New low-cost hyperspectral frame sensors have created a new perspective for remote sensing applications. In this work, we investigate some issues related to the geometric calibration of a hyperspectral frame camera based of FPI (Fabry-Pérot Interferometer), the Rikola camera. The approach proposed in paper is to study the changes in internal optical path caused by the FPI and by the splitting prism. The aim is to model the changes in the IOPs with an analytical function and also to estimate the misalignments between sensors. Several experiments were performed. The changes in position of a specific point were analasyzed to confirm that the bundle of rays is deviated. A self-calibrating bundle adjustment was performed and the Interior Orientation Parameters (IOP) of each band were estimated. The IOPs were analysed and it was concluded that a single set of symmetrical radial distortion parameters can be used for all band. Also, the estimated parameters for each image band were analysed as a function of the air gap of the FPI interferometer. It was noticed some correlation between the focal length and the air gap, and an air-gap dependent model was estimated. Thus, instead of considering an IOP set for each band or for each sensor, a single set of distortion parameters and another set of parameters that is “air-gap dependent”, was assessed. Another important issue was the determination of the misalignment angles between the two sensors, which can explain some differences in the recovered camera trajectory when performing the bundle adjustment.