Jake Hepple, 24, has had his employment at Paradigm Precision terminated even though police said "no criminal offences" were committed by his stunt.
Hepple's idea to fly the banner carrying that message was widely slammed by players and the footballing community in light of the Black Lives Matter movement.
But the Burnley fan said everything had been "blown out of proportion".
He told The Mail Online: "The police told me that I haven't committed any crime and haven't done anything wrong.
"In fact, they asked me if I was OK and wanted any protection, just in case people try to target me."
Hepple, who has previously been pictured with English Defence League founder Tommy Robinson, said he wasn't racist - and that he had "lots of Black and Asian friends".
He said: "We were not trying to offend the movement or black people. I believe that it's also important to acknowledge that white lives matter too. That's all we were trying to say."
Hepple had claimed responsibility for the stunt on Facebook just moments after the plane flew over the stadium, writing: "I'd like to take this time to apologise... to absolutely f***ing nobody!"