Airplanes Group refers to Airplanes Limited, a limited liability company formed under the laws of Jersey, Channel Islands and Airplanes U.S. Trust, a Delaware business trust.
On March 28, 1996, we established eight separate pass through trusts to issue and sell $4,048 million in aggregate principal amount of subclass A-1, A-2, A-3, A-4 and A-5 and class B, C and D pass through certificates in an underwritten offering. We used the proceeds from this offering, together with the proceeds from the sale of the class E notes of Airplanes Limited and Airplanes U.S. Trust to GPA Group plc (now known as AerCap Ireland Limited), to acquire a portfolio of 229 aircraft from GPA Group and its subsidiaries. All aircraft have now been sold.
On March 16, 1998, we established four additional pass through trusts to issue and sell $2,437 million in aggregate principal amount of subclass A-6, A-7 and A-8 and class B certificates in connection with the refinancing of our subclass A-1, A-2 and A-3 and class B certificates. Our subclass A-5 certificates were fully repaid as of May 15, 1998.
On November 20, 1998, General Electric Capital Corporation ("GE Capital") acquired a majority of the class E notes from AerFi Group (previously known as GPA Group and now known as AerCap Ireland) and its subsidiaries. On November 15, 2010 GE Capital, as holder of all of the class E notes issued by Airplanes U.S. Trust, notified Airplanes U.S. Trust that, effective on that date, GE Capital discharged and released Airplanes U.S. Trust from any and all payment and other obligations thereunder. On October 21, 2011 GE Capital, as holder of class E notes issued by Airplanes Limited in the principal amount of $526,314,418, notified Airplanes Limited that, effective on that date, GE Capital discharged and released Airplanes Limited from any and all payment and other obligations thereunder.
We established an additional pass through trust on March 15, 2001 to issue and sell $750 million in aggregate principal amount of subclass A-9 certificates. We used the proceeds from this offering to refinance our subclass A-4 and A-7 certificates. Our subclass A-6 certificates were fully repaid as of October 15, 2004. Our subclass A-8 certificates were fully repaid (save for accrued step-up interest and accrued interest thereon) on November 15, 2010.
GE Capital Aviation Services Limited ("GECAS") previously provided various aircraft-related services to us as servicer under a servicing agreement. GECAS holds 5% of the ordinary share capital of our subsidiary, Airplanes Holdings Limited. Prior to the discharges and releases by GE Capital in respect of the class E notes referred to above, GE Capital had the right to appoint one director to the board of Airplanes Limited and one controlling trustee of Airplanes U.S. Trust.
Maples Fiduciary Servicers (Ireland) Limited serves as our administrative agent and cash manager.