Aviation Industry Stabilization and Reform Act of 2002

[AI summary unavailable — showing source text] Aviation Industry Stabilization and Reform Act of 2002 - Amends Federal transportation law to extend through calendar 2003 the authority of the Secretary of Transportation to declare an air carrier a victim of terrorism not liable for third party claims arising out of acts of terrorism. Grants the Secretary authority to extend through calendar 2003 the termination date of any insurance policy issued to an air carrier. Extends the period for applying for certain loan guarantees under the Air Transportation Safety and System Stabilization Act. Requires the Under Secretary for Transportation Security, after all cockpit doors are strengthened, to reconsider and report to Congress on whether it is necessary to require Federal air marshals to be seated in the first class cabin of an aircraft with strengthened cockpit doors. Requires the Under Secretary to: (1) undertake action necessary to improve the screening of mail so that it can be carried on passenger flights; and (2) reimburse air carriers for certain screening and related activities as well as the cost of fortifying cockpit doors. Prohibits the Transportation Security Administration and the Federal Aviation Administration from is…