Airport and Airway Extension Act of 2008

(This measure has not been amended since it was passed by the House on February 12, 2008. The summary of that version is repeated here.)

Airport and Airway Extension Act of 2008 - Amends the Internal Revenue Code to extend through June 30, 2008: (1) the excise taxes on aviation fuels and air transportation of persons and property for funding the Airport and Airway Trust Fund; and (2) the expenditure authority for such Trust Fund.

Amends federal transportation law to provide funding for airport planning and development and noise compatibility planning programs for the nine-month period beginning October 1, 2007. Extends until June 30, 2008: (1) the authority of the Secretary of Transportation to incur obligations to make grants under such programs; (2) the increase in the federal government's share (to 95%) of certain airport improvement program costs; and (3) funding for airport development at Midway Island Airport.

Directs the Administrator of the Federal Aviation Administration (FAA) to calculate funding apportionments for airport development programs in FY2008 in accordance with a specified formula.

Extends through FY2008 the period for final orders issued by the Secretary of Transportation with respect to eligibility for essential air service compensation.