To preserve the continued viability of the United States air transportation system.

Authorizes the President to take certain limited actions to compensate U.S. certificated air carriers for losses sustained by them as a result of the attacks on the United States on September 11, 2001, including to: (1) suspend, delay, or modify quarterly payments or other Federal financial obligations of such carriers to the United States; (2) extend credit or guarantees or issue loans to the air carriers; and (3) compensate for direct losses sustained by the carriers as a result of such attacks.