What qualifications must a pilot have to act as pilot in command for compensation or hire?

To act as pilot in command for compensation or hire, a pilot must be qualified according to the regulations specified in 14 CFR part 61 and any other applicable regulations. This means that the pilot must meet the specific requirements outlined for commercial pilot operations, which may include holding the appropriate certification, meeting minimum flight experience, and meeting medical standards.

The regulations are designed to ensure that pilots have the necessary training, experience, and proficiency to safely operate aircraft in a commercial capacity, which is critical for passenger and cargo safety. Therefore, the qualification outlined in the correct answer encompasses all the regulatory criteria necessary for a pilot to legally operate as pilot in command when compensation is involved, making it the most definitive and inclusive choice.

In contrast, while holding a private pilot certificate may be a step in a pilot's career progression, it does not meet the requirements for commercial operations. The same applies for having 1,000 flight hours, as this is not a specified requirement for acting as pilot in command for hire, and holding an airline transport pilot certificate, while indicative of advanced qualifications, is not strictly necessary for all types of commercial flight operations.