Issuing or denying a certificate.

§ 119.39 Issuing or denying a certificate. (a) An applicant may be issued an Air Carrier Certificate or Operating Certificate if, after investigation, the Administrator finds that the applicant— (1) Meets the applicable requirements of this part; (2) Holds the economic authority applicable to the kinds of operations to be conducted, issued by the Department of Transportation, if required; and (3) Is properly and adequately equipped in accordance with the requirements of this chapter and is able to conduct a safe operation under appropriate provisions of part 121 or part 135 of this chapter and operations specifications issued under this part. (b) An application for a certificate may be denied if the Administrator finds that— (1) The applicant is not properly or adequately equipped or is not able to conduct safe operations under this subchapter; (2) The applicant previously held an Air Carrier Certificate or Operating Certificate which was revoked; (3) The applicant intends to or fills a key management position listed in § 119.65(a) or § 119.69(a), as applicable, with an individual who exercised control over or who held the same or a similar position with a certificate holder whose certificate was revoked, or is in the process of being revoked, and that individual materially contributed to the circumstances causing revocation or causing the revocation process; (4) An individual who will have control over or have a substantial ownership interest in the applicant had the same or similar control or interest in a certificate holder whose certificate was revoked, or is in the process of being revoked, and that individual materially contributed to the circumstances causing revocation or causing the revocation process; or (5) In the case of an applicant for an Operating Certificate for intrastate common carriage, that for financial reasons the applicant is not able to conduct a safe operation.