A bill to extend and expand the authority of the Secretary of Transportation to provide insurance and reinsurance to air carriers under title XIII of the Federal Aviation Act of 1958.

[AI summary unavailable — showing source text] Amends the Federal Aviation Act of 1958 to authorize the Secretary of Transportation, after consulting with the Secretaries of Defense and State and with the approval of the President, to provide insurance to air carriers for risks other than war risks if the Secretary finds that such insurance is unavailable in the commercial market on reasonable terms and conditions and if the President determines such insurance is needed to maintain air service required for reasons of foreign policy. Authorizes the Secretary to operate such expanded insurance program until May 7, 1981.…