I have signed into law H.R. 5930, a bill to extend for 5 years the program that provides insurance to air carriers in cases where U.S. military or foreign policy interests require aviation operations that do not qualify for commercial insurance.
This legislation also leaves jurisdiction over domestic airline mergers, acquisitions, consolidations, and interlocking relationships relating to domestic air transportation at the Civil Aeronautics Board (CAB) until January 1, 1985. Under the Airline Deregulation Act, this authority was scheduled to transfer to the Department of Justice on January 1, 1983, as part of the sunset of CAB functions. H.R. 5930 delays for 2 years the transfer to Justice of domestic airline merger authority so that domestic and international airline mergers are handled by the same agency. With the signing of this legislation, I reaffirm that this administration is committed to full deregulation of the airline industry, to the sunset of the CAB no later than January 1, 1985 (the date scheduled in the Airline Deregulation Act), and to having airline mergers, acquisitions, consolidations, and interlocking relationships reviewed by the Department of Justice under normal antitrust standards and procedures, as is the case for other nonregulated industries.