Aviation Competition Restoration Act

Aviation Competition Restoration Act - Requires the Secretary of Transportation to investigate the assignment and usage of gates, facilities, and other assets by major air carriers at the largest 35 U.S. airports in terms of air passenger emplanements. Directs the Secretary to require a major air carrier to make gates, facilities, and other assets available to other carriers on terms that are fair, reasonable, and nondiscriminatory to ensure competitive access to such airports if, based on such investigation, the Secretary determines that they are not available and that competition would be enhanced at those airports.

Makes it an unfair method of competition in air transportation for a dominant air carrier at a dominated hub airport to: (1) fail to utilize gates, facilities, and other assets fully at that airport; and (2) refuse, deny, or fail to provide a gate, facility, or other underutilized asset at such airport to another carrier on fair, reasonable, and nondiscriminatory terms upon the request of the airport, the other air carrier, or the Secretary. Requires the Secretary to ensure that gates and other facilities are available on fair and reasonable terms to air carriers at covered airports where a 'majority-in-interest clause' of a contract or other agreement or arrangement inhibits the ability of the local airport authority to provide or build new gates or essential facilities.

Authorizes the Secretary to make airport improvement program grants for gates, related facilities, and other assets to enhance and increase competition among air carriers for passenger air transportation.

Authorizes appropriations for FY 2002 from the Airport and Airway Trust Fund.