A bill to amend the Federal Aviation Act of 1958 in order to promote competition in international air cargo transportation, and for other purposes.

[AI summary unavailable — showing source text] Amends the Federal Aviation Act of 1958 to limit the authority of the Civil Aeronautics Board to find any rate for foreign air transportation of property unjust or unreasonable on the basis that such fare is too low or too high. Defines the term "standard foreign rate level" for the purposes of such provisions. Directs the Board to adjust at least semiannually such level to reflect the percentage of change in the actual operating cost per ton-mile. Permits the Board to increase specified percentages with respect to any proposed decrease in the standard foreign rate level.…