The registration of a foreign indirect air carrier may be canceled or subjected to additional terms, conditions or limitations if:
It files with the Department a written notice that it is discontinuing foreign indirect air carrier activities;
It fails to perform air transportation services as authorized;
It fails to file the reports required by this part;
A substantial ownership or control interest is acquired by persons who are not citizens of the country of citizenship of the registrant;
There is a failure of effective reciprocity; or
The Department finds that it is in the public interest to do so.