Additional certificate application requirements for commercial operators

When applying for an original operating certificate to conduct intrastate common carriage under Part 121 or 135, you must disclose detailed ownership and management information to the FAA.

Corporate applicants must identify all stockholders owning 5% or more (including beneficial owners), all directors and officers, key management personnel, and any controlling entities. Non-corporate applicants must list anyone with a financial interest and key managers.

You must also describe your intended operations, including any commercial service contracts. Part 121 applicants face additional requirements: submit comprehensive financial statements (balance sheet, liabilities, litigation claims), detailed six-month financial projections showing revenue and expenses, cash flow estimates, and insurance coverage details.

After applying, you must notify the FAA within 10 days of any changes to ownership/management information or (for Part 121) any financial changes that substantially worsen your financial position while your application is pending.

*This is a plain-English summary for study only. The official 14 CFR text on this page is controlling — always read the current regulation and consult a CFI.*