FAA Moving To Clarify Non-Citizen Trusts
After submitting comments to the FAA last month regarding Non-U.S. Citizen Trust (NCT) aircraft registration, an industry coalition that includes most general aviation groups is calling for a meeting with the agency to reach a mutually agreeable policy.
In 2010, the FAA announced a moratorium on NCTs that the industry claimed would have significantly harmed the aviation industry. An aviation working group that includes major airframers, financial institutions, law firms and other affected parties sent a letter to the FAA expressing the harmful consequences such a decision would have on the industry by delaying and even halting transactions. In response to the industry’s urgent concerns, the FAA issued a letter clarifying that the agency would continue to process registrations involving NCTs and that it is not challenging the registration of aircraft currently listed under NCTs.
All U.S.-registered aircraft, whether operating in the states or abroad, must comply with applicable safety regulations. Some operations with aircraft registered under non-citizen trusts have not met minimum safety requirements and this proposed policy clarification is intended to help the FAA in its oversight responsibilities.