Warner Featured in AP Video and Article − “FAA Loses Track of 119,000 Planes”
On December 10, Lane Powell Shareholder David Warner was featured in an Associated Press (“AP“) video titled “FAA Loses Track of 119,000 Planes.” Warner is a member of the Board of Directors and serves as the General Counsel for the National Aircraft Finance Association (“NAFA”). The video stated that The Federal Aviation Administration (“FAA”) claimed to have lost track of nearly 119,000 airplanes in the U.S., and as a result has ordered all owners of the 357,000 private jets in the U.S. to re-register their aircraft. According to the FAA, these 119,000 U.S. planes have “questionable registration” because of missing forms, invalid addresses, unreported sales or other paperwork problems. In the video Warner said,
Even if you know who the aircraft owners are, there are many, many ways for ownership to be disguised [and] for the smugglers to buy the planes through any number of fronts, cutthroats and so forth. And so, you [can] have absolutely accurate ownership and registration information, but still [have] the aircraft easily being used by people who have bad intent.
He was also quoted in an AP article regarding the news. In the article, Warner comments on the FAA’s exaggeration of danger regarding the issue. “The threat of people wanting to do us harm is very real, but the focus on re-registration or stale registration data on aircraft is not where the risk is likely to be,” he said.
In addition, NPR quoted Warner in an article titled “FAA: Key Data Missing on 119,000 Aircraft in U.S.”
Banks and finance companies that hold loans used to buy planes will be among those hardest hit, said David Warner, general counsel for the National Aircraft Finance Association. A bank’s claim to an aircraft is often tied to the FAA registration, so lenders are having to hire more staff and buy computer systems to track hundreds of aircraft registrations, Warner said.
NPR broadcast the FAA article on the radio as well.