Jetrader - November/December 2010 - 25

lender security and perfection could be lost, tax benefits would be impacted, and the business of U.S.-based aircraft finance as it presently exists would be fundamentally changed. A group of commercial and general aviation industry professionals took an unprecedented united front in response to the threat. A behind-the-scenes organizing effort brought attorneys, lenders, lessors, manufacturers and others to jointly sign letters and take other action expressing grave concern over the anticipated changes. They offered to work with the FAA in order to fashion a workable solution to the as-yet unidentified concern. They sought to ensure that any change to this longstanding practice was done with industry input, with full knowledge of the facts and was not unnecessarily broad in response to an isolated incident. At the same time, they prepared to challenge any unilateral move by the FAA to impose such changes without the required public review. In response, and in an effort to calm the waters, the FAA expressly disclaimed the existence of any moratorium and confirmed the status quo—for now—but noting that the matter remained under review. Unfortunately, as of the date of this writing, the FAA’s concerns remain unclear.

In Memory of

William Daniel Gardner

A behind-the-scenes organizing effort brought attorneys, lenders, lessors, manufacturers and others to jointly sign letters and take other action expressing grave concern over the anticipated changes.
Given what is at risk, ISTAT members and member companies must be mindful that this issue remains unresolved. The aviation community should be prepared to support and lead efforts to ensure that any move by the FAA to change the owner trust protocol is done not only with industry input, but also with our industry’s needs in mind. After all, it’s a matter of trust. Don Mitchell is a partner with the law firm of Smith, Gambrell & Russell, LLP and concentrates his practice in U.S. and cross-border aviation equipment finance transactions and litigation. Please e-mail any questions, comments or suggestions for future topics to: dbmitchell@sgrlaw.com.

W
ISTAT
Where does your Air Carrier fly?
AirLink is a web portal designed to link NonGovernmental Organizations and Air Carriers which can supply donated or discounted passenger and cargo transport. Visit www.airlink-istat.org to learn more about the International Society of Transport Aircraft Trading (ISTAT) AirLink program and how you can help.
Contact: Ty Prettyman, Program Director ty.prettyman@verizon.net

William Daniel Gardner, age 67, of WinstonSalem, N.C., died 14 August 2010, after a courageous fight with cancer. He was born 18 February 1943 in Washington, Pa., to the late Joseph Steele Gardner and Edna Heiner Gardner. Bill’s lifelong interest in aviation led him to acquiring his pilot’s license and to a successful career in the airline industry. He was employed by Piper Aircraft Corporation in Lock Haven, Pa., and Vero Beach, Fla., prior to joining Piedmont Aviation in 1974. He served as vice president of the Piper Division of Piedmont Aviation’s General Aviation Division before transferring to Piedmont Airlines where he was managing director of the Piedmont Commuter Program. With the acquisition of Piedmont by US Air, Bill left the company and founded Meridian Aerospace Group in 1989. Meridian and its divisions are widely known as worldwide brokers of aircraft. He was chairman and CEO of the Meridian Group. Bill’s memberships included the Quiet Birdman and the Wings Club of New York City. Bill was highly regarded in the ISTAT community and was a loyal member for many years.

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Endnotes
1 A “citizen of the United States” is defined at 49 U.S.C. §40102(a)(15) and means: “(A) an individual who is a citizen of the United States; (B) a partnership each of whose partners is an individual who is a citizen of the United States; or (C) a corporation or association organized under the laws of the United States or a State, the District of Columbia, or a territory or possession of the United States, of which the president and at least two-thirds of the board of directors and other managing officers are citizens of the United States, which is under the actual control of citizens of the United States, and in which at least 75 percent of the voting interest is owned or controlled by persons that are citizens of the United States.” 2 Owner Trusts – 14 C.F.R. §47.7; Voting Trusts – 14 C.F.R. §47. ©2010 Donald B. Mitchell

www.airlink-istat.org
A Humanitarian Initiative of the ISTAT Foundation

15_AirLink_Ad.indd 1

Jetrader 8:57:38 AM 9/29/10 25



Jetrader - November/December 2010

Table of Contents for the Digital Edition of Jetrader - November/December 2010

Jetrader - November/December 2010
A Message from the President
Table of Contents
Calendar/News
Q&A: Hussein Dabbas
Resource for Opportunity: Answers for Success
Thank You to ISTAT Sponsors
Moving Forward in Aircraft Financing
Aircraft Appraisals
From the ISTAT Foundation
Aviation History
A Matter of Trust
Advertiser.com/Advertiser Index
Jetrader - November/December 2010 - Jetrader - November/December 2010
Jetrader - November/December 2010 - Cover2
Jetrader - November/December 2010 - A Message from the President
Jetrader - November/December 2010 - 4
Jetrader - November/December 2010 - Table of Contents
Jetrader - November/December 2010 - 6
Jetrader - November/December 2010 - Calendar/News
Jetrader - November/December 2010 - Q&A: Hussein Dabbas
Jetrader - November/December 2010 - 9
Jetrader - November/December 2010 - Resource for Opportunity: Answers for Success
Jetrader - November/December 2010 - 11
Jetrader - November/December 2010 - 12
Jetrader - November/December 2010 - Thank You to ISTAT Sponsors
Jetrader - November/December 2010 - 14
Jetrader - November/December 2010 - Moving Forward in Aircraft Financing
Jetrader - November/December 2010 - 16
Jetrader - November/December 2010 - 17
Jetrader - November/December 2010 - 18
Jetrader - November/December 2010 - Aircraft Appraisals
Jetrader - November/December 2010 - 20
Jetrader - November/December 2010 - From the ISTAT Foundation
Jetrader - November/December 2010 - Aviation History
Jetrader - November/December 2010 - 23
Jetrader - November/December 2010 - A Matter of Trust
Jetrader - November/December 2010 - 25
Jetrader - November/December 2010 - Advertiser.com/Advertiser Index
Jetrader - November/December 2010 - Cover3
Jetrader - November/December 2010 - Cover4
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