EX-99 3 aft_0702ex991.txt MONTHLY REPORT TO NOTEHOLDERS Exhibit 99.1 AIRCRAFT FINANCE TRUST ASSET BACKED NOTES, SERIES 1999-1 MONTHLY REPORT TO NOTEHOLDERS All amounts in US dollars unless otherwise stated Payment Date 15th of each month Convention Modified Following Business Day Current Payment Date July 15, 2002 Current Calculation Date July 9, 2002 --------------------------------------------------------------------------------------------------------- 1. Account Activity Summary between Calculation Dates ---------------------------------------------------------------------------------------------------------

1 Net Transfers pursuant to Section 3.07 of the Trust Indenture (100,000.00) --------------------- Available Collections 62,132,018.85 --------------------- --------------------------------------------------------------------------------------------------------- 3. Analysis of Collection Account Activity (Continued) --------------------------------------------------------------------------------------------------------- Analysis of Current Payment Date Distributions (i) Required Expense Amount 359,728.25 (ii) (a) Class A Interest but excluding Step-up/Additional Interest 1,405,101.36 (b) Swap Payments other than subordinated swap payments 2,379,519.45 (iii) Repayment of Primary Eligible Credit Facilities - (iv) First Collection Account top-up 33,000,000.00 (v) Class A Minimum principal payment - (vi) Class B Interest 276,964.22 (vii) Repayment of Secondary Eligible Credit Facilities - (viii) Second collection account top-up 10,000,000.00 (ix) Class B Minimum principal payment - (x) Class C Interest 670,016.46 (xi) Repayment of Tertiary Eligible Credit Facilities - (xii) Third Collection Account top-up 5,000,000.00 (xiii) Class A Supplemental principal - (xiv) Class B Supplemental principal - (xv) Class C Minimum principal payment 2,333,659.37 (xvi) Class D Interest 585,369.19 (xvii) Repayment of Subordinate Eligible Credit Facilities - (xviii) Fourth Collection Account top-up 4,000,000.00 (xix) Class D Minimum principal payment 197,471.49 (xx) Expense Accrual 1,924,189.06 (xxi) Additional and Step-up Interest (a) Additional Interest - (b) Maturity Step-up Interest - (c) Registration Step-up Interest - (xxii) Class A Scheduled principal - (xxiii) Class B Scheduled principal - (xxiv) Class C Scheduled principal - (xxv) Class D Scheduled principal - (xxvi) Reimbursement of Beneficial Interest Cure Payments - (xxvii) Sale Premium (a) Class C - (b) Class D - (xxviii) Expense Account for Modification Accruals and Refinancing Payments - (xxix) Class A Outstanding Principal Balance - (xxx) Class B Outstanding Principal Balance - (xxxi) Class C Outstanding Principal Balance - (xxxii) Class D Outstanding Principal Balance - (xxxiii) Subordinated Swap Payments - (xxxiv) Additional Servicing Obligations - (xxxv) Remainder to Beneficial Interest - --------------------- 62,132,018.85

2 Analysis of Liquidity Reserve Amount First Collection Account Top-up 33,000,000.00 Second Collection Account Top-up 10,000,000.00 Third Collection Account Top-up 5,000,000.00 Fourth Collection Account Top-up 4,000,000.00 ------------------- Total Liquidity Reserve Amount 52,000,000.00 (52,000,000.00) Total Payments with respect to Payment Date --------------------- less Collection Account Top Ups (iv), (viii), (xii), and (xviii) above 10,132,018.85 --------------------- --------------------------------------------------------------------------------------------------------- 4. Payments on the Notes by Subclass --------------------------------------------------------------------------------------------------------- Subclass Subclass Class (a) Floating Rate Notes A-1 A-2 B --------------------------------------------------------------------------------------------------------- Applicable LIBOR 1.84000% 1.84000% 1.84000% Applicable Margin 0.48000% 0.50000% 1.15000% Applicable Interest Rate 2.32000% 2.34000% 2.99000% Actual Number of Days 28 28 28 Interest Amount Paid 924,777.78 480,323.58 276,964.22 Additional Interest Paid - - - Maturity Step-up Interest Amount Paid - - - Registration Step-up Interest Amount Paid - - - --------------------------------------------------------------------------------------------------------- Total Interest Paid 924,777.78 480,323.58 276,964.22 --------------------------------------------------------------------------------------------------------- Expected Final Payment Date May 15, 2004 June 15, 2008 May 15, 2016 Excess Amortization Date May 15, 2004 June 15, 1999 June 15, 1999 Original Balance 512,500,000.00 400,000,000.00 126,500,000.00 Opening Outstanding Principal Balance 512,500,000.00 263,914,052.48 119,095,937.52 Total Principal Distribution Amount - - - Redemption Amount: Amount allocable to principal - - - Amount allocable to premium - - - --------------------------------------------------------------------------------------------------------- Closing Outstanding Principal Balance 512,500,000.00 263,914,052.48 119,095,937.52 --------------------------------------------------------------------------------------------------------- Class Class (b) Fixed Rate Notes C D ------------------------------------------------------------------------------------ Applicable Interest Rate 8.00% 11.00% Number of Days 30 30 Interest Amount Payable 670,016.46 585,369.19 Additional Interest Paid - - Registration Step-up Interest Amount Paid - - ------------------------------------------------------------------------------------ Total Interest Paid 670,016.46 585,369.19 ------------------------------------------------------------------------------------ Expected Final Payment Date July 15, 2016 August 15, 2016 Excess Amortization Date July 15, 2016 May 15, 2009 Original Balance 106,000,000.00 64,000,000.00 Opening Outstanding Principal Balance 100,502,469.66 63,858,457.56 Total Principal Distribution Amount 2,333,659.37 197,471.49 3 Redemption Amount: Amount allocable to principal - - Amount allocable to premium - - ------------------------------------------------------------------------------------ Closing Outstanding Principal Balance 98,168,810.29 63,660,986.07 ------------------------------------------------------------------------------------ --------------------------------------------------------------------------------------------------------- 5. Floating Rate Note information for next Interest Accrual Period --------------------------------------------------------------------------------------------------------- Next Payment Date August 15, 2002 Next Calculation Date August 9, 2002 Reference Date July 11, 2002 Subclass Subclass Class A-1 A-2 B --------------------------------------------------------------------------------------------------------- Applicable LIBOR 1.83875% 1.83875% 1.83875% Applicable Margin 0.48000% 0.50000% 1.15000% Applicable Interest Rate 2.31875% 2.33875% 2.98875% --------------------------------------------------------------------------------------------------------- 6. Payments per $100,000 Initial Outstanding Principal Balance of Notes --------------------------------------------------------------------------------------------------------- Subclass Subclass Class (a) Floating Rate Notes A-1 A-2 B --------------------------------------------------------------------------------------------------------- Opening Outstanding Principal Balance 100,000.00 65,978.52 94,146.98 Total Principal Payments - - - --------------------------------------------------------------------------------------------------------- Closing Outstanding Principal Balance 100,000.00 65,978.52 94,146.98 Total Interest 180.44 120.08 218.94 Total Premium - - - --------------------------------------------------------------------------------------------------------- Class Class (b) Fixed Rate Notes C D ------------------------------------------------------------------------------------ Opening Outstanding Principal Balance 94,813.65 99,778.84 Total Principal Payments 2,201.57 308.55 ------------------------------------------------------------------------------------ Closing Outstanding Principal Balance 92,612.08 99,470.29 Total Interest 632.09 914.64 Total Premium - - ------------------------------------------------------------------------------------ Swap Payments to be made on the current Payment Date are included in the 'Analysis of Current Payment Date Distributions'. Swap Receipts to be received on the current Payment Date are considered a Collection and are included in the next Collection Period. The amount of Swap Receipts to be received on the current Payment Date are as follows: -

AIRCRAFT FINANCE TRUST 8-K