Economic requirements for air operator certification (AOC)

Requirements to be met for getting Air Operator Certificate are provided by the civil aviation regulation RAC-AOC "Air Operators Certificate" 02/June 2005 edition, approved by CAA No. 66/GEN of 28.06.2005, published in Official Journal No. 92-94/325 of 08.07.2005, as amended and supplemented.

AIR OPERATOR CERTIFICATION PROCEDURE
Economic evaluation of the applicant

AOC Initial Application

Economic requirements

Meeting economic requirements by the applicant

1.

Existence of bank confirmation regarding the solvency of the applicant and availability of sufficient funds. The extract of bank account.

2.

Demonstration of the financial sources availability sufficient for carrying out the proposed activity with no income for 6 months, but no less than 500 thousand MDL.

  • Financial results (income and expenses) monthly planned for next 6 months from the estimated date of the activity initiation;
  • Monthly cash flow forecasted for 6 months (receipts and payments) and achievement of Business Plan;
  • Possible covering sources of the estimated necessary financial resources;
  • Financial sources available to the entity (own or borrowed) identified by the applicant;
  • Structure and size of the own sources.

3.

Minimum statutory shareholding of 500 thousand MDL

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4.

Equity holding not less than the amount of statutory capital

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5.

Coherent program of ongoing support and/or development of own activity

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6.

Copy of insurance contracts available for third-party liability for each aircraft to operate, including:

  • Insurance certificate;
  • Confirming document regarding the whole payment of the insurance certificate;
  • Reinsurance agreement;
  • Letter of Undertaking.

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7.

Copies of insurance agreements available for aircraft load to operate.

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AOC validity extension / AOC amending

1.

Air operator report on the economic activity

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2.

Further economic activity plan

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3.

Proof of payment of the debt by the air operator to other aeronautical agents

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4.

Bank account extract. Existence of bank confirmation regarding the solvency of the applicant and availability of sufficient funds.

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5.

Demonstration of the financial resources availability sufficient for carrying out the proposed activity with no income for 6 months, but no less than 500 thousand MDL.

  • Annual financial report for the previous reporting period and/or the most frequent Balance sheet and Report of profit and loss of entity for the current reporting period (6 months, 9 months).

6.

Minimum statutory shareholding of 500 thousand MDL.

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7.

Equity holding not less than the amount of statutory capital.

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8.

Coherent program of ongoing support and/or development of own activity

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9.

Copy of insurance contracts available for third-party liability, passengers, baggage, mail for aircrafts that operate or will operate, including:

  • Insurance certificate;
  • Confirming document regarding the whole payment of the insurance certificate;
  • Reinsurance agreement;
  • Letter of Undertaking.

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10.

Copies of insurance agreements available for aircrafts.

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