The FAA has backed away from placing restrictions on non-citizen owner trust registrations of aircraft, according to NBAA and NATA. The FAA on April 30 stopped issuing new aircraft registrations in cases where the registration was to be held by an owner trust with a non-U.S. citizen as the trust beneficiary, citing safety concerns. NBAA, NATA and other aviation groups quickly teamed with other affected parties and last Monday sent an industry letter to FAA Administrator Randy Babbitt and chief counsel David Grizzle to convey the negative consequences such a decision would have on the business aviation industry, resulting in delayed transactions and the potential for sales to be halted. NBAA president and CEO Ed Bolen then met with Grizzle and other officials last week. In response to the industry’s “urgent concerns,” the FAA issued a letter clarifying that the agency continues to process registration involving non-citizen owner trust registrations and that it is not challenging the registration of aircraft currently registered under non-citizen owner trusts. According to NATA, the FAA is now following the same process in issuing registrations for trusts that was in place before April 30, when the restrictions began.
FAA Now Processing Trust Registrations Again
- May 18, 2010, 12:11 PM