There are 9 requirements listed in the Regulation governing the issuance of operating licences. The following conditions must be met by an undertaking before an operating licence can be granted (see Article 4 of Regulation (EC) No. 1008/2008):
- its principal place of business must be located in Ireland
- it must hold a valid AOC as issued by the Irish Aviation Authority
- it has one or more aircraft at its disposal through ownership or a dry lease agreement
- its main occupation is to operate air services in isolation or combined with any other commercial operation of aircraft or the repair and maintenance of aircraft
- its company structure allows the competent licensing authority to implement the provisions of the Regulation
- it meets the relevant ownership and control requirements of the Regulation
- it meets the financial conditions specified in Article 5 of the Regulation
- it complies with the insurance requirements specified in Article 11 of the Regulation and in Regulation (EC) No 785/2004
- it complies with the provisions on good repute as specified in Article 7 of the Regulation