Mr jmc man, since you seem to know about these things could you explain how the finance for an AOC should actually happen?
As I understand it, for an AOC you should have full finance in place for the first three months of operation without revenue.
I.e. Now Airlines could not get an AOC if the finance covered the proving flight only. Contingent finance would therefore not satisfy an AOC.
Elucidate, explain, expand and just please put some of us out of our misery.