• With: Lt. Cmdr. Adam Schantz

    This is a rush transcript from "On the Record," March 20, 2014. This copy may not be in its final form and may be updated.

    GRETA VAN SUSTEREN, FOX NEWS HOST: the world's most sophisticated search plane, the U.S. Navy P-8 "Poseidon," is desperately searching the Indian Ocean for potential debris.

    Lieutenant Commander Adam Schantz is the officer in charge of that mission. He joins us from Perth, Australia.

    Good evening, sir. Or good morning, I should say to you.

    ADAM SCHANTZ, LIEUTENANT COMMANDER, U.S. Navy (Via Phone): Good morning.

    (CROSSTALK)

    VAN SUSTEREN: What is the flying weather like right now?

    SCHANTZ: Right now, it's clear here. Low cloud ceilings on the search area. We are expecting good weather today and should be good conditions for a visual search.

    VAN SUSTEREN: What is so good about the P-8? I have been studying a little bit. It's a modified 737, as best I can see. Why it is the P-8 the ideal aircraft to do this search?

    SCHANTZ: It's reliable. It's fast. It gives an opportunity to cover a lot of ground out on station. We are able to cover roughly about 2500 miles of square miles of ocean per hour while route searching the op area.

    VAN SUSTEREN: Is it speed or is it something you have on board that allows you to have any sort of depth -- so you can detect something at some depth? Technological reasons why that plane or is it just speed?

    SCHANTZ: It's both. And we have sensors on board that allow us to search the ocean, both above and below water. We are concentrating our search now above-the-water search using non-acoustic sensors, such as radar, visual, both out the window and via a couple of series of electro- optical cameras and infrared cameras in the flight station.

    VAN SUSTEREN: In light of the fact that the area that's being searched about 1500 miles off the coast of Perth, if the flight takes off from Perth, it's going to take, what, about four hours to get there to the spot?

    SCHANTZ: Ma'am, it's taken us, depending on winds, three to three and a half hours out there, giving us roughly three hours of searching out in the op area before having to come back.

    VAN SUSTEREN: How much P-8s are in this operation?

    SCHANTZ: Right now, just one, ma'am.

    VAN SUSTEREN: So we are really sort of the luck of the draw. It's like looking for needle in the hay stack out there, isn't it?

    SCHANTZ: It is. We are looking at a search area that's somewhere over 200,000 square miles. A lot of area to cover.

    VAN SUSTEREN: Do you have any help? Any other nations have anything akin to the P-8 out there looking?

    SCHANTZ: Absolutely, ma'am. The Australians have two of their P-3s out here and New Zealand has a P-3, a AC-30, in addition to a whole host of other nations all providing assistance.

    VAN SUSTEREN: Right now, the weather is holding, and for the rest of the day, you are expecting good weather, because I know it's really lousy weather a little while ago.

    SCHANTZ: Yes, ma'am. Yesterday, we struggled with low ceilings. Today, we are expecting good weather. I talked with the folks at the Australian rescue center. They are predicting ceilings 1,000 to 1500 feet. A good opportunity today.

    VAN SUSTEREN: Lieutenant Commander, good luck. Thank you, sir.