<PAGE>   1
[AIRCRAFT INFORMATION SERVICES, INC. LOGO]                          Exhibit 99.1


                               Airplanes Limited
                              22 Grenville Street
                                   St. Helier
                                     Jersey

                              Airplanes U.S. Trust
                            1100 North Market Street
                              Rodney Square North
                              Wilmington, Delaware
                                      USA

                                AerFi Group plc
                                 Aviation House
                                    Shannon
                                    Ireland

                             Bankers Trust Company
                                4 Albany Street
                               New York, New York
                                      USA

                       Morgan Stanley & Co. Incorporated
                                 1585 Broadway
                               New York, New York
                                      USA

--------------------------------------------------------------------------------

          Half Life and Adjusted Base and Current Market Value Opinion
                         201 Aircraft - AIRPLANES Fleet

                            AISI File No.: A0S010BVO

                             Date: 18 February 2000
                         Values as of: 18 February 2000

      Headquarters, 26072 Merit Circle, Suite 123, Laguna Hills, CA 92653
         TEL: 949-582-8888  FAX: 949-582-8887  E-MAIL: AISINews@aol.com

<PAGE>   2
[AIRCRAFT
INFORMATION
SERVICES, INC.
LOGO]



18 February 2000


Airplanes Limited
22 Grenville Street
St. Helier
Jersey


Airplanes U.S. Trust
1100 North Market Street
Rodney Square North
Wilmington, Delaware
USA


AerFi Group plc
Aviation House
Shannon
Ireland


Bankers Trust Company
4 Albany Street
New York, New York
USA


Morgan Stanley & Co. Incorporated
1585 Broadway
New York, New York
USA


Subject:  Half Life and Adjusted Base and Current Market
          Value Opinion - 201 Aircraft.
          AISI File Number: A0S010BVO


Dear Sirs:

In response to your request, Aircraft Information Services, Inc. (AISI) is
pleased to offer our opinion to the above addresses of the half life and
adjusted base and current market values as of 18 February 2000 of the Fleet of
Aircraft as identified in Table I (the "Aircraft").

1.   METHODOLOGY AND DEFINITIONS

The standard terms of reference for commercial aircraft value are "half-life
base market value" and "half-life current market value" of an "average"
aircraft. Base value is a theoretical value that assumes a balanced market
while current market value is the value in the real market; both






      Headquarters, 26072 Merit Circle, Suite 123, Laguna Hills, CA 92653
      TEL: 949-582-8888     FAX: 949-582-8887    E-MAIL: AISINews@aol.com


<PAGE>   3

                                                                     [AISI LOGO]


18 February 2000
AISI File No. A0S010BVO
Page - 2 -


assume a hypothetical average aircraft condition. AISI value definitions are
consistent with the current definitions of the International Society of
Transport Trading (ISTAT), those of 01 January 1994. AISI is a member of that
organization and employs an ISTAT Certified and Senior Certified Aircraft
Appraiser.

AISI defines a "base value" as that of a transaction between equally willing
and informed buyer and seller, neither under compulsion to buy or sell, for a
single unit cash transaction with no hidden value or liability, and with supply
and demand of the sale item roughly in balance. Base values are typically given
for aircraft in "new" condition, "average half-life" condition, or in a
specifically described condition unique to a single aircraft at a specific
time. An "average" aircraft is an operable airworthy aircraft in average
physical condition and with average accumulated flight hours and cycles, with
clear title and standard unrestricted certificate of airworthiness, and
registered in an authority which does not represent a penalty to aircraft value
or liquidity, with no damage history and with inventory configuration and level
of modification which is normal for its intended use and age. AISI assumes
average condition unless otherwise specified in this report. "Half-life"
condition assumes that every component or maintenance service which has a
prescribed interval that determines its service life, overhaul interval or
interval between maintenance services, is at a condition which is one-half of
the total interval. It should be noted that AISI and ISTAT value definitions
apply to a transaction involving a single aircraft, and that transactions
involving more than one aircraft are often executed at considerable and highly
variable discounts to a single aircraft price, for a variety of reasons
relating to an individual buyer or seller.

AISI defines a "current market value", which is synonymous with the older term
"fair market value" as that value which reflects the real market conditions,
whether at, above or below the base value conditions. Assumption of a single
unit sale and definitions of aircraft condition, buyer/seller qualifications
and type of transaction remain unchanged from that of base value. Current
market value takes into consideration the status of the economy in which the
aircraft is used, the status of supply and demand for the particular aircraft
type, the value of recent transactions and the opinions of informed buyers and
sellers. Current market value assumes that there is no short term time
constraint to buy or sell.

AISI encourages the use of base values to consider historical trends, to
establish a consistent baseline for long term value comparisons and future
value considerations, or to consider how actual market values vary from
theoretical base values. Base values are less volatile than current market
values and tend to diminish regularly with time. Base values are normally
inappropriate to determine near term values. AISI encourages the use of current
market values to consider the probable near term value of an aircraft.
<PAGE>   4
                                                                          [LOGO]

18 February 2000
AISI File No. A0S010BVO
Page -3-


AISI determines an "adjusted market value" by determining the value of known
deviations from half-life condition, which may be better or worse than
half-life condition, and to account for better or worse than average physical
condition, and the inclusion of additional equipment, or absence of standard
equipment. Our opinion of the adjusted base values of the Aircraft are derived
from information and specifications supplied by AerFi Group plc. No physical
inspection of the Aircraft or their essential records was made by AISI for the
purposes of this report.

2.   VALUATION

Adjustments from half life have been applied based on the current maintenance
status of the Aircraft as indicated in the Aircraft Technical & Maintenance
Detail sheets supplied to AISI and in accordance with standard AISI methods.
Adjustments are calculated only where there is sufficient information to do so,
or where reasonable assumptions can be made.

With regard to airframe and gear maintenance, if no time between check/overhaul
(TBO) or time since check/overhaul (TSO) information was provided, and if the
total hours/cycles of the airframe do not exceed the TBO limits then the total
hours/cycles of the airframe were assumed to be the TSO. This was typical of
newer aircraft. If no information was provided and if the TSO could not be
calculated, then half life was assumed. With regard to the engines, due to the
limited information provided, all engines are considered to be in half life
condition.

All hours and cycle information provide for airframe, C Check, D Check, and
gear have been projected from the Aircraft Technical & Maintenance Detail sheet
dates to 18 February 2000 based on a daily utilization factor calculated for
each aircraft.

It is our considered opinion that the half life and adjusted base and current
market values of the Aircraft are as follows in Table I subject to the
assumptions, definitions, and disclaimers herein.

<PAGE>   5
                                     [LOGO]


18 February 2000
AISI File No. A0S010BVO
Page -4-

Unless otherwise agreed by Aircraft Information Services, Inc. (AISI) in
writing, this report shall be for the sole use of the client/addressee. This
report is offered as a fair and unbiased assessment of the subject aircraft or
equipment. AISI has no past, present, or anticipated future interest in the
subject aircraft or equipment. The conclusions and opinions expressed in this
report are based on published information, information provided by others,
reasonable interpretations and calculations thereof and are given in good faith.
Such conclusions and opinions are judgments that reflect conditions and values
which are current at the time of this report. The values and conditions reported
upon are subject to any subsequent change. AISI shall not be liable to any party
for damages arising out of reliance or alleged reliance on this report, or for
any parties action or failure to act as a result of reliance or alleged reliance
on this report.

Sincerely,

AIRCRAFT INFORMATION SERVICES, INC.

/s/ John D. McNicol
------------------------
John D. McNicol
Vice President
Appraisals & Forecasts

<PAGE>   6
                         ATTACHMENT I - Airplanes Fleet
                               AISI File A0S010BVO
                          Report Dated 18 February 2000
                          Values as of 18 February 2000

<TABLE>
<CAPTION>
                                                                                       Half Life                          Adjusted
                                                                                        Current                           Current
                                                                   Half Life           Market            Adjusted         Market
                                                                   Base Value          Value            Base Value         Value
                    Serial     Date of                   MTOW        Feb 2000          Feb 2000          Feb 2000         Feb 2000
 No  Aircraft Type  Number  Manufacturer   Engine Type   (Lbs)      US Dollars        US Dollars        US Dollars       US Dollars
 --  -------------  ------  ------------   -----------   -----      ----------        ----------        ----------       ----------
<S>  <C>            <C>     <C>            <C>          <C>      <C>             <C>                   <C>              <C>
  1  A300-B4-100        12     May-75        CF6-50C2   347,225      $5,080,000        $5,080,000        $4,800,000       $4,800,000
  2  A300-B4-100        20     Oct-75        CF6-50C2   347,225      $5,080,000        $5,080,000        $4,890,000       $4,890,000
  3  A300-B4-200       131     Feb-81        CF6-50C2   363,760      $8,320,000        $8,320,000        $8,460,000       $8,460,000
  4  A300-B4-200       269     Aug-83        CF6-50C2   363,760      $9,070,000        $9,070,000        $8,920,000       $8,920,000
  5  A300-C4-200        83     May-79        CF6-50C2   363,760     $13,070,000       $13,070,000       $13,890,000      $13,890,000
  6  A320-200          174     Apr-91       CFM56-5A1   166,446     $27,250,000       $27,250,000       $26,650,000      $26,650,000
  7  A320-200          175     Apr-91       CFM56-5A1   166,446     $27,250,000       $27,250,000       $26,980,000      $26,980,000
  8  A320-200          203     Sep-91       CFM56-5A3   169,754     $27,700,000       $27,700,000       $27,160,000      $27,160,000
  9  A320-200          220     Sep-91       CFM56-5A3   169,754     $27,700,000       $27,700,000       $27,160,000      $27,160,000
 10  A320-200          232     Oct-91       CFM56-5A1   166,446     $27,250,000       $27,250,000       $26,720,000      $26,720,000
 11  A320-200          284     Mar-92       CFM56-5A1   166,446     $28,530,000       $28,530,000       $28,060,000      $28,060,000
 12  A320-200          294     Apr-92       CFM56-5A3   169,754     $28,980,000       $28,980,000       $29,020,000      $29,020,000
 13  A320-200          301     Apr-92       CFM56-5A3   169,754     $28,980,000       $28,980,000       $28,930,000      $28,930,000
 14  A320-200          309     May-92       CFM56-5A1   166,446     $28,530,000       $28,530,000       $27,980,000      $27,980,000
 15  A320-200          348     Jun-92       CFM56-5A1   169,754     $28,680,000       $28,680,000       $28,740,000      $28,740,000
 16  A320-200          349     Oct-92       CFM56-5A3   169,754     $28,980,000       $28,980,000       $28,940,000      $28,940,000
 17  A320-200          404     Jan-94       CFM56-5A1   166,446     $31,700,000       $31,700,000       $31,500,000      $31,500,000
 18  ATR-42-300        109     Oct-88         P20        36,800      $4,780,000        $3,750,000        $4,800,000       $3,770,000
 19  ATR-42-300        113     Nov-88         PW120      36,800      $4,780,000        $3,750,000        $4,810,000       $3,780,000
 20  ATR-42-300        249     Jan-91         PW120      36,800      $6,340,000        $5,250,000        $6,360,000       $5,270,000
 21  ATR-42-300        284     Jan-92         PW121      36,800      $6,860,000        $5,750,000        $6,780,000       $5,670,000
 22  B727-200A       21346     Oct-80        JT8D-17R   190,500      $4,480,000        $4,870,000        $4,480,000       $4,870,000
 23  B727-200A       21600     Nov-80        JT8D-17R   190,500      $4,480,000        $4,870,000        $4,750,000       $5,140,000
 24  B737-200AH      20922     Aug-74        JT8D-9A    117,000      $4,510,000        $5,300,000        $4,550,000       $5,340,000
 25  B737-200AH      20958     Jan-75        JT8D-9A    117,000      $4,750,000        $5,550,000        $4,750,000       $5,550,000
 26  B737-200AH      20959     Feb-75        JT8D-9A    117,000      $4,750,000        $5,550,000        $4,750,000       $5,550,000
 27  B737-200AH      21115     Dec-75        JT8D-9A    117,000      $4,750,000        $5,550,000        $4,690,000       $5,490,000
 28  B737-200A       21192     Mar-76        JT8D-17    119,500      $4,210,000        $4,990,000        $4,190,000       $4,970,000
 29  B737-200A       21193     Jul-76        JT8D-17    119,500      $4,210,000        $4,990,000        $3,890,000       $4,670,000
 30  B737-200A       21196     Jul-76        JT8D-17    119,500      $4,210,000        $4,990,000        $3,850,000       $4,630,000
 31  B737-200AH      21639     Nov-78        JT8D-9A    117,000      $5,490,000        $6,300,000        $5,010,000       $5,820,000
</TABLE>
<PAGE>   7
                         ATTACHMENT I - Airplanes Fleet
                               AISI File A0S010BVO
                          Report Dated 18 February 2000
                          Values as of 18 February 2000

<TABLE>
<CAPTION>
                                                                                       Half Life                          Adjusted
                                                                                        Current                           Current
                                                                   Half Life           Market            Adjusted         Market
                                                                   Base Value          Value            Base Value         Value
                    Serial     Date of                   MTOW        Feb 2000          Feb 2000          Feb 2000         Feb 2000
 No  Aircraft Type  Number  Manufacturer   Engine Type   (Lbs)      US Dollars        US Dollars        US Dollars       US Dollars
 --  -------------  ------  ------------   -----------   -----      ----------        ----------        ----------       ----------
<S>  <C>            <C>     <C>            <C>          <C>      <C>             <C>                   <C>              <C>
 32  B737-200A       21685     Jan-79        JT8D-17    119,500      $5,010,000        $5,730,000        $5,260,000       $5,980,000
 33  B737-200AH      21712     Feb-79        JT8D-9A    117,000      $5,820,000        $6,540,000        $5,770,000       $6,490,000
 34  B737-200AH      21735     Jun-79        JT8D-15    119,500      $6,310,000        $7,030,000        $6,590,000       $7,310,000
 35  B737-200A       22278     Mar-80        JT8D-15    122,500      $5,250,000        $5,910,000        $4,850,000       $5,510,000
 36  B737-200A       22090     May-80        JT8D-15    119,500      $5,140,000        $5,800,000        $5,200,000       $5,860,000
 37  B737-200A       22368     Sep-80        JT8D-15    117,000      $5,050,000        $5,710,000        $4,930,000       $5,590,000
 38  B737-200A       22369     Sep-80        JT8D-15    117,000      $5,050,000        $5,710,000        $4,920,000       $5,580,000
 39  B737-200A       22407     Sep-80        JT8D-17A   124,500      $5,520,000        $6,180,000        $5,460,000       $6,120,000
 40  B737-200A       22397     Feb-81        JT8D-15    117,000      $5,400,000        $5,990,000        $5,310,000       $5,900,000
 41  B737-200A       22453     Mar-81        JT8D-15    119,500      $5,490,000        $6,080,000        $5,920,000       $6,510,000
 42  B737-200A       22633     Mar-81        JT8D-15    121,500      $5,560,000        $6,150,000        $5,840,000       $6,430,000
 43  B737-200AH      22873     Jul-82        JT8D-9A    117,000      $6,830,000        $7,360,000        $6,770,000       $7,300,000
 44  B737-200A       22802     Feb-83        JT8D-17A   124,500      $6,530,000        $7,010,000        $7,010,000       $7,490,000
 45  B737-200A       22804     Feb-83        JT8D-17A   124,500      $6,530,000        $7,010,000        $5,910,000       $6,390,000
 46  B737-200A       22803     Feb-83        JT8D-17A   124,500      $6,530,000        $7,010,000        $6,180,000       $6,660,000
 47  B737-200AH      22979     Mar-83        JT8D-15    117,000      $7,560,000        $8,040,000        $7,820,000       $8,300,000
 48  B737-200A       23023     Mar-83        JT8D-17A   117,000      $6,260,000        $6,740,000        $5,900,000       $6,380,000
 49  B737-200A       23024     May-83        JT8D-17A   117,000      $6,260,000        $6,740,000        $6,630,000       $7,110,000
 50  B737-200QC      23065     Jun-83        JT8D-17A   124,500      $7,680,000        $8,160,000        $8,160,000       $8,640,000
 51  B737-200QC      23066     Dec-83        JT8D-17A   124,500      $7,680,000        $8,160,000        $7,580,000       $8,060,000
 52  B737-300        23177     Apr-86       CFM56-3B1   135,000     $18,420,000       $18,420,000       $18,040,000      $18,040,000
 53  B737-300        23749     May-87       CFM56-3B2   138,500     $19,730,000       $19,730,000       $20,210,000      $20,210,000
 54  B737-300        23923     Apr-88       CFM56-3B2   138,500     $20,460,000       $20,460,000       $20,010,000      $20,010,000
 55  B737-300        24770     Oct-90       CFM56-3B1   135,000     $21,650,000       $21,650,000       $21,080,000      $21,080,000
 56  B737-300        24905     Feb-91       CFM56-3C1   136,500     $23,400,000       $23,400,000       $23,440,000      $23,440,000
 57  B737-300        24907     Mar-91       CFM56-3C1   130,000     $23,110,000       $23,110,000       $23,030,000      $23,030,000
 58  B737-300        25179     Feb-92       CFM56-3C1   138,500     $24,570,000       $24,570,000       $24,070,000      $24,070,000
 59  B737-300        25187     Mar-92       CFM56-3C1   138,500     $24,570,000       $24,570,000       $24,000,000      $24,000,000
 60  B737-300QC      23499     Jun-86       CFM56-3B1   138,500     $20,080,000       $20,080,000       $20,130,000      $20,130,000
 61  B737-300QC      23500     Jun-86       CFM56-3B1   135,000     $19,920,000       $19,920,000       $19,970,000      $19,970,000
 62  B737-400        24345     Jun-89       CFM56-3C1   138,500     $23,300,000       $23,300,000       $23,690,000      $23,690,000
</TABLE>
<PAGE>   8
                         ATTACHMENT I - Airplanes Fleet
                               AISI File A0S010BVO
                          Report Dated 18 February 2000
                          Values as of 18 February 2000

<TABLE>
<CAPTION>
                                                                                       Half Life                          Adjusted
                                                                                        Current                           Current
                                                                   Half Life           Market            Adjusted         Market
                                                                   Base Value          Value            Base Value         Value
                    Serial     Date of                   MTOW        Feb 2000          Feb 2000          Feb 2000         Feb 2000
 No  Aircraft Type  Number  Manufacturer   Engine Type   (Lbs)      US Dollars        US Dollars        US Dollars       US Dollars
 --  -------------  ------  ------------   -----------   -----      ----------        ----------        ----------       ----------
<S>  <C>            <C>     <C>            <C>          <C>      <C>             <C>                   <C>              <C>
 63  B737-400        24493     Jul-89       CFM56-3C1   142,500     $23,480,000       $23,480,000       $22,800,000      $22,800,000
 64  B737-400        24520     Dec-89       CFM56-3C1   142,500     $23,480,000       $23,480,000       $24,050,000      $24,050,000
 65  B737-400        24684     Apr-90       CFM56-3C1   150,000     $24,700,000       $24,700,000       $25,030,000      $25,030,000
 66  B737-400        24687     May-90       CFM56-3C1   150,000     $24,700,000       $24,700,000       $24,590,000      $24,590,000
 67  B737-400        24690     Jul-90       CFM56-3C1   150,000     $24,700,000       $24,700,000       $25,250,000      $25,250,000
 68  B737-400        24689     Jul-90       CFM56-3C1   150,000     $24,700,000       $24,700,000       $25,220,000      $25,220,000
 69  B737-400        24683     Aug-90       CFM56-3C1   150,000     $24,700,000       $24,700,000       $24,700,000      $24,700,000
 70  B737-400        24691     Aug-90       CFM56-3C1   150,000     $24,700,000       $24,700,000       $24,700,000      $24,700,000
 71  B737-400        24906     Feb-91       CFM56-3C1   142,500     $25,240,000       $25,240,000       $24,550,000      $24,550,000
 72  B737-400        24911     Apr-91       CFM56-3C1   150,000     $25,580,000       $25,580,000       $24,930,000      $24,930,000
 73  B737-400        24912     Jun-91       CFM56-3C1   142,500     $25,240,000       $25,240,000       $24,610,000      $24,610,000
 74  B737-400        24917     Jun-91       CFM56-3C1   150,000     $25,580,000       $25,580,000       $25,580,000      $25,580,000
 75  B737-400        25180     Jan-92       CFM56-3C1   150,000     $26,660,000       $26,660,000       $26,660,000      $26,660,000
 76  B737-400        25181     Feb-92       CFM56-3C1   150,000     $26,660,000       $26,660,000       $25,900,000      $25,900,000
 77  B737-400        25184     Mar-92       CFM56-3C1   150,000     $26,660,000       $26,660,000       $26,660,000      $26,660,000
 78  B737-400        25190     Apr-92       CFM56-3C1   150,000     $26,660,000       $26,660,000       $26,020,000      $26,020,000
 79  B737-400        25261     Apr-92       CFM56-3C1   150,000     $26,660,000       $26,660,000       $25,970,000      $25,970,000
 80  B737-400        26065     May-92       CFM56-3C1   150,000     $26,660,000       $26,660,000       $25,870,000      $25,870,000
 81  B737-400        26069     Nov-92       CFM56-3C1   150,000     $26,660,000       $26,660,000       $26,010,000      $26,010,000
 82  B737-400        26071     Nov-92       CFM56-3C1   150,000     $26,660,000       $26,660,000       $26,010,000      $26,010,000
 83  B737-400        26081     Mar-93       CFM56-3C1   150,000     $28,140,000       $28,140,000       $27,430,000      $27,430,000
 84  B737-500        24897     Feb-91       CFM56-3C1   133,500     $19,660,000       $20,560,000       $19,000,000      $19,900,000
 85  B737-500        25182     Feb-92       CFM56-3C1   133,500     $20,610,000       $21,560,000       $20,090,000      $21,040,000
 86  B737-500        25183     Feb-92       CFM56-3C1   133,500     $20,610,000       $21,560,000       $20,110,000      $21,060,000
 87  B737-500        25185     Feb-92       CFM56-3C1   133,500     $20,610,000       $21,560,000       $20,240,000      $21,190,000
 88  B737-500        25186     Mar-92       CFM56-3C1   133,500     $20,610,000       $21,560,000       $19,920,000      $20,870,000
 89  B737-500        25188     Mar-92       CFM56-3C1   133,500     $20,610,000       $21,560,000       $20,080,000      $21,030,000
 90  B737-500        25191     Apr-92       CFM56-3C1   133,500     $20,610,000       $21,560,000       $20,140,000      $21,090,000
 91  B737-500        25192     Apr-92       CFM56-3C1   133,500     $20,610,000       $21,560,000       $20,070,000      $21,020,000
 92  B737-500        25289     Jun-92       CFM56-3C1   133,500     $20,610,000       $21,560,000       $20,610,000      $21,560,000
 93  B737-500        25288     Jun-92       CFM56-3C1   133,500     $20,610,000       $21,560,000       $20,610,000      $21,560,000
</TABLE>
<PAGE>   9
                         ATTACHMENT I - Airplanes Fleet
                               AISI File A0S010BVO
                          Report Dated 18 February 2000
                          Values as of 18 February 2000

<TABLE>
<CAPTION>
                                                                                       Half Life                          Adjusted
                                                                                        Current                           Current
                                                                   Half Life           Market            Adjusted         Market
                                                                   Base Value          Value            Base Value         Value
                    Serial     Date of                   MTOW        Feb 2000          Feb 2000          Feb 2000         Feb 2000
 No  Aircraft Type  Number  Manufacturer   Engine Type   (Lbs)      US Dollars        US Dollars        US Dollars       US Dollars
 --  -------------  ------  ------------   -----------   -----      ----------        ----------        ----------       ----------
<S>  <C>            <C>     <C>            <C>          <C>      <C>             <C>                   <C>              <C>
 94  B737-500        26075     Oct-92       CFM56-3C1   133,500     $20,610,000       $21,560,000       $20,090,000      $21,040,000
 95  B747-200F       21730     Jun-79        JT9D-7Q    833,000     $33,410,000       $25,340,000       $33,410,000      $25,340,000
 96  B757-200Etop    26151     Jul-92      RB211-535E4  250,000     $41,340,000       $39,750,000       $41,080,000      $39,490,000
 97  B757-200Etop    26154     Sep-92      RB211-535E4  230,000     $40,140,000       $38,550,000       $40,040,000      $38,450,000
 98  B757-200Etop    26156     Nov-92      RB211-535E4  240,000     $40,740,000       $39,150,000       $40,610,000      $39,020,000
 99  B767-200ER      25421     Jan-92         PW4056    387,000     $49,210,000       $45,540,000       $49,660,000      $45,990,000
100  B767-300ER      24948     Jul-91         PW4060    407,000     $60,150,000       $54,940,000       $60,460,000      $55,250,000
101  B767-300ER      25411     Jan-92         PW4060    407,000     $63,230,000       $57,990,000       $63,240,000      $58,000,000
102  B767-300ER      26200     Jul-92         PW4060    407,000     $63,230,000       $57,990,000       $63,180,000      $57,940,000
103  B767-300ER      26204     Oct-92         PW4060    407,000     $63,230,000       $57,990,000       $63,280,000      $58,040,000
104  DC8-71F         45813     Jan-67       CFM56-2C1   328,000     $14,540,000       $14,540,000       $14,730,000      $14,730,000
105  DC8-71F         45849     Apr-67       CFM56-2C1   328,000     $14,540,000       $14,540,000       $14,770,000      $14,770,000
106  DC8-71F         45810     Mar-68       CFM56-2C1   328,000     $14,590,000       $14,590,000       $14,390,000      $14,390,000
107  DC8-71F         45811     Jul-66       CFM56-2C1   328,000     $14,490,000       $14,490,000       $14,390,000      $14,390,000
108  DC8-71F         45945     Mar-68       CFM56-2C1   328,000     $14,590,000       $14,590,000       $15,300,000      $15,300,000
109  DC8-71F         45946     Mar-68       CFM56-2C1   328,000     $14,590,000       $14,590,000       $14,590,000      $14,590,000
110  DC8-71F         45970     Mar-68       CFM56-2C1   328,000     $14,590,000       $14,590,000       $14,550,000      $14,550,000
111  DC8-71F         45971     May-68       CFM56-2C1   328,000     $14,590,000       $14,590,000       $14,040,000      $14,040,000
112  DC8-71F         45973     May-68       CFM56-2C1   328,000     $14,590,000       $14,590,000       $13,840,000      $13,840,000
113  DC8-71F         45976     Jul-68       CFM56-2C1   328,000     $14,590,000       $14,590,000       $14,510,000      $14,510,000
114  DC8-71F         45978     Jul-68       CFM56-2C1   328,000     $14,590,000       $14,590,000       $14,540,000      $14,540,000
115  DC8-71F         45993     Aug-68       CFM56-2C1   328,000     $14,590,000       $14,590,000       $14,440,000      $14,440,000
116  DC8-71F         45994     Aug-68       CFM56-2C1   328,000     $14,590,000       $14,590,000       $14,350,000      $14,350,000
117  DC8-71F         45996     Oct-68       CFM56-2C1   328,000     $14,590,000       $14,590,000       $14,380,000      $14,380,000
118  DC8-71F         45998     Oct-68       CFM56-2C1   328,000     $14,590,000       $14,590,000       $13,830,000      $13,830,000
119  DC8-71F         45997     Sep-68       CFM56-2C1   328,000     $14,590,000       $14,590,000       $14,510,000      $14,510,000
120  DC8-71F         46066     May-69       CFM56-2C1   328,000     $14,640,000       $14,640,000       $14,590,000      $14,590,000
121  DC8-71F         46065     Jun-69       CFM56-2C1   328,000     $14,640,000       $14,640,000       $14,830,000      $14,830,000
122  DC8-73CF        46091     Apr-70       CFM56-2C1   355,000     $16,950,000       $16,950,000       $17,440,000      $17,440,000
123  DC9-32          48125     Apr-80        JT8D-17    108,000      $5,620,000        $4,480,000        $5,230,000       $4,090,000
124  DC9-32          48126     Apr-80        JT8D-17    108,000      $5,620,000        $4,480,000        $5,150,000       $4,010,000
</TABLE>
<PAGE>   10
                         ATTACHMENT I - Airplanes Fleet
                               AISI File A0S010BVO
                          Report Dated 18 February 2000
                          Values as of 18 February 2000

<TABLE>
<CAPTION>
                                                                                       Half Life                          Adjusted
                                                                                        Current                           Current
                                                                   Half Life           Market            Adjusted         Market
                                                                   Base Value          Value            Base Value         Value
                    Serial     Date of                   MTOW        Feb 2000          Feb 2000          Feb 2000         Feb 2000
 No  Aircraft Type  Number  Manufacturer   Engine Type   (Lbs)      US Dollars        US Dollars        US Dollars       US Dollars
 --  -------------  ------  ------------   -----------   -----      ----------        ----------        ----------       ----------
<S>  <C>            <C>     <C>            <C>          <C>      <C>             <C>                   <C>              <C>
125  DC9-32          48127     Jul-80        JT8D-17    108,000      $5,620,000        $4,480,000        $5,320,000       $4,180,000
126  DC9-32          48128     Aug-80        JT8D-17    108,000      $5,620,000        $4,480,000        $5,370,000       $4,230,000
127  DC9-32          48129     Nov-80        JT8D-17    108,000      $5,620,000        $4,480,000        $5,420,000       $4,280,000
128  DC9-32          48130     Dec-80        JT8D-17    108,000      $5,620,000        $4,480,000        $5,550,000       $4,410,000
129  DC9-51          47742     May-77        JT8D-17    121,000      $4,980,000        $3,760,000        $4,940,000       $3,720,000
130  DC9-51          47796     Mar-79        JT8D-17    121,000      $5,360,000        $4,130,000        $5,290,000       $4,060,000
131  DC9-51          47784     Mar-79        JT8D-17    121,000      $5,360,000        $4,130,000        $5,040,000       $3,810,000
132  DC9-51          48122     Oct-80        JT8D-17    121,000      $5,550,000        $4,310,000        $5,780,000       $4,540,000
133  DHC8-100          113     Sep-88        PW120-A     34,500      $4,320,000        $3,990,000        $4,310,000       $3,980,000
134  DHC8-100          140     Mar-89        PW120-A     34,500      $4,700,000        $4,350,000        $4,700,000       $4,350,000
135  DHC8-100          144     Mar-89        PW120-A     34,500      $4,700,000        $4,350,000        $4,660,000       $4,310,000
136  DHC8-100          229     Sep-90         PW121      34,500      $5,080,000        $4,710,000        $5,130,000       $4,760,000
137  DHC8-100          258     Jan-91         PW121      34,500      $5,460,000        $5,070,000        $5,440,000       $5,050,000
138  DHC8-100          270     May-91        PW120-A     34,500      $5,460,000        $5,070,000        $5,390,000       $5,000,000
139  DHC8-300          232     Oct-90         PW123      41,100      $6,740,000        $5,540,000        $6,730,000       $5,530,000
140  DHC8-300          244     Dec-90         PW123      41,000      $6,740,000        $5,540,000        $6,760,000       $5,560,000
141  DHC8-300          266     Mar-91         PW123      43,000      $7,400,000        $6,200,000        $7,410,000       $6,210,000
142  DHC8-300          267     Apr-91         PW123      43,000      $7,400,000        $6,200,000        $7,400,000       $6,200,000
143  DHC8-300          276     May-91         PW123      43,000      $7,400,000        $6,200,000        $7,410,000       $6,210,000
144  DHC8-300          298     Apr-92         PW123      43,000      $8,000,000        $6,800,000        $8,010,000       $6,810,000
145  DHC8-300          300     Apr-92         PW123      43,000      $8,000,000        $6,800,000        $8,030,000       $6,830,000
146  DHC8-300          283     Sep-91         PW123      43,000      $7,400,000        $6,200,000        $7,730,000       $6,530,000
147  DHC8-300          293     Oct-91         PW123      43,000      $7,400,000        $6,200,000        $7,410,000       $6,210,000
148  DHC8-300          296     Oct-91         PW123      43,000      $7,400,000        $6,200,000        $7,410,000       $6,210,000
149  DHC8-300          307     Dec-91         PW123      43,000      $7,400,000        $6,200,000        $7,450,000       $6,250,000
150  DHC8-300          334     Oct-92         PW123      43,000      $8,000,000        $6,800,000        $8,020,000       $6,820,000
151  DHC8-300          342     Dec-92         PW123      43,000      $8,000,000        $6,800,000        $8,060,000       $6,860,000
152  DHC8-300C         230     Oct-90         PW123      43,000      $7,800,000        $6,600,000        $7,810,000       $6,610,000
153  DHC8-300C         242     Nov-90         PW123      43,000      $7,800,000        $6,600,000        $7,800,000       $6,600,000
154  F100            11284     Jul-90       TAY650-15    98,000     $12,550,000       $11,550,000       $12,530,000      $11,530,000
155  F100            11285     Aug-90       TAY650-15    98,000     $12,550,000       $11,550,000       $12,510,000      $11,510,000
</TABLE>
<PAGE>   11
                         ATTACHMENT I - Airplanes Fleet
                               AISI File A0S010BVO
                          Report Dated 18 February 2000
                          Values as of 18 February 2000

<TABLE>
<CAPTION>
                                                                                       Half Life                          Adjusted
                                                                                        Current                           Current
                                                                   Half Life           Market            Adjusted         Market
                                                                   Base Value          Value            Base Value         Value
                    Serial     Date of                   MTOW        Feb 2000          Feb 2000          Feb 2000         Feb 2000
 No  Aircraft Type  Number  Manufacturer   Engine Type   (Lbs)      US Dollars        US Dollars        US Dollars       US Dollars
 --  -------------  ------  ------------   -----------   -----      ----------        ----------        ----------       ----------
<S>  <C>            <C>     <C>            <C>          <C>      <C>             <C>                   <C>              <C>
156  F100            11266     Aug-90       TAY650-15    98,000     $12,550,000       $11,550,000       $12,770,000      $11,770,000
157  F100            11304     Feb-91       TAY650-15    98,000     $13,650,000       $12,650,000       $13,630,000      $12,630,000
158  F100            11319     Apr-91       TAY650-15    98,000     $13,650,000       $12,650,000       $13,470,000      $12,470,000
159  F100            11305     Apr-91       TAY650-15    98,000     $13,650,000       $12,650,000       $13,640,000      $12,640,000
160  F100            11309     May-91       TAY650-15    98,000     $13,650,000       $12,650,000       $13,510,000      $12,510,000
161  F100            11336     Jun-91       TAY650-15    98,000     $13,650,000       $12,650,000       $13,850,000      $12,850,000
162  F100            11339     Jul-91       TAY650-15    98,000     $13,650,000       $12,650,000       $13,900,000      $12,900,000
163  F100            11348     Aug-91       TAY650-15    98,000     $13,650,000       $12,650,000       $13,650,000      $12,650,000
164  F100            11347     Oct-91       TAY650-15    98,000     $13,650,000       $12,650,000       $13,740,000      $12,740,000
165  F100            11371     Dec-91       TAY650-15    98,000     $13,650,000       $12,650,000       $13,590,000      $12,590,000
166  F100            11374     Jan-92       TAY650-15    98,000     $14,750,000       $13,750,000       $14,560,000      $13,560,000
167  F100            11382     Mar-92       TAY650-15    98,000     $14,750,000       $13,750,000       $14,560,000      $13,560,000
168  F100            11384     Mar-92       TAY650-15    98,000     $14,750,000       $13,750,000       $14,580,000      $13,580,000
169  F100            11375     Feb-92       TAY650-15    98,000     $14,750,000       $13,750,000       $14,580,000      $13,580,000
170  MD11            48499     Dec-91      CF6-80C2D1F  618,000     $68,100,000       $57,980,000       $66,600,000      $56,480,000
171  MD11            48500     Mar-92      CF6-80C2D1F  618,000     $71,390,000       $61,480,000       $69,880,000      $59,970,000
172  MD11            48501     Sep-92      CF6-80C2D1F  618,000     $71,390,000       $61,480,000       $70,160,000      $60,250,000
173  MD-82           49667     Jan-88       JT8D-217A   149,500     $18,730,000       $16,730,000       $19,210,000      $17,210,000
174  MD-82           49660     Mar-88        JT8D-217   149,500     $18,730,000       $16,730,000       $19,110,000      $17,110,000
175  MD-83           49390     Apr-86        JT8D-219   160,000     $18,450,000       $16,550,000       $18,830,000      $16,930,000
176  MD-83           49442     Apr-87        JT8D-219   160,000     $19,200,000       $17,350,000       $19,340,000      $17,490,000
177  MD-83           49575     Oct-87        JT8D-219   160,000     $19,200,000       $17,350,000       $19,590,000      $17,740,000
178  MD-83           49620     Jul-88        JT8D-219   159,999     $19,930,000       $18,130,000       $19,250,000      $17,450,000
179  MD-83           49672     Jul-88        JT8D-219   160,000     $19,930,000       $18,130,000       $20,240,000      $18,440,000
180  MD-83           49624     Aug-88        JT8D-219   160,000     $19,930,000       $18,130,000       $20,420,000      $18,620,000
181  MD-83           49626     Oct-88        JT8D-219   160,000     $19,930,000       $18,130,000       $19,950,000      $18,150,000
182  MD-83           49709     Dec-88        JT8D-219   160,000     $19,930,000       $18,130,000       $19,530,000      $17,730,000
183  MD-83           49631     Jun-89        JT8D-219   160,000     $20,800,000       $19,050,000       $20,220,000      $18,470,000
184  MD-83           49789     Sep-89        JT8D-219   160,000     $20,800,000       $19,050,000       $20,310,000      $18,560,000
185  MD-83           49792     Nov-89        JT8D-219   160,000     $20,800,000       $19,050,000       $20,250,000      $18,500,000
186  MD-83           49935     Sep-90        JT8D-219   160,000     $21,680,000       $19,980,000       $22,170,000      $20,470,000
</TABLE>
<PAGE>   12
                         ATTACHMENT I - Airplanes Fleet
                               AISI File A0S010BVO
                          Report Dated 18 February 2000
                          Values as of 18 February 2000

<TABLE>
<CAPTION>
                                                                                       Half Life                          Adjusted
                                                                                        Current                           Current
                                                                   Half Life           Market            Adjusted         Market
                                                                   Base Value          Value            Base Value         Value
                    Serial     Date of                   MTOW        Feb 2000          Feb 2000          Feb 2000         Feb 2000
 No  Aircraft Type  Number  Manufacturer   Engine Type   (Lbs)      US Dollars        US Dollars        US Dollars       US Dollars
 --  -------------  ------  ------------   -----------   -----      ----------        ----------        ----------       ----------
<S>  <C>            <C>     <C>            <C>          <C>      <C>             <C>                   <C>              <C>
187  MD-83           49936     Oct-90        JT8D-219   160,000     $21,680,000       $19,980,000       $22,070,000      $20,370,000
188  MD-83           49939     Oct-90        JT8D-219   160,000     $21,680,000       $19,980,000       $21,610,000      $19,910,000
189  MD-83           49938     Dec-90        JT8D-219   160,000     $21,680,000       $19,980,000       $21,210,000      $19,510,000
190  MD-83           49941     Dec-90        JT8D-219   160,000     $21,680,000       $19,980,000       $21,280,000      $19,580,000
191  MD-83           49943     Jul-91        JT8D-219   160,000     $22,560,000       $20,910,000       $22,140,000      $20,490,000
192  MD-83           49946     Jul-91        JT8D-219   160,000     $22,560,000       $20,910,000       $22,560,000      $20,910,000
193  MD-83           49949     Aug-91        JT8D-219   160,000     $22,560,000       $20,910,000       $21,890,000      $20,240,000
194  MD-83           49951     Aug-91        JT8D-219   160,000     $22,560,000       $20,910,000       $21,870,000      $20,220,000
195  MD-83           49950     Nov-91        JT8D-219   160,000     $22,560,000       $20,910,000       $22,230,000      $20,580,000
196  MD-83           53125     Apr-92        JT8D-219   160,000     $23,640,000       $22,040,000       $23,270,000      $21,670,000
197  MD-83           53120     Jul-92        JT8D-219   160,000     $23,640,000       $22,040,000       $23,340,000      $21,740,000
198  MD-87           49673     Dec-88        JT8D-219   149,000     $14,360,000       $13,360,000       $13,840,000      $12,840,000
199  METRO III         711     Mar-88       TPE331-11    16,000      $1,060,000          $750,000        $1,060,000         $750,000
200  METRO III         712     Jun-88       TPE331-11    16,000      $1,060,000          $750,000        $1,060,000         $750,000
201  METRO III         705     Aug-88       TPE331-11    16,000      $1,060,000          $750,000        $1,060,000         $750,000
                                                                 --------------    --------------    --------------   --------------

TOTALS                                                           $3,479,880,000    $3,343,690,000    $3,453,400,000   $3,317,210,000
                                                                 ==============    ==============    ==============   ==============
</TABLE>