87. An Airline Licence for domestic or international commercial air transportation

a citizen of Sri Lanka ;

a registered body of persons having its principal place of business in Sri Lanka and in which at least fifty-one per centum of the share capital is owned by citizens of Sri Lanka ; or

any person or body of persons approved by the

that the applicant holds a valid Air Operator

that the proposed domestic commercial air transport operations are financially secured by actual assets, bank guarantees or other security for a period not less than three years from the proposed launching of the services ;

that adequate and valid liability insurance cover as determined on the guidelines referred to in subsection (2) of section 75, is held for any damage that may arise out of its proposed operations ;

that an effective program drawn in accordance with the National Aviation Security Programme formulated by the Authority under section 17, for protection against unlawful interference with civil aviation is in place, which has been approved by the Director General ; and

that the applicant fulfills any other requirements as may be prescribed for that purpose.