Opening Outstanding Principal Balance 88,556.38
Total Principal Payments -
Closing Outstanding Principal Balance 88,556.38
Total Interest 638.58
Total Premium -
----------------------------------------------------
