Considers legislation to amend the Civil Aeronautics Act with respect to air carriers reinvestment of proceeds from the sale or other disposition of operating property and equipment; and to provide for Government guaranty of private loans to air carriers for purchase of aircraft and equipment.

Considers H.R. 10129 and companion S. 2815, to authorize a five-year extension of CAB loan guarantees for purchase of aircraft and equipment by local service private air carriers.