To amend title 49, United States Code, relating to foreign air transportation.

Amends Federal law to prohibit a foreign air carrier from being granted a permit by the Secretary of Transportation authorizing it to transport passengers for compensation between the United States and a foreign country on any flight that does not stop in the country under the laws of which the carrier is organized. Allows the issue of such a permit for any flight that does not stop in such country if the right to perform such air transportation has been specifically granted by an applicable international agreement for both scheduled and charter service.

Permits the Secretary of Transportation to exempt a foreign carrier from such prohibition only if no U.S. air carrier is willing and able to provide the equivalent air transportation at a commercially feasible price.