Airline Passenger Equity Act of 1987

Airline Passenger Equity Act of 1987 - Directs the Secretary of Transportation to require commercial air carriers engaged in the transportation of passengers in the United States (including foreign air and commuter air carriers) to report to the Secretary on a monthly basis specified information regarding flight delays, cancellations, reroutings, luggage status performance, and "bumped" passengers. Requires the Secretary to make such information available to the public at all public airports in a timely fashion.

Directs the Secretary to require that each such air carrier disclose to each passenger at the time of ticket purchase specified information regarding flight cancellations, overbookings, delays, liability for luggage, and food and restroom accommodations on such flight. Directs the Secretary to prohibit air carriers from advertising a fare for any flight at a particular price unless the carrier offers at least one-third of the seats for such flight at the advertised price, or unless the air carrier makes a general disclosure that fewer than one-third of such seats are available at that particular price. Prohibits any air carrier from cancelling a flight for economic reasons unless reasonable efforts are made to notify each passenger and to make similar services available within a reasonable time.

Establishes a civil penalty for violations of regulations under this Act.

Directs the Secretary to establish a 24-hour toll-free consumer hotline and to prominently publicize such hotlines availability at airports.